Kofax® Limited (NASDAQ: KFX)(LSE: KFX), a leading provider of smart
process applications for the business critical First Mile™ of customer
interactions, today announced a new mobile app for gift card balance
inquiries based on the Kofax Mobile Capture™ Platform. The first of its
kind, this new mobile app allows consumers to check the balance
remaining on a gift card via their smartphones and enables card issuers
to use mobile engagement to drive greater customer loyalty and revenue.
Kofax will demonstrate the gift card balance inquiry mobile app at
FinovateSpring 2014, a showcase of cutting-edge financial and banking
technology innovations in San Jose, CA on April 29 and 30, 2014. The
demonstration will show how consumers can use the camera in mobile
devices to snap a picture of the back of a gift card and automatically
send it via the cloud to the Kofax Mobile Capture Platform, which reads
it, securely accesses the issuer's database and displays the gift card's
remaining balance in near real time. This is a much faster and more
convenient way for consumers to check gift card balances than asking an
in store cashier to check the balance, calling the issuer to ask or
entering data into an online portal or automated telephone system.
According to the CEB TowerGroup's 2013 gift card report, annual gift
card use is growing and fast approaching $140 billion in volume, with
$1.7 billion going unspent per year. With many states boosting revenue
by collecting unused retail gift card funds under so-called "abandoned
property" laws, retailers have significant motivation to help consumers
spend those balances. Data frm the study also shows that consumers
spend on average 20-30% more when they use a gift card or apply gift
card funds to retail purchases, another incentive for issuers to help
consumers know their gift card balances.
"By offering a convenient way to check balances via smartphones,
retailers can now make it easier for consumers to spend gift cards,"
stated Drew Hyatt, Senior Vice President of Mobile Applications at
Kofax. "This is just one more value-added mobile service that card
issuers using the Kofax Mobile Capture Platform can offer to increase
customer loyalty and revenue."
The Kofax Mobile Capture Platform enables organizations to rapidly
develop and deploy any number of mobile apps on a single platform that
uses Kofax's patented and market leading image capture and perfection,
real time data extraction and validation and analytics capabilities.
Using this platform, organizations can speed time to market with mobile
apps, achieve substantial cost savings, make better informed decisions
to drive incremental revenue and free themselves of the undesirable
vendor dependencies associated with alternative approaches. The Kofax
Mobile Capture Platform turns smartphones into information capture
devices, with more dynamic apps that meet customers where, when and how
they want to engage.
Additional information and resources can be found online at Kofax
Mobile Capture Platform.
Kofax is a leading provider of smart process applications for the
business critical First Mile of customer interactions. These begin with
an organization's systems of engagement, which generate real time,
information intensive communications from customers, and provide an
essential connection to their systems of record, which are typically
large scale, rigid enterprise applications and repositories not easily
adapted to more contemporary technology. Success in the First Mile can
dramatically improve an organization's customer experience and greatly
reduce operating costs, thus driving increased competitiveness, growth
and profitability. Kofax software and solutions provide a rapid return
on investment to more than 20,000 customers in financial services,
insurance, government, healthcare, business process outsourcing and
other markets. Kofax delivers these through its own sales and service
organization, and a global network of more than 800 authorized partners
in more than 75 countries throughout the Americas, EMEA and Asia
Pacific. For more information, visit kofax.com.
© 2014 Kofax Limited. Kofax is a registered trademark and First Mile
and Kofax Mobile Capture are trademarks of Kofax Limited.
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