IRVINE, Calif., Dec. 9, 2019 – Ephesoft, Inc., an industry leader in enterprise content capture and data discovery solutions, and Alliance Bank Malaysia Berhad, a bank well known for serving Malaysian small and medium enterprises (SMEs), today announced that the bank has implemented Ephesoft Transact for intelligent capture automation in their middle-office operations.
“Ephesoft is able to meet our requirements and is versatile to scale with us as we continue to transform our business processes to deliver faster, simpler and more responsive customer experience to our clients,” said Mr. Joel Kornreich, group chief executive officer of Alliance Bank.
Ephesoft’s document classification module of patented machine learning algorithms helps ease the bank sales staff’s workload. The software is able to bulk-scan the supporting documents, and re-categorize them within the Alliance Origination System, the bank’s proprietary credit automation.
“With this improvement, we have the capacity to quickly identify and manage any potentially fraudulent activities based on customers’ transactional behaviour,” added Mr. Kornreich. “We also use the information to perform financial casting to understand our customers better, and due diligence in assessing customers.”
Financial Services organizations typically have high-volume, high-value documents, which can be manually intensive if they are not automated. “We are proud to be an agile and scalable enterprise data acquisition partner for our customers as they work to solve document and data challenges in their digital transformation journeys,” said Mr. Ike Kavas, founder and CEO at Ephesoft. “Ephesoft’s machine learning-powered software enables Alliance Bank employees to accelerate tedious processes and use their time to bring value to the organization in strategic ways that provide a competitive advantage.”
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About Alliance Bank
Alliance Bank Malaysia Berhad and its subsidiaries, Alliance Investment Bank Berhad and Alliance Islamic Bank Berhad, is a dynamic, integrated financial services group offering banking and financial solutions through its consumer banking, SME banking, corporate and commercial banking, Islamic banking, investment banking, and stockbroking businesses. The Group provides easy access to its broad base of customers throughout the country via multi-pronged delivery channels which include retail branches, Privilege Banking Centres, Business Centres, and Investment Bank branches located nationwide, as well as mobile and Internet banking.
About Ephesoft
Ephesoft, Inc. develops technology that makes meaning out of unstructured data for decision-makers worldwide. Using supervised machine learning and a focus on efficiency and reliability, Ephesoft has crafted the next generation of enterprise content capture and data discovery solutions. Organizations use this power to automate any document-based business processes, improving accuracy, increasing productivity and reducing costs. Ephesoft is headquartered in Irvine, Calif., with regional offices throughout the US, EMEA and Asia Pacific. The company is undergoing rapid growth and has customers in over 50 countries. To learn more, visit ephesoft.com.
