- Seven Banks Nationwide Select BISYS
to Provide Outsourced Information Processing Services -
NEW YORK, Jan. 28 /PRNewswire-FirstCall/ -- BISYS, a leading provider of
business process outsourcing solutions for the financial services sector,
today announced near-record new client sales of its bank outsourcing services
during its quarter ended December 31, 2003. A total of seven banks located
throughout the United States selected BISYS to provide enterprise-wide
information processing outsourcing services and technology. These financial
institutions, which collectively process with five different BISYS
competitors, will leverage BISYS' relational database core processing platform
and a variety of its integrated ancillary products to improve their
operational efficiencies and customer service.
The new bank clients include a Michigan-based billion dollar holding
company that is chartering a bank, an Ohio-based $600 million community bank,
and market-leading financial institutions in California, Kentucky,
Massachusetts, and New Jersey. Each of these new clients ultimately selected
BISYS based on the superior technology provided by its relational core
processing platform, its extensive suite of integrated ancillary products, and
its reputation for excellent client service and support. Each client will
initially incorporate a variety of BISYS' ancillary solutions, including
Internet and telephone banking and data warehousing solutions.
According to Bill Neville, president of BISYS Information Services,
"BISYS' focus on technology and service is the foundation for our growth. Our
outstanding sales success during the quarter strengthens BISYS' position as a
market leader in bank outsourcing services, and the momentum these sales
establish support our ongoing commitment to research, product development, and
marketing in order to continually enhance our product offering and our
competitive position. Being selected as the outsourcer-of-choice by these
diverse banks after extensive competitive evaluations demonstrates the
flexibility of our solutions and our commitment to delivering high-quality
services to our clients. As the banking industry evolves and consumer demands
for personalized service increase, we will continue to provide the innovative
products and services our clients need to better serve their customers. Our
fundamental goal is to maintain our position as an industry leader, to
encourage technological innovation within BISYS, and to continue forging
strategic alliances with technology companies developing solutions that
complement BISYS' industry-leading platforms."
Michael Langenkamp, executive vice president of new business for BISYS
Banking Solutions, said, "Our relational core processing solution was a key to
our success during this past quarter. The banking industry's demand for
innovative products and services that successfully leverage advancing
technology requires us to provide a flexible processing solution with broad
capabilities. BISYS' comprehensive outsourcing solutions enable our bank
clients to maximize their customer relationships with enhanced service levels,
easy data access and comprehensive views of each customer relationship, the
ability to tailor their product offerings based on customer-specific needs,
and the sophisticated capabilities to conduct direct marketing campaigns and
efficiently manage sales leads and service requests."
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 2,200 mutual funds, hedge funds, private equity
funds, and other alternative investment products with approximately $750
billion in assets under administration. BISYS' largest group also provides
retirement services to more than 18,000 companies in partnership with 40 of
the nation's leading banks and investment management companies, and offers
analytical research and competitive information 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 distributor 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
Company News On-Call:
http://www.prnewswire.com/comp/851938.html
CONTACT:
Bill Neville, President, BISYS Information
Services, +1-781-829-8000
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