TEL AVIV, Israel and PLANO, Texas, Aug. 01, 2016 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (NASDAQ:TISA) a global innovator of intelligent content processing solutions, announced that the Company was recognized as a sample vendor in the Mobile Imaging for Bank Staff and Mobile Imaging for Bank Customers categories included in the “Hype Cycle for Digital Banking Transformation, 2016”1 by Alistair Newton published on July 18th, 2016 by Gartner, Inc.
The mobiFLOW mobile image processing platform and SDK developed by Top Image Systems enables mobile capture, recognition and processing of structured and unstructured data in files of virtually any size and format. The platform is used by leading banks and financial services providers for a variety of digital banking use cases, such as mobile remote deposit capture, bill capture and payment via mobile devices and mobile enrollment. Mobile imaging transforms banking processes by enabling bank staff and customers to capture and process documents with high convenience and significantly accelerate transactions.
Mobile imaging serves banks twofold, both by improving banking processes aimed at reducing costs as well as by increasing customer satisfaction aimed at increasing revenues. According to the Hype Cycle for Digital Banking Transformation, “The challenge for CIOs is to use this technology to transform branches and customer-facing interactions, decrease complexity and speed time to complete activities like account opening. Because bankers are faced with high cost of branch operations and back-office processing, Gartner expects banks to adopt this technology to increase operational efficiency and decrease processing costs.”
From the customer perspective, the Hype Cycle indicates, “Transformative initiatives will be those that use existing processes, but in new ways, to digitally enable customers to achieve goals (for example, for a new house, to manage finances, to improve cash management, to pay bills or to pay off debt). This transformation will probably involve the digitalization of several workflows and business processes and should focus on the customer experience rather than on a single transaction.”
“We believe the findings of the Hype Cycle for Digital Banking Transformation 2016 validate the strong demand we see in the market for technologies that enable bank staff and customers to accelerate and optimize banking processes in order to achieve higher operational efficiency, shorter process cycle times and improved customer experience and satisfaction,” comments Carsten Nelk, Top Image Systems’ CTO. “We believe that being named by Gartner as a sample vendor reinforces the value of mobiFLOW to our customers."
(1) Gartner, Inc. "Hype Cycle for Digital Banking Transformation, 2016" by Alistair Newton, July 18, 2016
About the Gartner Hype Cycle
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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.