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Articles from
March 2007
ImageRight Sponsors Reception to Benefit Charity
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During the recent AAMGA Automation Show held at the InterContinental Hotel in Buckhead, GA, ImageRight sponsored a reception from which all proceeds were donated to the Pulmonary Hypertension Association (PHA).
"Our interest in supporting this association first began when a valued employee, co-worker and friend, Kerry Bardorf, was diagnosed with this disease," said Mike Jansen, CEO for ImageRight. "Kerry's passing prompted our first donation as a company. We lost someone very special to us, and now show support of PHA whenever possible in the hope that someday research and medicine will conquer this debilitating disease."
ImageRight, a Conyers, Ga.-based provider of insurance-specific content management and workflow solutions, will make an additional lump sum donation of $60,000 to support the information and support the PHA offers patients and their families. Pulmonary hypertension, or PH, is a disease that affects people of all ages and ethnic backgrounds. PH is a simplified name for a complex health problem of which the main symptom is high blood pressure in the lungs. PH is rare condition that results from damage to the pulmonary arteries. While there is no cure yet, new treatments are extending and enhancing the lives of patients.
ImageRight is committed to supporting the PHA’s efforts towards finding a cure. ImageRight's $60,000 lump sum donation represents a $1,000 contribution on behalf of the company for each new insurance company client signed during the course of the last year.
"Kerry Bardorf was a wonderful young woman whose response to this terrible illness was to become involved with PHA and the fight for a better future," said Rino Aldrighetti, president of PHA. "After her passing in 2005, her memory forged an ongoing link between ImageRight and PHA. There have been extraordinary advances in what was essentially an untreatable illness only a decade ago, but there is much more to be done. PHA is deeply grateful to our friends at ImageRight for their generosity and their commitment to our common cause."
For more information about the PHA, please call 301-565-3004, or visit the association’s website at www.phassociation.org.
For additional information about this release or any of ImageRight’s products and services, please visit the ImageRight website at www.imageright.com, or contact us via phone at 770-860-0065 or email at inquiry@imageright.com.
About Advanced Solutions
Advanced Solutions, Inc. provides insurance-focused content management and workflow systems that deliver unprecedented productivity gains and customer service improvements to more than three hundred companies. The ImageRight system provides companies with complete document and content management, coupled with advanced workflow automation that is scalable for insurance operations of all sizes. The company is located in Conyers, Georgia, and on the Web at www.imageright.com. Readers may contact ImageRight by phone at (770) 860-0065, or by e-mail at inquiry@imageright.com.
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Microsoft Sponsors EDS SOLCORP User Conference
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Dennis Maroney, Managing Director Global Insurance Industry to Keynote
EDS SOLCORP announced that Microsoft will sponsor its upcoming User Group Conference scheduled for April 22 - 25, 2007 to be held at Whistler, BC. Playing a key role in the overall Conference agenda, Microsoft will have keynote presentations from Dennis Maroney, Managing Director Global Insurance Industry and Charlie Wood, Senior Technical Evangelist.
"Our User Group Conference offers customers an exciting and dynamic experience to learn about the latest technology trends and how to leverage them to achieve outstanding business results," said Daniel Baron, President EDS SOLCORP. "Attendees will find our jam-packed two-day agenda full of comprehensive, user-driven education, expert insights and the opportunity to learn more about SOLCORP'S strategic direction and product roadmap first-hand."
Executive Keynotes:
As part of the worldwide financial services team at Microsoft, Mr. Maroney focuses on helping companies enable their front line staff with the customer insight and service tools that today's consumers and increasingly producers expect. Microsoft refers to this empowerment strategy as becoming a People Ready Business. In the insurance industry, Microsoft provides this capability through a connected series of business solutions and technology enablers such as CRM called the Insurance Value Chain (IVC). As Mr. Maroney will discuss, EDS SOLCORP is a key partner in the IVC from their wealth management offerings through to their core processing systems.
Charlie Wood is a Technical Evangelist working with software vendors to create solutions which integrate to, or are built on top of, the Microsoft Dynamics CRM platform. His primary role is to work as a catalyst to enable Microsoft's partners to bring to market solutions which meet customer needs through leveraging Dynamics CRM integrated with other Microsoft technology. Mr. Wood's presentation will demonstrate how Microsoft Dynamics can be utilized within the insurance and financial industries.
For more information or to register see www.edssolcorp.com. |
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About Microsoft
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and solutions that help people and businesses realize their full potential. |
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About EDS SOLCORP EDS SOLCORP, a global business unit within EDS, is a leader in software solutions and services for the life insurance and wealth management industries. For 25 years, EDS SOLCORP solutions have helped customers reduce their total cost of administration, accelerate time-to-market for new products, and streamline their infrastructure. |
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About EDS EDS (NYSE:EDS) is a leading global technology services company delivering business solutions to its clients. EDS founded the information technology outsourcing industry more than 40 years ago. Today, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, healthcare, communications, energy, transportation, and consumer and retail industries and to governments around the world. Learn more at eds.com. | |
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Whitehill Technologies announces Whitehill XML Transport 3.3
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New product release lets financial services companies accelerate communications to customers and channels
Whitehill Technologies, Inc. announced the release of Whitehill XML Transport 3.3, a leading software offering that lets businesses extract information from their existing data stores and put it to work creating clear, readable, personalized communications.
Insurers, banks and other companies use Whitehill XML Transport to efficiently produce documents such as policies, reports, statements or customer correspondence, and then distribute those documents wherever they need to go - whether by mail, e-mail, fax or Web pages.
Unlike other systems that handle only limited data types, Whitehill XML Transport 3.3 handles the widest range of data sources and distribution options. This lets businesses make the most effective use of their existing data, even when it is trapped in older, less flexible formats - for example, in legacy mainframe environments.
The latest version of Whitehill XML Transport includes even broader input and output options. These include improvements to the XML input functionality to allow for fast, intelligent breaking of large XML files into smaller files for more efficient handling. Whitehill XML Transport 3.3 also has enhanced output capabilities for AFP, a print format widely used in high-speed, high-volume production environments.
Other significant enhancements include a new server console, letting users easily monitor and make configuration changes; improved font handling; superior usability through improved Designer forms; and a simpler server framework, making it easier to implement and administer the engine, or deploy extensions that add custom functionality.
"Speed and flexibility are crucial to today's financial services companies," says Neil Betteridge, VP of Marketing, Whitehill Technologies, Inc. "They need to be able to produce personalized communications for their customers, and they need to do it quickly. They also need content which can easily be repurposed for different environments, whether it's printing policy documents or sending personalized e-mails. Whitehill XML Transport 3.3 offers companies the widest range of options to effectively accelerate communications across all channels."
About Whitehill Technologies, Inc.
Whitehill Technologies, Inc. develops and implements document and compliance automation solutions that help customers accelerate key business processes. More than 1,000 customers in 45 countries have used Whitehill software, including half the largest 100 insurers in North America and two thirds of the largest 250 law firms in the world. Headquartered in Moncton, New Brunswick, Canada, Whitehill is a privately held company with more than 200 employees in Canada, the United States and the UK. For more information, please call 1-888-944-8344 or visit www.whitehilltech.com.
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Fiserv CBS Worldwide Converts Two Caribbean Agencies to Core Processing Solution
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Fiserv CBS Worldwide announced that it has successfully converted the Trinidad & Tobago Mortgage Finance Company Limited (TTMF) and the Housing Development Corporation (HDC), an agency of the Ministry of Housing (MoH) of Trinidad and Tobago, to the ICBS core processing solution.
