Spotcap Expedites Lending Decisions Using Kofax Kapow Robotic Process Automation
Faster Data Acquisition Enables Provision of Credit Financing Options to Small and Medium Enterprises
IRVINE, Calif., Feb. 28, 2018 (GLOBE NEWSWIRE) -- Kofax ®, a leading provider of software to simplify and transform the First Mile(TM) of business, today announced that Spotcap, a multinational provider of finance to small and medium-sized enterprises (SMEs), has implemented Kofax Kapow(TM) Robotic Process Automation (RPA) software to support its proprietary credit assessment algorithm. Kapow mimics human actions to automate a wide range of manual, repetitive tasks, helping Spotcap to provide flexible financing options to SMEs.
Spotcap's machine-learning credit models evaluate business and cash flow data alongside conventional credit and financial information-providing a holistic view of a company's performance and creditworthiness. Kofax Kapow software robots help to facilitate the fast and automatic aggregation, extraction and transformation of data from a wealth of sources into actionable information for use by Spotcap's credit assessment algorithm and credit experts.
Spotcap's investment in Kapow, which delivered a full return on investment in under a year, helps eliminate paperwork and manual processing. Business applicants simply enter basic personal and business information online in a highly intuitive process which can be completed in less than 15 minutes. Applications are reviewed within 24 hours and, once approved, SMEs have immediate access to funds.
Spotcap is also leading the charge in an emerging trend known as Lending-as-a-Service, offering its full-service lending platform and risk decisioning tools to major institutions, financial or otherwise. This approach recognizes that SMEs have long had trouble obtaining financing, with traditional lenders historically discouraged by the considerable expense of processing loan applications for smaller credit lines.
"For every loan application received, thousands of data points must be analyzed to make a decision about whether to offer a loan," said Karl Sponholz, COO of Spotcap. "Unlike traditional lending processes, where credit decisions are based primarily on historical financials and credit scoring, we are tapping into Kapow smart automation software to quickly and easily access data from a large number of sources for in-depth insight."
"We're also creating a collaborative environment for traditional lenders," added Sponholz. "By tapping into our full-service lending platform, traditional players can offer more refined services, efficiently serving SMEs with competitive financial services and products."
"Kofax is helping Fintech leaders digitally transform their businesses to better serve customers," said Reynolds C. Bish, Chief Executive Officer of Kofax. "In addition to increasing their competitive differentiation and advantage, these technology-focused leaders are poised to thrive by developing deeper and better engagement with customers across their entire lifecycle."
Spotcap Revolutionizes Lending with Flexible and Accessible Financing for Small and Medium-Sized Businesses case study
How Financial Institutions are Improving Operations with Robotic Process Automation eBook
The Ultimate Guide to Choosing the Right Robotic Process Automation Solution white paper
Kofax is a leading provider of software to simplify and transform the First Mile(TM) of business. By capturing information and automating information-intensive processes, Kofax helps improve customer engagement, greatly reduce operating costs and increase competitiveness and profitability for more than 20,000 customers in financial services, insurance, government, healthcare, supply chain and other markets. Kofax delivers its information capture, robotic process automation, financial process automation and customer onboarding solutions through its direct sales and service organization, and a global network of more than 1,000 authorized partners in more than 70 countries throughout the Americas, EMEA and Asia Pacific.
© 2018 Kofax, Inc. Kofax is a registered trademarks and First Mile and Kofax Kapow are trademarks of Kofax Limited.
