Kofax announced its Kofax Mobile ID won Most Innovative Solution for Banking Customer Authentication in the 2017 Grand Prix Banque and Innovation Awards in Paris, France.

The Awards identify excellence and innovation in the banking sector for its fourth year.

The programme acknowledges technology companies that have launched and implemented the most outstanding banking-related software solutions over the past year.

This award highlights the new verification features of Kofax Mobile ID that determine the authenticity and validity of identification documents and their holders.

Kofax Mobile ID helps financial institutions comply with ever changing Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations to combat fraud.

Reynold Bish, chief executive officer at Kofax, said: “We’re honoured to win this award three years running. It validates our vision and expertise in mobile technologies and the banking industry.

“Kofax Mobile ID is already used by leading global organisations to on-board customers and verify their identities faster, which is critical to removing friction, reducing fraud and improving compliance.”

Written from press release by Leah Alger