Fiserv ICBS was chosen by TTMF and the HDC for its functionality, quality of technology, Fiserv’s experienced team of experts and the ability to provide all information in a single enterprise-wide database. Fiserv’s fully-integrated architecture also offered significant cost advantages to TTMF and HDC compared with other products on the market. In addition to ICBS, both entities are also using the Fiserv CBS Collections solution to automate the tracking, collection and reduction of past due accounts.
“It was a pleasure and a great learning experience for our staff working with the professionals of Fiserv’s implementation team,” said Ernest Williams, IT Director, Ministry of Housing of Trinidad and Tobago. “The success of our implementation at HDC is in large part attributable to the team’s strength and persistence. We are looking forward to our continued interaction with Fiserv’s professionals as we implement applications at our other agencies."
Beginning in 2002, MOH’s macro goal has been to progressively increase loans for each of the next ten years. MOH, whose mission is to “provide quality housing for quality living,” believes Fiserv can help it meet and exceed its aggressive growth plans. The new Fiserv solutions will also ensure the units are properly managed.
Dan Alf, Managing Director, Latin America, Canada and the Caribbean, Fiserv CBS Worldwide, said consolidating processing across multiple institutions while increasing automation has tremendous benefits for the organizations.
“Besides becoming more efficient, these entities have instituted a number of processes and procedures to improve financial controls and security,” said Alf. “They have made a number of improvements in the way they process information and provide management reporting. This will help them meet their goals of reducing costs, improving decision-making using better data, and providing a more responsive service to their clients.” About Fiserv CBS Worldwide
Fiserv CBS Worldwide is a unit of Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company that serves more than 18,000 clients in 66 countries around the world. Fiserv CBS Worldwide delivers end-to-end business and technology solutions for retail financial organizations, consumer finance institutions and credit unions throughout Europe, Asia-Pacific, Latin America, the Caribbean, Canada and the United States. Through its offices in the USA, UK, Poland, Russia, Singapore, Australia, China, Indonesia, Colombia, Costa Rica and Mexico, Fiserv CBS Worldwide enables financial institutions globally to deliver integrated solutions for managing the entire customer relationship from core banking to multi-channel customer contact and business intelligence. Fiserv CBS Worldwide can be found on the Internet at www.fiservcbs.com.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 18,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.5 billion in total revenue for 2006. For more information, please visit www.fiserv.com.
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CALYPSO NAMED BY MARKIT AS FIRST CERTIFIED PARTNER FOR TRADING AND PROCESSING SOLUTIONS
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Certification assures the highest quality of integration between the two systems
Calypso Technology, Inc., a leading provider of capital markets trading software solutions, announced that it has received Certified Alliance Partner status under Markit's certification program which was launched in January, 2007. Calypso is the first provider of trading and trade processing solutions to successfully complete the certification program.
In order to receive certification, Calypso's product management team for credit derivatives had to demonstrate that the completed integration of CDS, CDS Indices, Markit RED (Reference Entity Database) and tranche data met the integration standards defined by Markit. The certification means that joint customers of Calypso and Markit can be assured of a high quality of integration. The combination of Calypso's best of breed front-to-back solution for credit derivatives and Markit's leading independent credit data creates an unrivalled value proposition for any organization trading these products.
"Calypso has invested in an ongoing partnership with Markit for several years - we were the first vendor to integrate RED in 2004 and have expanded the integration of Markit data throughout our credit derivatives solution," said Charles Marston, CEO of Calypso Technology, Inc. "Beyond the certification, we continue to look at new ways to interface to Markit's offerings, for example, through our project to integrate Markit's Reference Cashflow Database for clients using Calypso to trade CDS on ABS."
"We are delighted to recognize Calypso as the first trading and processing solution provider among our alliance partners to receive formal certification. Calypso has proven the quality of its integration work, a process that was accelerated by the strength of the partnership between the two firms and the technical skills of individuals on both sides," said Nicola von Schroeter, Global Head of the Markit Alliance Program.
ABOUT CALYPSO TECHNOLOGY, INC. Since inception in 1997, Calypso's focus is to provide financial institutions with a solid infrastructure for automating their trading desks. Based on robust, flexible, modern software technology that can be deployed rapidly and is capable of supporting a range of asset classes, Calypso has the extensibility to meet the growing demands of an institution's business while also allowing the user to customize the Calypso software according to their needs. Calypso Technology, Inc. is an expanding organization with offices in ten locations worldwide. Calypso is a registered trademark of Calypso Technology, Inc.
For more information, please visit www.calypso.com
ABOUT MARKIT Markit Group Limited is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial and commodities markets. The company receives daily data contributions from over 75 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance.
Markit's position in the derivatives markets has been acknowledged by the industry with numerous awards. In 2006, the company won Operations Management's Vendor of the Year award (Trade Processing); Financial News' Best Derivatives Data Solution and Best New Vendor Solution (Portfolio Valuations); Credit's Best Operational Support Services Provider; Inside Market Data's Reference Data Provider of the Year, and Company to Watch; Risk's Trading Initiative of the Year (Credit Event Fixings); and Structured Finance International's Editor's Award for Advancing Structured Finance. In 2005, Markit received International Securitisation Report's Editor's Award for Innovation; International Financing Review's Innovation of the Year (Credit Event Fixings); Financial News' Best Derivatives Data Provider; and Operations Management's Vendor of the Year award.
For more information, see www.markit.com
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AMS Sagitta Now Offers Business Intelligence to the Enterprise Market
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AMS Services, the leader in insurance agency automation, announced the integration of AMS Sagitta®, an agency management system for larger agencies, bank-owned agencies and national brokers with AMS Performance Analyzer™, a business intelligence solution that provides agency executives clear visibility into agency performance. This unique combination will give large insurance agencies the ability to capture, visualize and report on critical data in order to make quick, informed decisions about business operations.
In today's world, knowledge is power and the use of information can be one of the most effective ways to gain a competitive advantage. And with the increasing complexity and continuing consolidation of the insurance agency sector, many organizations are left with little systematic insight into the condition of their business. Overrun with disparate systems and operational silos, organizations struggle to consolidate data into a format that enables them to readily assess overall performance. AMS Performance Analyzer makes it easy to analyze complex insurance data across multiple divisions, locations and databases to see how the entire organization is functioning. By using AMS Performance Analyzer and AMS Sagitta, institutions can gather information, browse report templates and create reports that leverage policy, commission, invoice and carrier information. The intuitive report formats enable users to identify trends and adjust their business accordingly. And because the data is already aggregated, reports can be generated and changed in seconds without IT assistance.
"We gather massive amounts of data every day with AMS Sagitta, but because of the complexity of our business, it just sat in the system," said Kathleen Hall, assistant controller, J.W. Terrill Inc. "When we started using the integrated AMS Performance Analyzer, we were able to take all of this information, run a briefing book report and then analyze the data. Being able to see where we are in real-time has increased our efficiency and productivity tremendously. We look forward to coming up with more reports and more uses for the solution."
"AMS Performance Analyzer delivers state-of-the-art tools agencies need to measure the health of their agency," said Bill Bunker, senior vice president of products and marketing, AMS Services. "The end result is the improved ability to increase profits and accelerate revenue growth."
