SINGAPORE and TEL AVIV, Israel, Jan. 05, 2016 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (NASDAQ: TISA ), a global innovator of intelligent content processing solutions, announced today deploying a project valued at more than a quarter of a million dollars to upgrade its eFLOW ® deployment for a long-standing customer that is the Hong Kong subsidiary of one of the top ten banks in China. Operating a network of over 750 branches in Mainland China and listed on both the Hong Kong and Shanghai stock exchanges, the parent bank is itself the subsidiary of one of China’s largest state-owned multinational financial and industrial conglomerates.
Confident of consistent recognition accuracy, the bank relies on eFLOW as its primary enterprise capture platform. eFLOW today processes some two million documents per year, including centralized scanning of loan origination and mortgage application forms as well as a continuous stream of varied branch operations documents . Next year the bank will expand the eFLOW5 deployment for capture at the bank’s 34 branches across Hong Kong and will also initiate recognition of customer IDs to digitally process account opening and credit card application documents.
Following many years of positive cooperation, TIS Hong Kong has earned its reputation at the bank as a well-trusted supplier. Today TIS Hong Kong provides professional services to the bank, not only for upgrading the eFLOW platform but also for support of and integration with its third-party document management and storage systems.
“We are proud to extend and grow our relationship with this important banking customer in our region,” comments Alex Toh, TIS Managing Director for Asia Pacific & Japan. “By increasing turnover and responsiveness to customers and reducing document cycle time, eFLOW continually proves its value for the bank. Reducing data entry costs and errors, ensuring faster, smoother access to documents and contributing to improved straight-through processing are important performance indicators for the bank; moreover improved visibility and document tracking play an important role in the bank’s regulatory compliance. We are pleased to help this and our other financial customers to leverage technology to best serve the changing and expanding needs of their customers in the digital economy.”
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.
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.
Company Contact: Shelli Zargary Director of Corporate Marketing and Investor Relations shelli.zargary@topimagesystems.com +972 3 767 9114 Investors: James Carbonara Regional Vice President, Hayden IR james@haydenir.com + 1 646 755 7412
