All posts by Bruce Bolton

OpenText Liquid Office Webinar

This article provides a link to the OpenText Liquid Office webinar held on 12/05/2017.

Agenda

This webinar contains the latest information about the DocuNECT v5 product suite and has the following agenda:

  1. Liquid Office Overview
  2. Automating Electronic Forms.
  3. Demonstration.

 

Recorded Webinar

Kofax Capture 11.0.0 Released

For details regarding the new features which can be found in the Kofax Capture 11.0.0 (11.0, initial release) product release documentation. In additional to resolved known issues, the following enhancements have been made:

New Features

  • Administrative and Login Audits
  • Separate Database for User Tracking Information
  • Batch Class Versioing
  • Security Enhancements
  • Improved Usability

Kofax: Dramatically Reduce the Time and Complexity of Onboarding New Customers

Onboarding is perhaps the most critical process in the client lifecycle, as it sets the stage for the rest of your relationship with your customer—and can even determine whether a relationship begins at all.

Today’s customers increasingly compare your onboarding experience with those of popular online retail and entertainment platforms. And when you consider that since 2010, smartphone usage has surged by almost 400% and tablet usage has risen 1700%, it is not surprising that your customers expect to connect with you anytime, anywhere, and through a multitude of channels and devices.

Kofax Onboarding Agility™ makes becoming your customer easier. As a framework, it provides a model for on=boarding customers using the many facilities of the powerful TotalAgility platform. The framework provides a unique combination of mobile access, omnichannel document capture/extraction, workflow automation and optimization, integration capabilities and analytics—across all channels and throughout the entire onboarding process. Employ automation that empowers users with self-service capabilities, thereby freeing knowledge workers to focus on more essential tasks and enhancing customer engagement and satisfaction.

DocuNECT Tech Refresh

This article provides a link to the DocuNECT Tech Refresh webinar held on 10/25/2017.

Agenda

This webinar contains the latest information about the DocuNECT v5 product suite and has the following agenda:

  1. What is DocuNECT?
  2. Advanced Extraction Capabilities and Machine Learning.
  3. Joining Capture and Workflow Together.
  4. Integration with ApplicationXtender.
  5. Demonstration.

Recorded Webinar

Kofax Tech Refresh Webinar

This article provides a link to the Kofax Tech Refresh webinar held on 09/20/2017.

Agenda

This webinar contains the latest information about the Kofax product suite and has the following agenda:

  1. Kofax Capture – Tech Refresh
  2. Kofax KTM – Tech Refresh
  3. Introducing Kapow

Recorded Webinar

ApplicationXtender Tech Refresh Webinar

This article provides a link to the ApplicationXtender Tech Refresh webinar held on 08/16/2017.

Agenda

This webinar contains the latest information about the ApplicationXtender product suite and has the following agenda:

  1. Overview of AX v8.1 SP1.
  2. Automate Business Process with Workflow.
  3. Extend the Capabilities of AX with DocuNECT.

Recorded Webinar

Articles from VeriComply’s Blockchain Series

Blockchain Series: How would a Secondary Market Asset System Work in Practice?

In the last post “How to overcome these challenges to implement a Blockchain solution for Secondary Market Assets?”, we discussed the concept of a Secondary Market Asset System. This post discusses how to implement such as a “SMA System”. Here are the key steps in the process: Create the Smart Contract– the legal documents…Read More

Blockchain Series: How to overcome these challenges to implement a Blockchain solution for Secondary Market Assets?

In the last blog post “What are the problems to implement Blockchain solutions for Secondary Market Assets?”, we discussed five problems to an effective Blockchain implementation. This post offers solutions for each of them. Problem #1 – Multiple Discounted Systems Solution: Bridge to Blockchain The promised benefit of migrating to the Blockchain is…Read More

Blockchain Series: What are the problems to implement Blockchain solutions for Secondary Market Assets?

People must remember that Blockchain is a technology that is a building block for a solution, rather than a turn key solution itself. The technology infrastructure, business services and legal documentation used today to manage Secondary Market Assets is wholly inadequate to migrate to a new Blockchain paradigm. For this industry wide transformation to Blockchain … Read More

Blockchain Series: What aspects of Blockchain are relevant to Secondary Markets Assets?

Discussions of Blockchain at conferences and cocktail parties range from the underlying technology to crypto-currency, Initial Coin Offerings (now being redefined as Token Revenue Events), to how the regulators will react to all of this. To keep these blogs on point, we will limit our discussions to the three elements of Blockchain most relevant to…Read More

Blockchain Series: Why Blockchain is a paradigm shift that matters?

Why Blockchain is a paradigm shift that matters? The internet has changed every aspect of our lives. However, it is the internet of information where copies of music, videos, and other content can be copied and distributed globally in seconds with little control. This paradigm does not work for Assets, which must be unique, controlled…Read More

Are you ready for the impending Tsunami? How Blockchain will Transform the Secondary Markets for Financial Assets

What’s the Blockchain Buzz about? As the media buzz continues to grow about Blockchain’s impact on the entire financial services industry, just about everyone is trying to figure why it matters and how it will affect them. As Blockchain’s impact will vary by industry vertical and use case, this series of blog posts will focus…Read More

VeriComply Partners with Christiana Trust to Provide Automated Verification

In order to timely close its $163 Million asset securitization, Upstart needed to validate the accuracy of 19,000 over loan files in a matter of hours. Upstart turned to Christiana Trust who had partnered with VeriComply and applied its automated Verification Agent solution. The results, in 2 hours over 19,000 loans processed and verified with 100% accuracy and 100% automation and the delivery of the electronic originals to an electronic vault confirmed. The VeriComply dashboard provided real time access to the process and the repository provided watermarked loan file, audit history and Verification Certificate for future reference.