About AMS Services AMS Services, a division of Vertafore, Inc., is dedicated to helping independent insurance agencies achieve maximum performance and operational efficiency. The company offers a comprehensive, insurance-specific solution for managing critical business activities, including agency management, rating, benefits, performance management and carrier connectivity. With more than 150,000 users in more than 15,000 agencies, as well as 600 carrier partners, AMS Services is a proven market leader providing the strategy and scalability to help independent agencies excel now and in the future. For more information on AMS Services, please visit www.amsservices.com.
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AMS 360 Fastest Growing Online Agency Management System
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New Version Includes Renewal Management, Improved Workflow and Third-Party Integration
AMS Services, the leader in insurance agency automation, announced that AMS 360® adoption grew by 67 percent in the last year, surpassing its other online agency management solutions. More than 16,000 users have realized the productivity gains of moving to AMS 360, a proven management system that provides a single, comprehensive view of an agency to maximize profitability and minimize risk. The latest release of AMS 360 seeks to improve agency efficiency and productivity even further with advancements in renewal management, workflow and integration with external systems.
"AMS 360 is our fastest growing agency management system and is now our most popular online solution," said Bill Bunker, senior vice president of products and marketing, AMS Services. "The tremendous growth can be attributed to the benefits it offers our customers. They are seeing results so they are making the move to AMS 360."
New Features Improve Efficiency Even Further
Independent agents continuously look for ways to maintain and grow their business while improving profitability. One way to achieve this goal is through proactively managing renewals. The new renewal management feature in AMS 360 is a specialized workflow that streamlines the process. Instead of working from a paper report, the electronic renewal list shows the current stage for each policy making it more efficient to keep and renew business. Managers and customer service representatives can see at a glance what the current stage is for each policy on the list and can assign users at any time during the process.
“With the renewal management feature in AMS 360, everything is electronic and automatically saved in the system, including comments and edits," said J. Brad Bruening, president of Bruening Insurance. "After just one month, we’ve eliminated the paper document that used to pass from person to person. The renewal management feature simplified the process and saved us a lot of time.”
This release of AMS 360 also offers a new Web Service application programming interface (API). This architecture provides secure access for other systems to import and export data directly from AMS 360. For example, an agency could build a special Web site for their clients to view and update their contact information. The information would then directly flow into the AMS 360 database. The Web Service API also provides access to data that may be used for enhanced reporting or data analysis.
In conjunction with the availability of the new API, AMS 360 now seamlessly interfaces with third-party document management solutions. Document360 directly links to documents and workflows in third-party solutions so users can manage documents efficiently without clicking between applications or systems.
Additionally, AMS 360 features new workflow improvements–including the ability to filter lists by employee, vendor, company and broker based on the user's business unit–and navigation enhancements that include a locked down navigation bar to enhance page scrolling and information views.
About AMS Services AMS Services, a division of Vertafore, Inc., is dedicated to helping independent insurance agencies achieve maximum performance and operational efficiency. The company offers a comprehensive, insurance-specific solution for managing critical business activities, including agency management, rating, benefits, performance management and carrier connectivity. With more than 150,000 users in more than 15,000 agencies, as well as 600 carrier partners, AMS Services is a proven market leader providing the strategy and scalability to help independent agencies excel now and in the future. For more information on AMS Services, please visit www.amsservices.com.
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Three Bankers’ Banks Join the LendingTools.com OnWe Network®
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First National Bankers’ Bank, Mississippi National Bankers’ Bank and the Alabama Bankers’ Bank are set to offer broad array of check image services to community banks
LendingTools.com, a leading application service provider (ASP) for correspondent and community financial institutions, announced that First National Bankers Bankshares, Inc. (FNBB, Inc.) licensed the rights for First National Bankers’ Bank, Mississippi National Bankers’ Bank, and Alabama Bankers’ Bank to each become a Community Host in the OnWe Network created by LendingTools.com.
“LendingTools.com has been a proven technology partner for First National Bankers Bankshares, Inc. and its subsidiaries for several years,” commented Joseph F. Quinlan, Jr., Chairman, President and CEO of First National Bankers Bankshares, Inc. “Our involvement with the OnWe Network will provide many potential long-term benefits to our community bank customers given the rapidly changing check clearing landscape.”
FNBB, Inc. was the first Banker's Bank financial corporation in the nation to develop the concept of separate bankers’ bank charters in individual states under one holding company. The concept supports the holding company’s belief that separate state organizations maintain better focus on each regional market and the correspondent bank services required to meet and exceed the needs of each.
The OnWe Network differs from national image exchange models by enabling on a local approach to meeting the exchange needs of community banks. Each OnWe Network Community Host manages a small set of “high hit rate” endpoints within their own service area thus driving down operational costs. For other endpoints, each Community Host can exchange with other Community Hosts or through the national services.
"The OnWe Network is the perfect solution for community bank image exchange and brings high concentrations of endpoints into play, even if they are not image enabled," said Eric Goering, president of LendingTools.com. "For the national banks needing to reach these community banks, the OnWe Network is the last mile for image exchange."
A hallmark of competitiveness, private labeling allows each OnWe Network Community Host to set certain operating parameters which will differentiate their services while operating under the umbrella of LendingTools.com technology and support. This approach is in line with LendingTools.com’s goal of enhancing the intermediation of correspondent service providers in payment transactions flows.
The OnWe Network, which will be re-branded by each of the FNBB, Inc. subsidiaries for marketing to its customers, is a solution for providing image services to respondent institutions and their customers. The solution aggregates the image cash letter activity of respondent institutions and provides multiple choices for routing the items, including the OnWe Network, for clearing and settlement of items between customers of First National Bankers’ Bank, Mississippi National Bankers’ Bank, and Alabama Bankers’ Bank.
About LendingTools.com
LendingTools.com, Inc. specializes in the design and delivery of web-based applications for the financial services industry and delivers them through correspondent institutions. Its On-We Network provides a low cost option for community bank image exchange through a series of On-We Network Community Hosts. Over 2,000 financial institutions utilize one or more LendingTools.com services daily to originate and process ACH, wire, and imaged check transactions valued in excess of one billion dollars. LendingTools.com, Inc. is a privately-held Kansas corporation, and was founded by and is operated by bankers. LendingTools.com has offices and data centers in Kansas and Texas. Please visit www.OnWe.com and www.LendingTools.com for more information.
About First National Bankers Bankshares, Inc
Headquartered in Baton Rouge, Louisiana, First National Bankers Bankshares, Inc. is the financial holding company of First National Banker’s Bank, Baton Rouge, Louisiana, Mississippi National Banker’s Bank, Ridgeland, Mississippi and Alabama Banker’s Bank, Birmingham Alabama. Through these wholly owned bank subsidiaries, FNBB, Inc. provides a full range of banking services to community banks in Louisiana, Mississippi, Alabama and the Southern United States.
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WAUSAU Receives Hyland Software Platinum and Diamond Awards at 2007 Team OnBase Conference
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WAUSAU, the industry leader in distributed payment and document processing, was recognized by Hyland Software, Inc., developer of the OnBase® enterprise content management (ECM) software suite, as a Platinum and Diamond Authorized IMS/ OnBase Solution Provider. WAUSAU, honored at the 2007 Team OnBase Conference in Phoenix on March 13-14, has been an Authorized IMS/ OnBase Solution Provider for more than 13 years.
Criteria for the Platinum level partner award in Hyland Software’s OnBase Authorized Solution Provider program include realized software revenue for 2006 and the number of new customers acquired during the same year.
The Diamond award recognizes partners for their superior technical support to customers. Recognition was provided to WAUSAU for realizing a 95%+ customer retention rate, providing direct support for its installed OnBase solutions, maintaining a minimum of two certified OnBase installers over the previous 12 months and participating actively in OnBase conferences and training opportunities.
