MINDBOX OFFICIALLY DEBUTS; PROVIDING AUTOMATED DECISIONING

Doctors rely on years of first-hand experience in diagnoses, and lawyers rely upon documented court opinions and precedents. Now financial services institutions can make automated judgments with the same degree of understanding and complexity by using sophisticated technology from MindBox Inc, recently launched as an independent company. MindBox is a technology company that helps financial services companies gain a competitive edge by intelligently automating their complex business and decision processes. The company develops and markets artificial intelligence software and consulting solutions that leverage industry and internal best practices to deliver automated decisioning systems designed to optimize customer interactions - over multiple channels such as the Web, phone, in-person, e-mail and kiosks.

MindBox Inc was formed in a leveraged buyout of a former division of Brightware. The company already has 200 customers documenting positive return on their investment in automated decisioning systems built with ART*Enterprise, MindBox's award-winning artificial intelligence development platform. From auto loans to online mortgages to corporate tax services, companies have successfully incorporated MindBox artificial intelligence applications into their business operations and have seen dramatic savings in time, money, and staff resources as a result. Companies are also generating new revenue streams by using MindBox technology to automate cross-selling and up-selling of products and services, thus simultaneously addressing customer needs better with personalized product choices, as well as capturing a larger share-of-wallet.

"Now we are able to offer a wider range of options and custom-tailored solutions to meet the particular needs of a customer, instead of just giving them a simple yes or no answer," said Milt Riseman, Chairman of Upland Mortgage. "We can do that because of the intelligence and sophistication of the mortgage origination and underwriting solution that MindBox helped us develop. Using MindBox technology and consulting services, we have increased our revenue and market share, and most importantly, we have lowered the cost and improved the quality of loans that we can offer to our customers."

"Our technology is helping companies deepen their customer relations, while simultaneously maintaining profits and growing revenue, by automating the process of presenting individually customized products and services to each customer," said Richard Barfus, MindBox CEO and Founder. "We are calling this solution `Customer Relationship Optimization,' and it is the result of both our technology and our award-winning consultants who have domain expertise in designing and developing intelligent applications for financial services."

How Automated Decisioning Technology Works

At the core of MindBox's customer relationship optimization solutions lies ART*Enterprise, an expert system built from two technologies. The first is a rules-based reasoning engine, which makes decisions based on a set of domain- and business-specific rules. The second is a patented case-based reasoning (CBR) engine which captures judgment and experience from a company's best employees and puts that wisdom into a data set of precedents, or cases, against which an automated system can compare a unique situation or decision. The system then makes a complex decision or structures a custom alternative product, even if an exact rule does not apply to the situation. MindBox is the only vendor that is applying CBR, or a hybrid of CBR and rules, to the financial services industry.

Drawing from the knowledge of both the defined rules and database of cases that continue to grow over time, business decisions using MindBox technology become more efficient and consistent as they are automated using the company's best practices and knowledge. And because the system governs all a company's information, multiple client contact channels such as Web, phone, e-mail, and kiosks can all adhere to consistent and controlled decision criteria.

More information about automated decisioning is available in a white paper that can be found at www.mindbox.com/news/whitepaper.doc.

About MindBox Inc

Based in Greenbrae, California, MindBox Inc is a technology company that helps financial services companies gain a competitive edge by intelligently automating their complex business and decision processes. The company develops and markets innovative software and consulting solutions that leverage industry and internal best practices to deliver multi-channel, intelligent solutions designed to optimize client interactions. For more information, please visit MindBox's Web site at www.mindbox.com or call 415-785- 3050, or 877-650-MIND (6463).

Contact MindBox Inc, Barbara Burmaster, 206-285-2021, barbara.burmaster@mindbox.com or Rocket Science Inc, Marie Clark, 415-472- 6490, marie@rocketscience.com.