IRVINE, Calif., January 19, 2010 – Kofax plc (LSE: KFX), the leading provider of document driven business process automation solutions, today announced it will provide Associacao Brasileira de Bancos (ABBC), a leading Brazilian financial and banking association, with a distributed capture solution for SICREDI Bank, Brazil’s largest credit union. The value of the contract to Kofax is approximately $500,000.

ABBC will implement Kofax software to capture and extract data from more than 20 million checks and related multi page financial documents received annually at over 300 SICREDI branch locations and export the resulting data and images into ABBC, SICREDI, and Brazil Central Bank repositories. The system provides a check truncation solution that significantly reduces the time and costly manual labor needed for paper based processing. As a result, SICREDI will reduce operating costs, accelerate business processes and improve data quality, leading to better cash management and customer service as well as improved compliance with banking and regulatory requirements.

“Banks and other financial services companies with high volume, document centric tasks such as check processing are looking for solutions to improve efficiency and drive down business costs,” said Alan Kerr, Executive Vice President of Field Operations at Kofax. “Our solutions convert labor intensive, paper based processes into automated systems that increase productivity, generate a fast ROI and enable customers to focus their resources on better serving customers.”