"WAUSAU is again one of our most valued resellers, as they have been for several years," says Bill Priemer, Hyland’s chief operating officer. “As a partner-centric company, our OnBase Authorized Solution Providers are the life-blood of our organization. We are dedicated to their success and constantly work with them to deliver industry-leading ECM solutions and exceptional customer care. We are proud of these collective efforts and are very pleased to give special recognition to WAUSAU for a successful 2006.”
Hyland Software’s OnBase Authorized Solution Provider Program is comprised of companies that have proven capabilities in analyzing, designing and implementing customer-centric, ECM solutions. Team OnBase is the embodiment of Hyland Software’s support for its partners for the proper selling, installation and training of OnBase solutions. Team OnBase is comprised of consulting firms, hardware and software vendors, systems integrators and value-added resellers collaborating to consistently deliver streamlined work processes, improved business decisions and increased customer satisfaction.
"WAUSAU is proud to be a member of Hyland Software’s OEM partner program, and we are very pleased to have been recognized as a Platinum and Diamond Authorized IMS/ OnBase Solution Provider again this year. We leverage our strength as an OnBase partner to continue to pave the way as the industry leader for integrated payment processing solutions," stated Kathy Strasser, Senior Vice President - Enterprise Content Management Solutions for WAUSAU. "The results are high quality, enterprise-wide implementations that bring value and savings to both our customers’ operations and bottom line."
The Platinum and Gold award ceremony took place on Tuesday, March 13, and the Diamond ceremony took place Wednesday, March 14, at the 2007 Team OnBase Conference.
About Hyland Software Established in 1991, Hyland Software Inc. is the developer of OnBase, a rapidly deployable suite of enterprise content management (ECM) software applications. OnBase is a modular suite of ECM applications that includes document imaging, workflow, electronic document management, COLD/ERM and records management. OnBase Healthcare Solutions enable organizations to run more efficiently by managing content and streamlining workflows across the enterprise with point solutions for revenue cycle management, medical records and back office operations. For more information about OnBase, please contact an OnBase Authorized Solution Provider or visit www.onbase.com.
About WAUSAU
WAUSAU is a premier provider of payment and remittance processing solutions, serving businesses of all types to develop strategies that move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU’s innovative solutions provide results for a wide range of organizations including financial institutions, insurance companies, utilities, retail businesses and governmental agencies. Find more information about WAUSAU at www.wausaufs.com.
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Actimize and Corillian Deliver Integrated Cross Channel Fraud Solution
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Three top banks adopt the integrated solution for end-to-end protection
Actimize, a leading provider of fraud prevention and compliance solutions utilized by six of the top ten global banks, and Corillian Corp. (NASDAQ: CORI), the top provider of online banking, payment and security solutions to the financial services industry, announced support for the integration of the Actimize Cross Channel Electronic Banking and Payment Fraud Prevention solution and Corillian Voyager and Intelligent Authentication™ solutions. The combined offering provides comprehensive risk-based authentication and cross-channel transaction fraud monitoring for all online banking activity. Three top banking institutions have already adopted this integrated offering.
"In a June 2006 evaluation of online authentication and fraud detection vendors performed by Aite Group, Actimize was recognized as "Best Enterprise Fraud Management solution" and Corillian was awarded "Best Value For FFIEC Compliance For Corillian Online Banking Customers" said Gwenn Bezard, Research Director, Aite Group. "Cross-channel transaction fraud detection remains a blind spot at a large number of financial institutions today. The integration of the Actimize fraud prevention solution not only adds a robust transaction fraud detection layer on top of Corillian's authentication solution, but it also propels Corillian Voyager customers to the forefront of the cross-channel fraud prevention battle."
Together, these solutions provide proactive login and cross-channel transaction monitoring including ACH, wire transfer, bill payment and internal transfers. Once potential fraud is detected action is taken by either diverting a transaction for analyst review using the case management tools, challenging online banking users with additional security questions, or by blocking the transaction.
“By instituting this partnership with a leading fraud prevention provider, Corillian enables our Voyager platform customers to create the most secure online banking experience,” said Greg Hughes, Corillian chief security executive. “The solution helps financial institutions prevent cross-channel fraud and enhance their FFIEC compliance while minimizing end user impact.”
“Our vision and technology enable banks to break away from today’s siloed fraud solutions and deploy a holistic transactional fraud detection and prevention capability across the enterprise,” said Amir Orad, EVP and chief marketing officer. “We are excited to be working with Corillian, the leading online banking solution provider.”
Corillian Voyager is the industry-leading Internet banking platform enabling financial institutions to integrate Corillian online banking solutions, customer-written applications and third party applications to give their customers the tools to manage their financial lives efficiently and conveniently online. Corillian Intelligent Authentication employs a knowledge-based behavioral approach to authentication by building a history of "access signatures" for individual users. This is accomplished by collecting and validating information about each user's computer and method of Web site access without collecting personally identifiable information or requiring participation of the end user in the data collection process.
The Actimize Cross Channel Electronic Banking and Payment Fraud Prevention solution enables comprehensive monitoring of cross-channel transactions and greater visibility and correlation of suspicious activity across all of a bank’s lines of business. This unique approach allows security analysts to focus investigations on real threats while catching over 90% of all fraud cases.
About Actimize Actimize is a leading provider of enterprise software solutions for anti-money laundering, broker / dealer compliance, and fraud prevention. We deliver transactional risk mitigation solutions built on a patented, scalable, and extensible analytics platform. Actimize solutions enable financial institutions to increase their insight into real-time customer behavior and improve risk and compliance performance. Six of the top ten global banks and eight of the top ten US brokerages use Actimize solutions and in total our solutions provide surveillance and compliance monitoring for over US$5 trillion in assets. Actimize solutions have been implemented worldwide at leading financial services institutions including banks, brokerages, and insurance firms as well as regulatory bodies and government agencies. For more information visit: http://www.actimize.com.
About Corillian Corporation Corillian is the market leader of online banking, payment and security solutions to the financial services industry. With 30 of the top 100 U.S. banks and 21 of the top 100 U.S. credit unions as customers, Corillian serves over 35 million online banking end users. Corillian provides the most flexible, scalable and secure set of online banking applications across multiple lines of business, as well as an extensive set of integration solutions to enable seamless connectivity between legacy systems and Web and database applications. Corillian features integrated applications across Consumer Banking, Small Business Banking, Business and Consumer Payments, Wealth Management, Credit Card Management, and Corporate Cash Management, as well as enterprise wide solutions, including Fraud Detection, Alerts, eStatements, and OFX. Corillian's fraud prevention solutions use Preemptive Forensics™ to protect web sites from phishers, hackers, and fraudsters. Corillian's strong authentication solution provides a low-cost solution for multi-factor authentication while maintaining high user satisfaction. Empowered by Corillian solutions, some of the world’s most visionary financial institutions provide their customers with the tools to manage their finances more effectively and securely. For more information about Corillian Corporation, visit the company’s web site at http://www.corillian.com.
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Northwest Community Credit Union Selects Open Solutions’ Enterprise-Wide Data Processing Platform
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Credit union cites financial accounting, open architecture, Check 21 and disaster recovery functionality as key factors
Northwest Community Credit Union announced it has selected Open Solutions Inc.’s relational core data processing platform The Complete Credit Union Solution®, to address its enterprise-wide data processing needs. Open Solutions is a leading provider of integrated enabling technologies for financial service providers across the United States, Canada and other international markets.
