Ephesoft Awarded $5M Advanced Capture Project by Leading Financial Services Company

Classification and Data Extraction Platform Identified as Key Technology to Meet Client Service Goals

Laguna Hills, CA., August 24, 2016 – Ephesoft Inc., announced today that its Smart Capture® solution, Ephesoft Transact, has been selected by one of the nation’s largest financial service  institutions to classify and process inbound documents. Mortgage automation is the first project identified by the company, with an annual document volume anticipated to exceed one billion pages annually. The contract is valued at over $5M to Ephesoft.

“Many of the largest companies in the financial services industry—from banks to private mortgage insurers–have standardized on our Smart Capture technology,” said Don Field, Ephesoft’s Chief Executive Officer. “This particular customer is using a legacy capture program for scanning and keyed data validation. However they needed advanced document identification and comprehensive data capture to meet their client service goals for streamlined mortgage approvals and closings. We appreciate their confidence in selecting Ephesoft Transact to meet these objectives.”

Over the past five years, Ephesoft has been selected by over forty financial institutions to process mortgage documents. Many of these companies will be attending Ephesoft’s annual user conference, Innovate 2016, from October 16-19, 2016 in Irvine, California.

“Orange County is a center for financial services, particularly mortgage origination—in the US,” explained Mr. Field. “While our conference will have representatives from multiple industries as well as the public sector, Innovate 2016 is a terrific opportunity for mortgage industry professionals to share best practice ideas for leveraging advanced capture technology. We will have several technical and business sessions applicable to mortgage documents.”

About Ephesoft:

Ephesoft, Inc. delivers intelligent capture technology on premise or in a SaaS model that extracts meaning from unstructured content. With a focus on efficiency and reliability, Ephesoft has crafted the next generation of intelligent document capture technology that allows organizations to automate and streamline mailroom processing and other document-based business processes. Ephesoft is headquartered in Laguna Hills, California, with regional offices throughout the US and EMEA.  The company is undergoing rapid growth and has customers in over 30 countries.  To learn more, please visit http://www.ephesoft.com.

© 2016 Ephesoft. Smart Capture is a registered trademark.

Media Contact:

Tim Dubes
Vice President, Marketing
+1 949 335 5335 ext.501
tim.dubes@ephesoft.com