Media Contact: Sylvia Chansler Sr. Manager, Public Relations +1 (949) 783-1476 firstname.lastname@example.org
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kofax, Inc. via Globenewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Følg saker fra GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra GlobeNewswire
Compuware Announces Day One Support for IBM CICS Transaction Server for z/OS V5.514.12.2018 18:02 | Pressemelding
SoftServe Achieves Machine Learning Specialization in Google Cloud Partner Program14.12.2018 13:00 | Pressemelding
Google Cloud recognizes SoftServe’s technical proficiency and proven success AUSTIN, Texas, Dec. 14, 2018 (GLOBE NEWSWIRE) -- SoftServe, a leading digital authority and consulting company, announces it achieved the Machine Learning Partner Specialization in the Google Cloud Premier Partner Program. The Partner Specialization affirms SoftServe’s expertise and success building customer solutions in the machine learning field using Google Cloud Platform (GCP) technology. The Google Cloud Partner Specialization Program is designed to provide Google Cloud customers with qualified partners that demonstrate technical proficiency in the specialized solution and service areas. Specifically, the Machine Learning Specialization demonstrates SoftServe’s expertise in data exploration, preprocessing, model training, model evaluation, model deployment, online prediction, and Google Cloud’s pre-trained machine learning APIs. “We teach machines to learn, read, see and understand business data, and make
Minerals Technologies Announces Price Increases for Specialty Minerals Products in Europe14.12.2018 00:01 | Pressemelding
NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Specialty Minerals Inc. (“SMI”), a subsidiary of Minerals Technologies Inc., announced today that effective February 1, 2019, it will increase prices by up to 10% for all coated ultrafine precipitated calcium carbonate (PCC) from SMI’s Lifford Specialty PCC facility in Birmingham, UK, subject to individual customer contracts and market provisions. The price increases reflect increased market demand for higher performance materials, as well as significant inflation in input, raw material and logistics costs. About Minerals Technologies Inc. New York-based Minerals Technologies Inc. (MTI) is a resource- and technology-based growth company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. MTI serves the paper, foundry, steel, construction, environmental, energy, polymer and consumer products industries. The Company reported sales of $1.
Synthesio to Bring Proven Ipsos Data Science to Artificial Intelligence13.12.2018 17:03 | Pressemelding
Synthesio's Next-Generation Social Media Intelligence to Raise Unseen Insights to the Surface, Faster NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Synthesio, an Ipsos company, and also the leading Social Media Intelligence Suite, today announced the plans for its next-generation Artificial Intelligence (AI) engine. The project will combine Synthesio’s AI technology with Ipsos’ data science. The combination will power upcoming Synthesio capabilities to help users find insights faster, remove guesswork, and make informed business decisions across a variety of use cases. “Our goal has always been to provide customers with meaningful data, visualized so that they can make strategic business decisions,” explained Loic Moisand, CEO & Founder of Synthesio. “The less guesswork that a company has to make, and the less time that it takes users to find meaningful insights, the more time for data-backed business decisions. We are really pleased that we can leverage the data science capabilities dev
XBiotech Announces Publication of Post-Hoc Analysis for Phase III Colorectal Cancer Study13.12.2018 14:00 | Pressemelding
Biomarkers Predict Significantly Higher Rates of Treatment Response to Bermekimab in Advanced Cancer Patients AUSTIN, Texas, Dec. 13, 2018 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: XBIT) announced today the publication of findings on key biomarker analysis of colorectal cancer patients treated with bermekimab in its European Phase III study. The manuscript, entitled, “Interleukin-1 Receptor Antagonist (IL-1ra) Levels Predict Favorable Outcome after Bermekimab, a First-in-Class True Human Interleukin-1α Antibody, in a Phase III Randomized Study of Advanced Colorectal Cancer”, has been published online in the journal OncoImmunology. The findings report that patients with relatively low levels of IL-1ra or IL-6 were more likely to respond to bermekimab therapy and achieve the study’s primary endpoint. The study’s primary endpoint measured a combination of physical symptoms—pain, fatigue, anorexia and muscle wasting—which tend to worsen with advanced cancer, to assess whether these sympto
FROM CUTE TO CONFIDENT: MARY KAY INC. TALKS PINK AT THE MUSEUM AT FIT13.12.2018 14:00 | Pressemelding
Mary Kay Inc. and The Museum at The Fashion Institute of Technology Partner for a Pink-Centric Panel Discussion in Conjunction with Special Exhibition ‘Pink: The History of a Punk, Pretty, Powerful Color’ NEW YORK, N.Y., Dec. 13, 2018 (GLOBE NEWSWIRE) -- From pink makeup compacts to the iconic pink Cadillac, global beauty brand Mary Kay has been synonymous with the color pink for more than five decades. On December 13, 2018, Mary Kay will partner with The Museum at FIT (MFIT) to host a scholarly panel discussion, ‘Powerful Pink: From Cute to Confident,’ at the Katie Murphy Amphitheatre on the New York City FIT campus. Panelists include Luis Casco, Mary Kay Global Beauty Ambassador and celebrity makeup artist; Kate Greene, Vice President of Communications and Creative Direction at Givaudan and Karen Young, FIT adjunct professor and founder of The Young Group. The panel discussion will be moderated by Sheryl Adkins-Green, Chief Marketing Officer for Mary Kay Inc. The scholarly panel disc