TEL AVIV, Israel, July 21, 2011 (GLOBE NEWSWIRE) -- Top Image Systems™ (TIS™), Ltd. (Nasdaq:TISA) (TASE:TISA), the leading ECM (Enterprise Content Management) solutions provider, announced today that it has been selected to provide a Digital Mailroom solution for HML. A leading UK-based financial outsourcer working in the mortgage, savings and loan markets, HML works with over 45 leading UK and Irish financial institutions, managing some £43 billion of assets.
The TIS eFLOW™ Digital Mailroom will be deployed at one of HML's four main sites in Skipton, where it will automatically identify and index inbound, business-critical documents for electronic distribution across departments. HML expects the solution to increase automation and thereby improve customer service while reducing operational costs.
Kim Brien, Director of IT and Automation at HML, stated, "We want to enhance our customer service and refresh the systems we have in place to meet existing and future challenges in our business. As part of this exercise we identified the best document capture methods available and TIS proved that their eFLOW™ Digital Mailroom is mature, flexible and able to provide what we want. We look forward to working together to efficiently complete the project in the coming months."
"We are extremely pleased to add HML to our growing list of Banking and Finance customers," commented Dr. Ido Schechter, CEO of TIS. "We look forward to enjoying a long and fruitful relationship with HML and we are confident that our continued investment in the eFLOW™ solution set will continue to add value to their business. The eFLOW Digital Mailroom for processing loan transactions is just one of the best-in-class ECM applications we offer to help banks improve their customer service and compliance with regulatory requirements while decreasing operational costs."
About HML
As one of the largest financial outsourcers in the UK, HML is responsible for delivering a diverse range of end-to-end administration services to support a variety of mortgage, savings and loan products. HML works with more than 45 leading financial institutions in the UK and Ireland and has some £43bn worth of assets under its management.
HML was established in 1988 by the Skipton Building Society to fulfill a need in the specialist lending market for an outsourced mortgage servicer. It now employs around 1600 people at four sites across the UK: Skipton, Padiham, Glasgow and Derry.
HML is the UK's highest rated primary mortgage servicer by Fitch and S&P and received an unprecedented double upgrade on Special Servicing from Fitch in 2010.
About Top Image Systems
Top Image Systems™ (TIS™) is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization. TIS's eFLOW Platform is a common platform for the company's solutions. TIS markets its platform in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers as well as strategic partners. Visit the company's website http://www.TopImageSystems.com for more information.
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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.