Continuous demand for cloud-based document imaging technology helped more than double Capsilon’s revenue in 2012 and may lead to further growth this year.
The San Francisco-based mortgage technology provider said revenue growth was fueled by the combined effect of new updates to its cloud-based imaging solution and the introduction of the Katalyst mobile application.
Executives find there is “a greater awareness” to imaging and collaboration solutions, as mortgage banks strive to implement cost-effective lending solutions.
Capsilon’s updated version of cloud-based imaging solutions include Katalyst 8, an image conversion system that enables users to achieve "a more sophisticated document recognition" through an easy-to-use desktop application.
The Katalyst mobile app for Apple iPhones, iPads and iPod Touch devices also has become popular among users as it allows them to review documents and their status from any location, at any time.
The market response to this strategy, said chief executive officer of Capsilon, Sanjeev Malaney, is on the rise.
To fulfill demand Capsilon also added new key executives and expanded its headquarters facility.