- $738 Million Bank Selects BISYS Based on Leading-Edge Technology,
Product Flexibility, and Client-focused Approach -
NEW YORK, Jan. 13 /PRNewswire-FirstCall/ -- BISYS, a leading provider of
business process outsourcing solutions for the financial services sector,
today announced that it has entered into a multi-year outsourcing agreement
with Cincinnati-based Peoples Community Bank. Following a comprehensive
evaluation of the leading outsourcing providers, Peoples Community Bank, which
has assets of approximately $738 million as of September 30, 2003, selected
BISYS to provide enterprise-wide information processing services and
technology.
BISYS' relational database core processing platform will support Peoples
Community Bank with an extremely flexible technology infrastructure, improved
data access, and the advanced capabilities necessary to support its customers
with more personalized service. The bank also will initially implement
several of BISYS' integrated ancillary products, including Internet and
telephone banking, and data warehousing solutions.
According to Jerry D. Williams, president and CEO of Peoples Community
Bank, "After evaluating multiple vendors, we narrowed our evaluation to
include four leading providers and ultimately selected BISYS based on its
flexible and scalable core processing solution. We believe the system's
inherent ease-of-use and its advanced technology will enable us to better
support our growing customer base. BISYS also has an excellent reputation for
service and support. As we work to proactively meet the changing needs of our
customers, we want a technology partner that fully understands our operational
requirements, and can provide the banking and business solutions required to
support our ongoing growth."
Bill Neville, president of BISYS Information Services, reported, "Our
fundamental goal is to support progressive institutions like Peoples Community
Bank with the technology and support necessary to achieve their growth,
performance, and service goals. After a comprehensive and professional
evaluation of our outsourcing services, Peoples Community Bank recognized that
BISYS' Internet-accessible banking solutions, core functionality, and suite of
more than 70 integrated ancillary products will enable it to deliver the high-
demand products and services its customers want. We are pleased to add
Peoples Community Bank to our client roster and welcome the opportunity to
support its evolving, growth-focused business needs."
About Peoples Community Bank
Peoples Community Bancorp, Inc., headquartered in West Chester, Ohio, is
the holding company for Peoples Community Bank. The Bank is a 114 year-old
federally chartered savings bank with 13 full-service offices in Butler,
Warren, and Hamilton counties in Southwestern Ohio. The bank is an
independent community bank, which offers a wide variety of financial services
and products to customers throughout the greater Cincinnati metropolitan area.
For more information, please visit the bank's Web site at http://www.pcbionline.com.
About BISYS Banking Solutions
BISYS provides one of the most comprehensive information processing
solutions, integrating core banking applications with more than
70 best-of-breed ancillary products. BISYS' bank-wide automation supports
commercial and retail banking, electronic and Internet-based transactions,
branch services, customer relationship management, data warehousing, executive
decision-support, and imaging. BISYS continually enhances the functionality of
its banking solution by integrating new ancillary products and advancing
technologies. The American Bankers Association (ABA), through its Corporation
for American Banking (CAB) subsidiary, exclusively endorses BISYS' core
information processing solution as the recommended solution for community
banks.
About BISYS
The BISYS Group, Inc. (NYSE: BSG), headquartered in New York City,
provides business process outsourcing solutions that enable investment firms,
insurance companies, and banks to capitalize on convergence by entering new
segments of the financial services industry. BISYS currently supports more
than 22,000 domestic and international financial institutions and corporate
clients through three business units. Its Investment Services group provides
administration and distribution services for approximately 370 clients,
representing approximately 2,100 mutual funds, hedge funds, private equity
funds, and other alternative investment products with approximately $700
billion in assets under administration. BISYS' largest group also provides
retirement services to more than 17,000 companies in partnership with 40 of
the nation's leading banks and investment management companies, and offers
analytical research and competitive intelligence through its Financial
Research Corporation (FRC) subsidiary. Through its Insurance and Education
Services group, BISYS is the nation's largest independent distributor of life
insurance and the premier provider of the support services required to sell
traditional and variable life, long-term care, disability, and annuity
products. BISYS is also the nation's second largest independent wholesale
broker of commercial property/casualty insurance. This group complements its
insurance distribution services with a comprehensive compliance management
solution that supports insurance and investment firms and professionals with
more than 215 certification and continuing education training courses, and a
sophisticated suite of products and services that automates the entire
licensing process. BISYS' Information Services group supports approximately
1,450 banks, insurance companies, and corporations with industry-leading
information processing and imaging solutions, turnkey asset retention
solutions, and specialized corporate banking solutions. Additional
information is available at http://www.bisys.com.
Except for the historical information contained herein, the matters
discussed in the press release are forward-looking statements within the
meaning of the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including
but not limited to economic, competitive, governmental and technological
factors affecting The BISYS Group, Inc.'s operations, markets, services and
related products, prices and other factors discussed in The BISYS Group,
Inc.'s periodic filings with the Securities and Exchange Commission.
SOURCE The BISYS Group, Inc.
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Related links:
http://www.bisys.com
http://www.pcbionline.com
Company News On-Call:
http://www.prnewswire.com/comp/851938.html
CONTACT:
Bill Neville, President of BISYS Information
Services, +1-781-829-8000
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