TEL AVIV, Israel and NEW YORK, June 17, 2014 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (Nasdaq: TISA ) a leading ECM (Enterprise Content Management) and BPM (Business Process Management) solution and MIP (Mobile Imaging Platform) provider, today announced the launch of eFLOW® Signature Verification , its latest addition to the cutting edge eFLOW® solution. eFLOW Signature Verification is designed to enhance the eFLOW product scope for existing customers, while presenting new customers with an innovative solution to reduce fraud.
eFLOW Signature Verification automatically analyzes incoming signatures on any document against existing samples collected during previous instances, such as during an account opening. Signatures flagged as potentially fraudulent are passed to operators through a graphical interface for further analysis to highlight clearly where the problem areas are. With eFLOW Signature Verification , processes are quicker and more accurate, and staff can be redeployed, thus enabling cost savings.
Michael Schrader, COO of Top Image Systems explains, "Signatures are still used on our most important documents, and yet signature forgery is widespread and difficult to identify. Businesses use trained operatives to spot fraud, but the human eye is not always able to identify the forgeries with accuracy. It also takes a great deal of time and cost for companies to carry out this work."
Continues Schrader, "Identity theft, particularly involving the use of an existing account, is growing significantly and costing companies millions of dollars every year. eFLOW Signature Verification , a powerful automation tool developed by TIS, accurately identifies these signature forgeries, while reducing reliance on manual operators and improving cost efficiencies."
"Top Image Systems' eFLOW Signature Verification enables automated verification of signatures on any type of document with a high degree of accuracy, consistently outperforming similar solutions in customer benchmarks. For banks and other businesses that rely on signatures, automating such authorization not only reduces fraud and the associated costs, but enables significant cost savings as a result of the decrease in human involvement in the process," Schrader concludes.
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a leading innovator of enterprise solutions for capturing and validating structured and unstructured content entering organizations from various sources and managing content-driven business processes. Whether originating from mobile, electronic, paper or other sources, TIS solutions automatically capture, process and deliver content across enterprise applications. TIS' flagship eFLOW platform and diverse business process and mobile image processing solutions are marketed in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers and strategic partners. Visit the company's website at http://www.TopImageSystems.com for more information.
Top Image Systems Caution Concerning Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results expressed or implied in those forward looking statements. Words such as "will," "expects,", "anticipates," "estimates," and words and terms of similar substance in connection with any discussion of future operating or financial performance identify forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks in product development, approval and introduction plans and schedules, rapid technological change, customer acceptance of new products, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, litigation, general economic conditions and other risk factors detailed in the Company's most recent annual report on Form 20-F and other subsequent filings with the United States Securities and Exchange Commission. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
TIS Company Contact: Shelli Zargary Director of Corporate Marketing and Investor Relations +972 3 767 9114 TIS Investors: James Carbonara Regional Vice President, Hayden IR + 1 646 755 7412