The Situation

Upstart needed to ensure timely delivery and verification of over 19,000 loan files being securitized in its Grantor Trust 2017-1 deal. Rather than use the “stare and compare” method of loan verification and manual confirmation of delivery to an electronic vault, Upstart engaged Christiana Trust who had partnered with VeriComply. This partnership enabled Christiana and VeriComply to quickly execute the required VeriCompliance Process set up and seamlessly perform the file validation process flow.

The Challenge

The VeriComply team was faced with the challenge of setting up a process flow in a few days to provide a 100% validation (rather than a sampling) of over 19,000 loans confirming that:

  • Each Loan File contained a Promissory Note and a TILA disclosure.
  • The Loans listed in the Data Tape had corresponding documents in the Loan File.
  • The Loan Files had been successfully transmitted to the required electronic vault.

Additional requirements included providing evidence of compliance with rigorous data privacy and security requirements, a complete audit history of all work performed, a document repository for the verified loan files and an automated process to remove loan files from the system upon subsequent sale, payoff or charge off of the loan.

The Solution

The VeriComply team working with Upstart and Christiana was able to meet all these requirements on time and on budget. Here is how it happened:

Set Up Process:

  • Customized process flow designed and deployed in days.
  • Satisfied requirements of the Custodial Agreement.
  • Implemented using VeriComply’s Configuration Templates and Implementation Protocols.
  • Released in accordance with VeriComply’s Operation Qualification Protocol

VeriComply Process Flow:

  • Documents uploaded by secure FTP.
  • Process performed in less than an one hour on 100% of Loan Files.
  • Any exceptions reviewed by Christiana using the VeriComply workflow manager.
  • VeriComply Process audit history available in Project History folder of Repository.
  • A complete record of all exception workflows created.
  • In Process and Final Quality Checks performed.
  • Watermarking with VeriComply Logo and Logo ID on each document in each Loan File.
  • Report automatically populated with verified data and distributed to deal team.
The Results

Using state of the art technology, industry know and compliant Implementation Protocols, VeriComply handled all processing with minimal effort by Christiana Trust and provide Christiana Trust and upstart with:

  • Speed and Capacity– Over 19,000 loans processed in 1 hours .
  • Accuracy- 100% of loans validated with 100% automation and all exceptions verified manually in minutes.
  • Compliance– SSAE16 compliant process that protected Personally Identifiable Information.
  • Performance– Azure computing power “ramped” for peak performance and then reduced to save costs.
  • Timely Deal Close- deal closed on time with ability to verify the delivery of the Loan Files to an electronic repository.
  • Removal of Loans- system implemented to remove individual loans that are charged off, paid off or sold from the Repository.

Thoma Bravo to Acquire Lexmark’s Enterprise Software Business

San Francisco, CA – May 3, 2017 – Thoma Bravo, a leading private equity firm, today announced it has entered into a definitive agreement with Lexmark International Inc., a global imaging leader, to acquire Lexmark’s Enterprise Software business, which is made up of three primary businesses: Kofax, ReadSoft and Perceptive Software. The closing of the transaction is subject to usual and customary closing conditions and regulatory approvals, and is expected to occur in the third quarter of 2017. Apex Technology Co Ltd, PAG Asia Capital and Legend Capital Management Co, LTD, who acquired Lexmark in November of 2016, support the sale of the Enterprise Software business.

Upon closing of the transaction, the Perceptive Software business, including Perceptive Intelligent Capture, Acuo VNA, PACSGEAR and Enterprise Medical Image Viewing will be sold to Hyland Software, Inc., an existing Thoma Bravo portfolio company and leading provider of enterprise content management software led by President and CEO Bill Priemer. The Kofax and ReadSoft businesses will create a single, newly independent Thoma Bravo portfolio company under the Kofax brand, and will be led by Reynolds C. Bish, current president of Lexmark Enterprise Software.

“We’re incredibly excited to be acquiring the Lexmark Enterprise Software business as it contains some of the most advanced digital transformation technologies in the industry. The Perceptive Software business is highly complementary to Hyland, providing innovative technologies and vertical expertise,” said Seth Boro, a managing partner at Thoma Bravo. “We’re equally thrilled to partner with Reynolds and his management team under the Kofax brand as a new Thoma Bravo portfolio company. Their vision to digitally transform and simplify initial customer interactions with businesses, or what they term the “First Mile”, represents an exciting opportunity across all industries.”

“We have long admired the people and technology of Perceptive Software and are thrilled to welcome them into the Hyland family,” said Priemer. “The combination of our content services portfolios will provide tremendous benefit to our current and future customers and partners.”

“Thoma Bravo has an incredible track record of success building and growing software companies,” said Bish. “Their unparalleled industry expertise and operational excellence make them the ideal partner for this new venture.”

Lazard is serving as financial advisor, and Dechert LLP is serving as legal counsel to Lexmark International. Credit Suisse and Goldman, Sachs & Co. are serving as financial advisors, and Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and Hyland. Financing for the transaction is being provided by Credit Suisse, Goldman, Sachs & Co. and UBS Investment Bank.

About Thoma Bravo

Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $17 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.

About Hyland

Hyland is a leading provider of software solutions for managing content, processes and cases for organizations across the globe. For over 25 years, Hyland has enabled more than 15,500 organizations to digitalize their workplaces and fundamentally transform their operations. Named one of Fortune’s Best Companies to Work For® since 2014, Hyland is widely known as both a great company to work for and a great company to do business with. For more information, please visit Hyland.com.

About Lexmark International, Inc.

Lexmark creates innovative imaging solutions and technologies that help customers worldwide print, secure and manage information with ease, efficiency and unmatched value. Open the possibilities at www.Lexmark.com.