- Innovative Industrial Loan Bank Chooses BISYS Based on In-house Talent,
Product and Service Offering, Technology, and Integration Expertise -
NEW YORK, Aug. 20 /PRNewswire-FirstCall/ -- BISYS, a leading provider of
business process outsourcing solutions for the financial services sector,
today announced that it has been selected by Exante Bank, Inc., a start-up
Industrial Loan Corporation (ILC) chartered in Utah to serve the healthcare
industry. BISYS will support this innovative bank's launch and ongoing
information processing requirements with its ABA-endorsed core banking
platform, several fully integrated best-of-breed ancillary solutions including
its state-of-the-art customer care and data warehouse solutions, as well as
several custom components.
According to Exante president and chief operating officer, Richard D.
Holley, "There was significant competition among some very aggressive vendors
but we selected BISYS for a number of reasons. Our unique business
requirements are challenging and difficult to grasp, but BISYS has the
in-house intellectual capacity to fully understand them. BISYS also offers
the high-demand banking products and services, the technological capability,
and the integration expertise we need in our industry niche, and its
technology infrastructure is very manageable. Rather than just a vendor, we
also need a business partner that can help us integrate our overall business,
product offering, and support model across all of our delivery channels and we
believe BISYS is that partner. BISYS' team has been extremely responsive and
has found practical resolutions for every issue that has come up. BISYS is
clearly demonstrating its capacity and ability to do what we need."
Bill Neville, president of BISYS Information Services, reported, "Our
fundamental strategy is to support the vision of banks like Exante with the
high-demand financial products and services, the technology, and the expertise
they need to prosper in their target markets. BISYS is uniquely positioned to
help launch this de novo organization in the healthcare space, and to
proactively support its unique business plan and growth in its largely
untapped industry segment. We are excited about this opportunity and
anticipate great things from our relationship with this innovative bank. We
are proud to welcome Exante Bank as a noteworthy addition to our client
roster."
About BISYS Banking Solutions
BISYS provides one of the most comprehensive information processing
solutions, integrating core banking applications with approximately 70 best-
of-breed ancillary products. BISYS' enterprise-wide automation supports
commercial, retail, and mortgage banking; electronic and Internet-based
transactions; branch automation; customer relationship management; data
warehousing; and executive decision-support. BISYS continually enhances the
functionality of its banking solution, which supports approximately 300 banks,
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 20,000 domestic and international financial institutions and corporate
clients through three business units. Its Investment Services group provides
administration and distribution services for approximately 380 clients,
representing more than 2,200 mutual funds, hedge funds, private equity funds,
and other alternative investment products with more than $650 billion in
assets. BISYS' largest group also provides retirement services to more than
15,000 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, annuity, long-term care, and disability products. BISYS is also the
nation's third largest independent wholesaler of commercial lines of
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 225 certification and
continuing education training courses, and a sophisticated suite of products
and services that automates the entire licensing process. BISYS' Information
Services group provides information processing and imaging solutions to more
than 1,150 financial institutions. This group also supports more than
120 insurance companies with a suite of asset retention solutions, and
provides complete program management for corporate-sponsored cash management
accounts. 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 Company's operations, markets, services and related
products, prices and other factors discussed in the Company'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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