Based in Springfield, Ore., Northwest Community Credit Union has $550 million in assets, 13 branches and more than 65,000 members. Following an extensive evaluation of other solutions, Northwest Community credits the open architecture and advanced functionality for its selection of Open Solutions’ TCCUS.
“We were immediately impressed with Open Solutions’ member-centric relational database,” said Helen Byrnes, president and CEO of Northwest Community Credit Union. “The system’s business model was much more sophisticated than other core data processing solutions we evaluated. By selecting Open Solutions, we will now have the capability to manage all of our member accounts, including mortgage, consumer and member business loans, deposits and other services from one single platform. This gives us an advantage in terms of target marketing, relationship pricing and being able to quickly deploy new products and services to our members. Many of our current manual processes, including return processing or split-rate interest rate caps will now be automated. Open Solutions’ technology will help the credit union further drive workflow efficiencies – saving us time and money which we can pass on to our members in the form of lower fees and better rates.”
Byrnes also cited Open Solutions’ Check 21, financial accounting and disaster recovery capabilities as influencing factors in the selection process.
“Open Solutions’ technology advances our Check 21 strategy to a new level,” explained Byrnes. “Having the ability to process checks electronically will not only have a profound impact on the earnings of the credit union, but will also significantly reduce incidences of fraud. We will now know within hours if someone has written a bad or counterfeit check. Additionally, disaster recovery is a major concern for the credit union. Following Hurricane Katrina, disaster recovery became a more prominent issue. Not many people realize credit unions are required to maintain a second robust site in case of a disaster. With the Open Solutions platform, we can easily maintain a second live back-up site.”
As Northwest Community Credit Union continues to grow, it wanted a solution that would not only support its current needs, but one that was scalable and flexible enough to support future needs. The Complete Credit Union Solution is built on a powerful, centralized OracleÒ relational database designed to be an open architecture application, creating the flexibility necessary for running a service-oriented financial institution. Moreover, it helps credit unions streamline both front and back office processes and creates a centralized view of members, employees and business partners.
“We expect to grow more than 50 percent within the next three years,” said Byrnes. “Following implementation, we’ll be able to add additional servers to support our continued growth – versus purchasing additional main-frames, which can be extremely costly. The open architecture fully supports our growth strategy. We are opening two new branches in 2007 and look forward to opening additional new branches in 2008 and beyond, better serving our members and continuing to expand within the community.”
In addition to The Complete Credit Union Solution data processing platform, Northwest Community Credit Union is also implementing Open Solutions’ integrated solutions including cView™ (CRM/business intelligence), credit card module, telephony/VRU and the Financial Accounting Suite (integrated financial management solution).
“Managing each member relationship is a priority for Northwest,” said Byrnes. “From a marketing perspective, we were very impressed with the cView solution. The member-focused tool gives a holistic view of all of our member relationships, including the relationships within an entire household.”
“At Open Solutions, we’re committed to providing community financial institutions like Northwest Community with the tools and applications they need to better focus their efforts on giving their members more personalized service and a full range of product offerings,” said Louis Hernandez, Jr., Open Solutions’ chairman and CEO. “Relationship management, retention and growth are very real concerns for executives of community financial institutions, so we’re always evaluating and delivering technology solutions that are powerful and focused on addressing those concerns. We are very pleased that Northwest has elected to put our flexible, open technology at the core of its technology infrastructure.”
About Open Solutions Inc. Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, interactive voice response, network services, Web hosting and design, and payment and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions’ Internet site at www.opensolutions.com.
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Whitehill Technologies one of the Top 3 "Movers and Shakers" in Canadian IT, according to the Branham 300
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Whitehill in Top 100 largest IT companies in Canada; Top 25 largest software vendors
Whitehill Technologies, Inc. has been named one of the Top Three "Movers and Shakers" on the 2007 Branham 300, an independent annual ranking of the 300 largest information technology (IT) companies in Canada.
The "Movers and Shakers" list represents companies that, through remarkable performance, showed the most significant increases in their rankings compared to last year's Branham listing.
Thanks to its 142% revenue growth, Whitehill rocketed up 48 places on the Branham ranking, from 143rd to 95th, making it one of the Top Three "Movers and Shakers" of the year.
This is the first time that Whitehill Technologies has cracked the Top 100 on the Branham rankings. Based on annual reported revenues, Whitehill is now the 25th largest software vendor in Canada, and the 5th largest privately held software company.
"Leapfrogging 48 places really is a tremendous achievement, especially when you consider our size," says Paul McSpurren, President & CEO, Whitehill Technologies, Inc. "Growth like this is pretty rare among companies as well established as ours." Whitehill served its 1,000th customer this year, and has 200 employees working at multiple locations in Canada, the United States and the UK.
"What isn't mentioned in the rankings, but which is even more important, is that Whitehill achieved all of this growth while remaining profitable," McSpurren continues. "Whitehill bases its business philosophy on three pillars: innovation, customer satisfaction, and business performance. Our entire staff made a great team effort to achieve tremendous growth over the past year, and to maintain our track record of high customer satisfaction."
The Branham Group provides "go to market" direction to IT product and service companies. The Branham 300 listing, published annually in the March issue of Backbone Magazine, is a ranking by revenue of the top Canadian IT companies. The listing offers a snapshot of the Canadian IT market, and has become an important gauge by which IT companies are measured. The complete Branham 300 listing is available at www.backbonemag.com.
About Whitehill Technologies, Inc.
Whitehill Technologies, Inc. develops and implements document and compliance automation solutions that help customers accelerate key business processes. More than 1,000 customers in 45 countries have used Whitehill software, including half the largest 100 insurers in North America and two thirds of the largest 250 law firms in the world. Headquartered in Moncton, New Brunswick, Canada, Whitehill is a privately held company with more than 200 employees in Canada, the United States and the UK. For more information, please call 1-888-944-8344 or visit www.whitehilltech.com.
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Daiwa Securities Extends XSP™ Corporate Actions Software Agreement with Xcitek®
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Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced that Daiwa Securities America Inc. has extended its XSP™ software agreement for Corporate Actions processing. The Japanese-owned broker/dealer, which experienced a record-breaking implementation of the application in just 30 days in 2004, has renewed its contract for another three years.
Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 compliant and features comprehensive data management components, workflow management modules, web and ISO messaging for client notification and response capture and complete entitlement processing. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes data from multiple vendor sources and custodian data. Through workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP also offers the ability to track event notifications and elections via its web-based module, eTRAN™, by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.
Nicholas C. Rubino, Executive Vice President & Chief Operations Officer, at Daiwa Securities, commented, “We are delighted to extend our relationship with Xcitek. Since the implementation of XSP at Daiwa in record time three years ago, XSP continues to reduce the risks inherent in the Corporate Actions process while enhancing the services we provide to our clients. Integrated with SunGard’s Phase3 securities processing solution, XSP helps us to achieve greater levels of straight-through processing to maximize operational efficiency. The solid results that we have achieved with XSP make this contract renewal a natural choice.”
Frank Piraino, Senior Vice President, XSP, at Xcitek said, “This agreement represents Daiwa’s ongoing confidence in Xcitek to deliver solid solutions. We are fully committed to providing the highest levels of value and service for our global client base. XSP’s proven functionality and ongoing product development provide our clients with the necessary tools to meet their challenges and exceed their expectations. Daiwa is a valued XSP client and we are pleased to continue servicing them for another three years.”
About Xcitek
Founded in 1986, Xcitek is the global leader in Corporate Actions software, market data and consulting services to the financial community.
Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 compliant and features an extensive workflow module, robust data scrubbing tools, web and ISO messaging for client notification and response capture (eTRAN™), and complete entitlement processing to manage the entire corporate actions lifecycle - thereby reducing risk and maximizing operational efficiency. With over 55 licensed clients, XSP™ is the most widely-implemented corporate actions system in the world.
Xcitek’s market data offerings include Corporate Actions, Cost Basis, Class Actions, Securities Payments, and other financial data, serving over 2,000 clients worldwide. Ranked #1 for ten consecutive years by The Summit Group, Xcitek has led all other providers in its categories in such areas as data accuracy, data timeliness, coverage and delivery reliability. User-friendly, flexible and affordable, Xcitek’s web-based solutions deliver time-sensitive and critical information straight to the desktop.
Xcitek’s consulting and staffing group provides financial institutions with highly skilled professionals for temporary and permanent placement in operations, outsourcing, project management and systems conversion. With its comprehensive database of experienced professionals, Xcitek carefully screens candidates to match clients with the appropriate personnel to assist them in successfully reaching their goals.
For more information, please visit http://www.xcitek.com/ or http://www.xsp.com/.
About Daiwa Securities America Inc. Daiwa Securities America Inc. is the principal US subsidiary of Daiwa Securities Group Inc., one of the world’s largest securities firms. The firm is a member of the major American securities and futures exchanges and is a US Treasury primary dealer. Headquartered in New York, Daiwa Securities America is a leading investment bank, underwriting equity and fixed income securities, and a leader in the sales and trading of Japanese and US equities, fixed income instruments and financial futures to institutional investors. For more information, please visit http://www.daiwausa.com/.
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JACK HENRY CONTINUES SUCCESS IN DE NOVO BANK MARKET
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73 De Novo Banks Select Jack Henry to Provide Enterprise-Wide Automation During the Past 18 Months | |
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Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, announced that it has added 73 de novo banks to its client roster during the past 18 months. Included among these new clients are some of the most highly capitalized de novo banks in Florida, Georgia, New York, North Carolina and South Carolina.
Tony Wormington , president of Jack Henry & Associates, said, “As consumer-demand for service-focused community banks continues to grow, de novo banks are being chartered nationwide at an increasing rate. And Jack Henry is being selected as the technology partner by a significant number of these growth-focused banks. We attribute our ongoing success in the de novo market to our ability to develop an information and transaction processing solution specifically for each bank. Based on each new bank’s technology requirements and operating plan, we combine a robust core processing platform, an in-house or outsourced processing environment, and the specific complementary products and services that support its business strategy.”
Among the 73 de novo banks recently selecting Jack Henry as their technology partner are North Carolina-based Park Sterling Bank and Georgia-based Bank of Atlanta.
Bank of Atlanta According to John Dalton, senior vice president for operations and strategic planning for Bank of Atlanta, “We identified a strategic opportunity to fill the void in the Atlanta marketplace that was created by mergers and acquisitions, so we developed a business plan to enter the market and support middle-market businesses with the personal service levels that community banks are known to provide. But we planned to differentiate our bank by providing the sophisticated financial products and services that exceed the capabilities of most community banks. We evaluated the top-tier providers of banking technology and visited existing clients of each company. Jack Henry clearly demonstrated that it provides the fully integrated, front-to-back office solution we need; and its existing clients confirmed its products and services stand the test of time. We ultimately elected to outsource our information processing to Jack Henry and selected its SilverLake System® as our operational core. In addition to this highly customizable, commercial-focused core functionality, we implemented many of Jack Henry’s complementary solutions, including check and document imaging; Check 21 solutions; ATM and debit card solutions; deposits, loans, and teller platforms; Internet banking; electronic bill pay; Internet-based cash management; remote deposit capture; enterprise-wide profitability management; and fraud detection and prevention. Based on the implementation process, the distinct service levels we consistently experience, and our day-to-day use of Jack Henry’s core and complementary solutions, we would absolutely make the exact same technology decision today.”
Park Sterling Bank Charlotte-based Park Sterling Bank raised $45 million in capital, positioning it as the highest capitalized de novo bank chartered in North Carolina. Bryan Kennedy, president and CEO, said, “While working for another bank that used Jack Henry’s SilverLake System, I gained first-hand experience with the core functionality, with many of the fully integrated complementary solutions, and with Jack Henry’s commitment to customer care. This real-world experience, coupled with an evaluation of several competitive alternatives that was managed by an independent consultant, confirmed that the SilverLake System delivered in an outsourced environment provides the flexible and customizable functionality that our relationship-focused bank needs to attract, serve, and retain retail and commercial customers in our highly competitive business environment. We are confident that our offering, backed by Jack Henry’s technology, positions Park Sterling Bank with virtually any financial product or service that our customers want and that our competitors provide.”
Jack Prim , CEO of Jack Henry & Associates, reported, “We are seeing a number of start-up banks with the business plans and the capitalization that can quickly propel them into the mid-tier arena, and we are confident that our extensive product and service offering can meet their dynamic technology requirements. We are strategically positioned for ongoing growth in the banking industry with core processing solutions that are functionally compatible and cost-effective for institutions ranging from de novo to mid-tier banks; and with highly specialized ProfitStars™ solutions that enable financial services organizations of all asset sizes and charters to respond to specific business opportunities and challenges.”
According to Kevin Williams, CFO of Jack Henry & Associates, “The ability to provide turnkey technology solutions that enable de novo banks to aggressively and successfully compete day-one has positioned Jack Henry with a strong and growing presence is this market. While these start-up banks typically do not generate a material or immediate impact on our earnings, the long-term growth and cross-sales opportunities they generate represent an important component of our sales and growth strategies.”
About ProfitStars ProfitStars, a division of Jack Henry & Associates (Nasdaq: JKHY), provides best-of-breed solutions that improve the performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These solutions facilitate revenue and growth, risk mitigation and control, and cost control; and complement virtually any core information processing platform. Additional information is available at www.manageforperformance.com or by calling 877-827-7101.
About Jack Henry & Associates Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States, and has more than 8,700 customers nationwide. For additional information on Jack Henry, visit the company’s Web site at www.jackhenry.com. | |
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Banks Continue Challenge With Check Fraud Detection and Remote Deposit Capture
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Who: Brian Dunne, vice president of SQN Banking Systems, a leading provider of check fraud detection software, signature and check image analysis systems for the banking industry is available to provide expert commentary on check fraud detection in the remote deposit capture environment enabled by Check 21. What: With the growing adoption of remote deposit capture, financial institutions are becoming increasingly exposed to the possibility of duplicate presentments – the same check deposited at multiple points – and are quickly realizing the need to deploy advanced technological tools that will identify parties attempting to defraud the institutions. Brian Dunne will discuss:
● How remote deposit capture accelerates the check clearing process, giving the financial institution added security against fraud
● How anti-fraud tools can catch fraudulent transactions prior to posting
● How fraud detection can be accelerated from day-two to day-one or day-zero
● How image analysis tools come into play in spotting fraud
● Other fraud factors involved in a RDC environment
Contact: To speak with Brian Dunne or for more information, contact Mike Klim at 678-781-7237 or email at mklim@williammills.com
About SQN Banking Systems
For more than 20 years, SQN Banking Systems has provided integrated fraud detection and process improvement products for the financial industry, meeting the needs of financial institutions of all sizes. The SENTRY suite of products includes software to streamline exception item processing, check and deposit fraud detection, check image analysis, image-survivable security features, automatic signature comparison and display, and safe deposit automation. More than 500 SQN customers have improved their earnings and reduced check fraud losses by as much as 84 percent with SENTRY. For more information, visit SQN’s Web site at www.sqnbankingsystems.com.
