Financial Institutions Worldwide Are Choosing Top Image Systems’ mobiFLOW to Drive Mobile Capture Adoption

TEL AVIV, Israel and PLANO, Texas, April 20, 2016 (GLOBE NEWSWIRE) — Top Image Systems Ltd. (NASDAQ:TISA), a global innovator of intelligent content processing solutions, announced today that the company sees continued interest from banks and financial service providers in the mobiFLOW mobile image processing platform and the applications it drives.  Some recent deployments include a project at a U.S.-based digital bank, where mobiFLOW will be used to streamline the enrollment of new customers via digital capture of customer drivers’ licenses and other forms of personal identification; a pilot at a leading retail and consumer bank in Belgium where mobiFLOW will be integrated to process all documents submitted via mobile loan request applications; and a number of mobile check deposit implementations at leading UK banks.

Top Image Systems is seeing steady growth in mobile image processing through banks, credit unions and other financial and payment providers seeking to attract millennials with convenient, integrated mobile banking apps that take advantage of the mobile device’s camera for rapid, accurate and secure data capture. 

The decision of the UK government in 2015 to make the digital image of a check legal tender significantly accelerated mobile check processing activity in the British financial market, driving a number of projects for TIS in cooperation with financial services partners.  Additionally, the growing demand from mobile-first and mobile-only consumers has caused a broad proliferation of digital initiatives worldwide. This demand drives cases such as the use of mobiFLOW for mobile check deposit implementations in the U.K., accelerated mobile customer acquisition at a consumer bank startup in the U.S. and a pilot project where TIS has been selected to deliver mobile lending document capture capability that will be embedded in the bank’s mobile platform for maximum customer satisfaction and operational excellence.

“Mobile capture comprises an essential element of digital banking initiatives today,” comments Michael Schrader, CEO, Top Image Systems. “Thanks to our early investment in mobile image processing technologies, together with our years of experience providing banking process automation to leading banks and financial service providers around the globe, TIS continues to play a role in this important market and is incorporating our mobile technology as an integral part of our consolidated financial and banking process automation solutions going forward.”

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 https://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, t
he 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
Top Image Systems
shelli.zargary@topimagesystems.com
+972 3 767 9114
Investors:
James Carbonara
Regional Vice President,
Hayden IR
james@haydenir.com
+ 1 646 755 7412