JACKSONVILLE, Fla., April 29 /PRNewswire-FirstCall/ -- Fidelity National
Financial, Inc. (NYSE: FNF), a Fortune 500 provider of products and outsourced
services and solutions to financial institutions and the real estate industry,
and its Fidelity Information Services division announce that Bank Leumi USA
has signed an early extension of its core processing outsourcing agreement on
the Systematics system processed out of the vendor's Little Rock technology
center. Bank Leumi USA is a $5.3 billion subsidiary of the Leumi Group,
Israel's leading banking group. Bank Leumi USA has been a satisfied Fidelity
Information Services user since 1992 and under this new agreement continues
the relationship for the next five years. As part of this agreement, the bank
has also purchased four products from Fidelity's TouchPoint(R) suite of
customer interaction management solutions. TouchPoint Internet Banking(TM) and
TouchPoint Account Analysis(TM) are scheduled for rollout in the third quarter
of 2004, and TouchPoint Sales(TM) and TouchPoint Service(TM) are scheduled for
pilot testing in October.
Bank Leumi USA, which specializes in international, commercial middle
market and private banking, added TouchPoint because of its ability to provide
the user with a comprehensive, real-time view of the customer's entire
relationship. Bank Leumi USA's long relationship with Fidelity contributed to
the decision to stay with the same family of products for front-end delivery
of customer information. Another important consideration in the decision was
TouchPoint's multicurrency capability, a new feature available with the new
release of version 10.0.
According to Jose Paulucci, executive vice president and head of IT and
operations for Bank Leumi USA, "We looked at several alternatives and decided
that TouchPoint, combined with the Systematics core banking solution, provided
the capabilities we were seeking to improve our application system
infrastructure. Since we have an established relationship with Fidelity, we
see it as an added advantage to use a single vendor."
Dr. Zalman Segal, chief executive officer of Bank Leumi USA, said, "We
have embarked on an ambitious information technology plan to upgrade our
systems. This work will allow us to achieve substantial improvements in client
service delivery, management information reporting and monitoring
capabilities. We will be able to provide our customers with state-of-the-art
e-banking and an enhanced, competitive cash management system."
"Our expanded relationship with Bank Leumi USA is an important one for us
and represents several significant milestones," said Ernie Smith, president of
Fidelity Information Services. "In particular, this is the first
implementation of TouchPoint with a Fidelity core processing user since we
acquired the system last year, and it is also the first installation of the
recently released TouchPoint 10.0 product with enhanced multi-currency
capabilities."
Fidelity National Financial, Inc., number 262 on the Fortune 500, is a
provider of products and outsourced services and solutions to financial
institutions and the real estate industry. The Company had total revenue of
more than $7.7 billion and earned more than $860 million in 2003, with cash
flow from operations of nearly $1.3 billion for that same period. FNF is one
of the world's largest providers of information-based technology solutions and
processing services to financial institutions and the mortgage and financial
services industries through its subsidiary Fidelity Information Services, Inc.
Fidelity Information Services processes nearly 50 percent of all U. S.
residential mortgages, with balances exceeding $3 trillion, has processing and
technology relationships with 46 of the top 50 U. S. banks and has clients in
more than 50 countries who rely on its processing and outsourcing products and
services. Additionally, FNF is the nation's largest title insurance company
and also provides other real estate-related services such as escrow, flood and
tax certifications with life of loan monitoring, merged credit reporting,
property valuations and appraisals, default management, relocation services,
flood, homeowners and home warranty insurance, exchange intermediary services,
mortgage loan aggregation and fulfillment, multiple listing services software,
mortgage loan origination software, collateral scoring analytics and real
property data. More information about the FNF family of companies can be
found at http://www.fnf.com and http://www.fidelityinfoservices.com.
This press release contains statements related to future events and
expectations and, as such, constitutes forward-looking statements. These
forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements of the Company to be different from those expressed or implied
above. The Company expressly disclaims any duty to update or revise forward-
looking statements. The risks and uncertainties which forward-looking
statements are subject to include, but are not limited to, the effect of
governmental regulations, the economy, competition and other risks detailed
from time to time in the "Management's Discussion and Analysis" section of the
Company's Form 10-K and other reports and filings with the Securities and
Exchange Commission.
SOURCE Fidelity National Financial, Inc.
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Related links:
http://www.fnf.com
http://www.fidelityinfoservices.com
CONTACT:
Daniel Kennedy Murphy, Senior Vice President,
Finance and Investor Relations, Fidelity National Financial,
Inc., +1-904-854-8120, dkmurphy@fnf.com; or Kevin Lash, Vice
President, Business Development and Marketing, Fidelity
Integrated Financial Solutions, +1-407-875-1818 ext. 309,
Kevin.Lash@fnf.com
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