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Open Solutions Inc.® Adds Back Office Conversion and Accounts Receivable Conversion to Remote Capture Deposit Services
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Financial institution clients to benefit from new NACHA rules for BOC and ARC
Open Solutions announced it has extended its remote deposit capture services to include back office conversion (BOC) and accounts receivable conversion (ARC). Open Solutions is a leading provider of integrated enabling technologies for financial institutions in the United States, Canada and other international markets.
New BOC operating rules issued by the National Automated Clearing House Association (NACHA) and the Electronic Payments Association become effective on March 16, allowing merchants and businesses to convert eligible checks to ACH transactions during back office processing rather than at the point of purchase. Similarly, mailed payments received by merchants can be converted to the ARC format and transmitted as an ACH file to their financial institution for processing.
“As the newest forms of check conversion, BOC and ARC will significantly benefit financial institutions, retail merchants and billers by virtually eliminating geographic boundaries and streamlining electronic check deposits into a single process,” said Marcell King, vice president and co-general manager of Open Solutions Imaged Payment Technologies Group. “Open Solutions is prepared for the BOC rule changes. Our financial institution clients will reap the benefits of faster funds availability, better commercial business services, reduced check processing costs and more accounting controls.”
Designed to provide the “best clear option,” BOC functionality allows business customers to choose from a Check 21 format or ACH format. To minimize exceptions, Open Solutions’ remote deposit capture solution automatically detects ineligible ACH items and converts them into Check 21 format. Open Solutions’ financial institution clients have already begun beta testing the new BOC and ARC functionality with their customers.
According to NACHA estimates, as many as 3.2 billion checks were converted into ACH payments in 2006 representing an increase of 36 percent over 2005. The existing form of check conversion in use at many retail locations grew by an estimated 60 percent in 2006.
About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, interactive voice response, network services, Web hosting and design, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions’ Internet site at www.opensolutions.com.
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American Family Insurance Selects Exstream’s Dialogue Software
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Exstream Software, Inc. announced that American Family Insurance, a multi-line insurance company and one of the largest property-casualty insurers in the nation, has selected its Dialogue enterprise document automation software as a platform to help streamline document production processes. Using Dialogue, American Family will replace multiple legacy technologies currently deployed to create communications that include letters, bills and other policyholder correspondence. Moving toward a single solution allows the company to better share internal development resources and reduce overall costs.
“Providing an innovative company like American Family Insurance the software solution it needs to streamline its document creation, management and delivery is very exciting,” said Michael Charest, vice president, insurance services for Exstream. “We are proud to be working with American Family Insurance and look forward to helping them achieve their goals.”
About American Family Insurance
Based in Madison, Wis., American Family Insurance offers auto, homeowners, life, health, commercial and farm/ranch insurance, plus financial services, in 18 states. American Family ranks 323rd on the Fortune 500 list and is the nation’s 14th largest property-casualty insurance group and 3rd largest mutual property-casualty insurance company.
About Exstream Software
Ranked among the world’s fastest growing technology companies, Exstream Software provides enterprise software solutions for businesses around the world to streamline document creation processes and produce higher quality, relevant communications of all types for delivery through print/mail and online channels. Companies in the financial services, insurance, healthcare, service provider, telecommunications, utilities, hospitality, retail, government, and other industries benefit by getting communications to market as much as 85 percent faster, reducing document production costs up to 80 percent, and as much as tripling customer response. Visit Exstream at www.exstream.com, or contact +1 859-296-0600 or info@exstream.com for more information.
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Michigan Millers Mutual Insurance Selects New commercial Policy Administration Solution- AQS/advantage™
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AQS®, Inc., a leading provider of commercial policy administration solutions to the property and casualty insurance industry, has signed a licensing agreement with Michigan Millers Mutual Insurance Company to provide Michigan Millers and its agents with AQS/advantage™, a comprehensive commercial lines system that is extensible to internal and external stake holders. The AQS/advantage™ components licensed include AQS’ policy administration system (PAS) and AQS/advantage™ Integrator, which is a backend administrator tool used to monitor the ETL process providing success/failure notifications from the client’s backend systems.
The driving force behind Michigan Millers need to implement a new commercial PAS was to gain efficiency in underwriting processes, faster turn around for new business and renewals, and extend policy administration capabilities, including new business, endorsements and renewals, to their agents. “The driving objective of our search was to upgrade our commercial lines policy administration capabilities to allow us to easily extend and customize the interactive real time experience of our agents. With AQS/advantage™ we’ll be able to extend and improve our service to agents and policyholders, reduce costs and gain the competitive advantage of once and done processing,” said Tom Lindell, Executive Vice President at Michigan Millers.
Michigan Millers went through a thorough evaluation process before choosing the AQS/advantage™ suite including a comprehensive “Proof of Concept” to verify viability. “From a technology standpoint, one of our primary concerns was the speed-to-market capabilities of the system,” stated Ralph Sukla, Vice President – Information Systems. “We need to introduce new, industry responsive products and provide the ease of use characteristics critical in this competitive market. The AQS/advantage™ solutions satisfy our technology strategy because it utilizes standards and Web services to transfer data from AQS/advantage™ to other systems. This will increase our internal productivity and improve our external responsiveness,” said Sukla.
”We have aggressive implementation plans, but in controlled phases, that incrementally add value commensurate with our investment. We expect superior performance from our technology providers, and we believe AQS is one of the top performers in this space. We know we can count on them to execute throughout the entire implementation process, and behave like a true partner,” said Lindell.
“Michigan Millers is an outstanding company with excellent insurance and technology capabilities” said Dave Kerford, AQS’ President and CEO, “We are pleased to have been selected as a key technology partner of Michigan Millers, and we are committed to helping them in achieving their strategic objectives of excellence in both insurance and related technology.”
About Michigan Millers Mutual Insurance Company
Michigan Millers Mutual Insurance Company, headquartered in Lansing, MI, underwrites auto, homeowners, agribusiness insurance and a full range of property and casualty coverages for small and midsize businesses. Michigan Millers is committed to delivering a high level of customized and very personal service. This commitment is transforming Michigan Millers from "just another insurance company" to an extraordinary one.
About AQS, Inc. Since 1979, AQS has provided leading policy administration solutions for commercial property and casualty insurance carriers. In addition to its innovative Web-centric product, AQS/advantage™, and integration solution, AQS/advantage™ Integrator, AQS provides diverse professional service solutions to 35+ insurance companies throughout the United States. AQS/advantage™ supports all transactions for all commercial lines of business, in all states. The system is architected for scalability and leverages the Internet and innovative technologies such as Web services and .NET to automate and shorten the entire policy transaction lifecycle. AQS is a Microsoft® Gold Certified Partner. For more information on AQS and the AQS/advantage product suite, please contact AQS or call Nancy Hines at 262.369.7500.
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Lanier Upshaw Selects Hyland’s OnBase ECM Solution to Expedite Workflows
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Insurance brokerage firm yields more than 15 % in productivity improvements
Hyland Software Inc., developer of the OnBase® enterprise content management (ECM) software suite, announced that Lanier Upshaw, a leading regional insurance brokerage firm headquartered in Lakeland, Fla., has selected OnBase to streamline the access and control of documents, e-mail and other data across the company.
