HNC Software and Open Solutions Inc. Form
Strategic Marketing Alliance
ACTION ITEMS
HNC Software Inc., a leading provider of predictive software solutions to large banks and other financial institutions, has formed a strategic alliance with Open Solutions Inc. (OSI) to enhance the product offerings that both companies extend to their markets. HNC also made a minority equity investment in OSI, a leading developer of client/server core data processing solutions for community banks and credit unions.
The companies' first joint project will be the integration of HNC Financial Solutions' Falcon Cheque checking account fraud detection software with OSI's product suite. Falcon Cheque is designed to run in a bank's check processing center. Using a powerful, neural network-based fraud model, Falcon Cheque can address in-stream, off-line batch, and real-time processing paths and uncovers fraud on deposited checks, as well as on checks written on accounts at that bank.
Douglas Anderson, OSI Chairman and CEO, said, "OSI continues to bring superior services to the mid-size financial institutions. Our alliance with HNC supports this goal, separating us from our competitors, and enabling OSI to offer HNC predictive technology integrated with OSI solutions. Also, as a result of the alliance, we expect our client base to broaden, as the larger financial institutions become exposed to OSI's technology."
"OSI's client/server technology for mid-size banks provides a great platform for enabling HNC's predictive solutions in a broader market," said Michael A. Thiemann, HNC Financial Solutions President. "This alliance has great potential for providing substantial benefits to the financial industry."
About OSI
OSI, a Glastonbury, Conn.-based provider of banking systems, offers The Complete Banking Solution (TCBS) and The Complete Credit Union Solution (TCCUS), which support all of a financial institution's core data processing requirements. The company was founded in 1992 by experts in data modeling, software development and design. OSI offers The Complete Banking Solution (TCBS), a WindowsNT-based retail banking system embracing client/server technology and Oracle database technology. TCBS supports deposit and loan account processing, customer information, reporting, back office and federal regulatory compliance requirements. OSI also offers The Complete Credit Union Solution (TCCUS) for credit unions. For more information on OSI, The Complete Banking Solution or The Complete Credit Union Solution contact Michael Nicastro at (860) 652-3158, via fax at (860) 652-3156, or email mnicastro@opensolutions.com. Visit OSI's Internet site at http://www.opensolutions.com.
About HNC Financial Solutions
HNC Software Financial Solutions, a leader in predictive software for the payment card and consumer lending industries, provides a powerful set of proven, business solution modules that address the mission-critical, customer-lifecycle management needs of financial institutions. Seamless integration of the various solutions on the same decision platform allows a financial institution or financial services firm to manage its customer relationships throughout the customer lifecycle. For more information, contact Patsy Campbell, Director of Marketing, HNC Financial Solutions, 5930 Cornerstone Court West, San Diego, CA 92121, (619) 546-8877.
About HNC Software
Headquartered in San Diego, California, HNC Software Inc. is one of the world's leading providers of Predictive Software Solutions for service industries, including financial, retail, insurance, Internet, and telecommunications. HNC's suite of Predictive Software Solutions can provide real-time insight into customer relationships based on transaction-level data, helping business-to-consumer companies manage their relationships with individual customers. By accurately predicting customer behaviors, these companies can create initiatives to mitigate risk and attrition; improve customer service; develop marketing programs to enhance profitability; optimize store replenishment activities, and detect fraudulent customer transactions. For more information, visit HNC's web site at http://www.hnc.com or contact Jane Leonard, HNC Software Inc., 5930 Cornerstone Court West, San Diego, CA 92121, (619) 799-3880. For the investor relations hotline, call (800) 396-8052.