Using the OnBase ECM solution, Lanier Upshaw provides instantaneous access to data, documents, records, reports and e-mail throughout its organization including remote offices in Tampa and Winter Haven and the central operations in Lakeland, Fla. All departments have access to the OnBase system and use it to speed processing, customer inquiries and decisioning across the company. The OnBase ECM system was implemented with comprehensive integration to AMS Sagitta® agency management system in only 60 days.
“We were looking for a solution that expanded beyond just scanning documents,” said Ryan Deeds, vice president of Information Technology for Lanier Upshaw. “Fast, easy data retrieval, fast deployment and remote access were key criteria in our decision to go with OnBase. Initially, our employees were apprehensive to try a new system, however, they were thrilled to see that OnBase was much easier to use and made a greater impact than our previous solution. Overall, we estimate that time savings with the OnBase solution has yielded a 15 percent productivity improvement over our former solution.”
Prior to OnBase, Lanier Upshaw’s employees retrieved electronic documents through a time-consuming process, cross referencing annotated notes in the agency management software and then finding the documents on the network. On average, the process took up to eight minutes of lookup time. With the OnBase ECM system, all mail is scanned into the central location and documents are routed to the correct employees for work using a bar code data system.
“In working with Lanier Upshaw we noticed that significant productivity improvements were gained in customer service response times,” said Tim Tallaksen, director of Insurance Solutions for Hyland Software. “Client service representatives (CSRs) often have to access documents 20 to 30 times per day in an insurance firm. Dealing with these time-consuming processes meant that it could take up to four hours for Lanier Upshaw CSRs to find and retrieve documents. All that is now instantaneously accessible to employees whether they are working at the headquarter location, remote office or at home.”
About Lanier Upshaw
Lanier Upshaw is a full service, independent insurance agency that provides the right combination of coverage, service and price tailored to client needs with experts delivering the most comprehensive level of protection available. With offices in Lakeland, Tampa, Jacksonville, Tallahassee and Pensacola, Lanier Upshaw is the insurer of choice in the southeastern region. You can visit Lanier Upshaw online at www.lanierupshaw.com or contact them at (863) 686-2113.
About Hyland Software Inc.
Established in 1991, Hyland Software Inc. is the developer of OnBase, a rapidly deployable suite of enterprise content management (ECM) software applications. OnBase is a modular suite of ECM applications that includes document imaging, workflow, electronic document management, COLD/ERM and records management. OnBase allows insurance carriers, managed general agents, and third party administrators to streamline processes and improve service levels across the enterprise, including strategic areas such as new business, underwriting, claims, regulatory compliance support and customer service. For more information about OnBase, please contact an OnBase Authorized Solution Provider or visit www.onbase.com.
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Fiserv Acquires Global Financial Crime Management Leader, NetEconomy
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Solutions will strengthen clients’ ability to combat fraud and money laundering
Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry worldwide, announced it has acquired NetEconomy, a leading financial crime management and compliance solutions provider to financial institutions across the globe with more than 130 implementations in 58 countries. Financial terms of the acquisition were not disclosed.
NetEconomy, founded in 1993, is headquartered in The Hague, The Netherlands, with offices in London, Paris, Boston, New York, Sydney, Shanghai, and Kuala Lumpur, Malaysia. NetEconomy, owned by Esprit Capital Partners since August 2005, provides highly effective and easily deployable solutions for anti-money laundering, fraud prevention and compliance.
“NetEconomy’s proven products and strong management team will be at the forefront of our efforts to deliver value in the important growth area of enterprise risk management. We will now be able to provide banks, thrifts and credit unions a superior solution for both anti-money laundering and fraud management which will be integrated into all of our core account processing platforms – and at the same time, continue to serve large financial institutions who desire a superior risk management solution,” said Fiserv President and Chief Executive Officer Jeff Yabuki. “This is a prime example of how our Fiserv 2.0 strategies come together to benefit clients. We bring high-quality technology products to our client base to help them achieve best-in-class results. We will continue to expand our capabilities in this important area.”
“Fiserv is a trusted and world-class organization, providing end-to-end software solutions, and processing data for accounts and transactions across thousands of financial institutions. As a core building block of Fiserv’s enterprise risk, compliance and fraud platform, we look forward to working together to help financial institutions meet the business challenges of risk management and compliance,” said Sebastian Kuntz, chief executive officer of NetEconomy. “NetEconomy is delighted to now be part of Fiserv. This will advance our client reach, and accelerate the innovation and development of our fraud, risk and anti-money laundering solutions to better serve and grow our global customer base.”
Neil Katkov, industry analyst at Celent said of the acquisition, “NetEconomy has leading-edge solutions for anti-money laundering, fraud and compliance, while Fiserv is a major provider of technology and outsourced services to the financial industry. Fiserv will be now able to offer a solid financial crime offering along with its traditional hosted and stand-alone core processing systems – an attractive combination.”
Fiserv will offer a holistic enterprise risk, compliance and fraud solution integrated with all Fiserv core account processing platforms. From this, Fiserv plans to aggressively provide – either through organic innovation or continued acquisition – state-of-the-art client solutions in enterprise risk management including governance and compliance.
“We recognize that our clients, both financial institutions and their executives, face a higher level of accountability and need these solutions to fight financial crime. The acquisition of NetEconomy addresses these challenges by providing a key component to develop and deliver a premier enterprise risk, compliance and fraud platform for Fiserv,” said Rahul Gupta, group president, payments and industry products, which includes Fiserv’s risk management products. “We believe this is the best-in-market platform. We will continue to invest in advanced real-time architecture that will further enhance fraud detection and prevention capabilities, keeping our value proposition ahead of our competitors.”
Gupta explained that the NetEconomy acquisition is an essential building block of Fiserv’s strategy to develop and deliver the premier enterprise risk, compliance and fraud management solution for financial institutions worldwide, using underlying advanced analytics that offer greater business risk insight, increased operational efficiencies, and a flexible platform to manage evolving risk and compliance requirements.
About NetEconomy
NetEconomy, based in The Hague, with offices in London, Paris, Boston, New York, Sydney, Shanghai, and Kuala Lumpur, Malaysia, and distributors and strategic partners across South Africa, Australia, Europe, Southeast Asia, and the United States, is the leading provider of financial crime management and compliance solutions. NetEconomy brings business value to its worldwide client base through its personalized customer approach for minimizing regulatory risk, delivering measurable results, and protecting corporate brand and reputation. For more information, please visit www.neteconomy.com.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.5 billion in total revenue for 2006. For more information, please visit www.fiserv.com
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AMS Services Launches Latest Version of AMS SETWrite
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Real-Time, Comprehensive Driver Information Now Available through Exclusive Partnership with ChoicePoint
AMS Services, the leader in insurance agency automation, announced the release of the latest version of its real-time, multiple-carrier rating solution, AMS SETWrite™. This new version of AMS SETWrite includes the integration of Solutions at Quote, powered by ChoicePoint. AMS Services signed a strategic alliance agreement with ChoicePoint to be the exclusive provider of Solutions at Quote in the comparative rating industry through 2007. This is the first in a series of ChoicePoint and AMS Services product integrations and represents significant progress for the industry's efforts to provide customers with more efficient workflows and accurate information for new business rating and submission.
Solutions at Quote provides the user with real-time, comprehensive driver and vehicle information. Integrated into AMS SETWrite, Solutions at Quote further reduces data entry by eliminating the need to enter driver and vehicle information including Vehicle Identification Numbers (VIN) and drivers' license information during t | | |