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THE DERBYSHIRE INTEGRATES BUSINESS ENVIRONMENT WITH FINEOS INTERNET PORTAL SUITE

Internet portal solutions to help provide greater service and convenience as building society integrates business environment and distribution channels

London, May 15th, 2002 - FINEOS Corporation, a leading provider of enterprise solutions for banking and insurance, has just announced that The Derbyshire will implement the suite of FINEOS internet portals. The Derbyshire is one of the UK's Top 10 building societies and is deploying the FINEOS solution as part of a major project to fully integrate its business environment and distribution channels.

The technically innovative project will see the FINEOS suite of Agent, Branch and Customer self-service portals being used as part of a major project to integrate all of The Derbyshire's core application systems across their full range of distribution channels. These applications will also be seamlessly unified with an upgraded and web-enabled version of their existing enterprise CRM solution, FINEOS Service Centre.

With the integration in place, The Derbyshire's customers, staff and third-party end-users will have the facility to serve themselves and carry out a range of transactions remotely, independently and online. This will help to vastly increase service and convenience levels, while administration costs will be cut by streamlining business-critical processes. The enterprise-wide integration will also ensure that sales,service and administration staff can provide an excellent level of consistent service.

As part of the project, The Derbyshire will also automate many of the time-consuming, error-prone paper processes typically associated with processing their business. Beginning with the Home Loans process, this work will significantly increase their efficiencies and allow faster turnaround times on servicing all parts of the mortgage process, irrespective of the channel through which it is delivered.

Commenting on the project, Mary McSherry, Director of Strategy and Innovation, The Derbyshire, said: "This will position The Derbyshire as a leading innovator within the building society sector. By fully integrating our business environment and distribution channels, we are moving our business forward in a huge way and radically improving the service levels that we can provide."

Michael Kelly, CEO, FINEOS, said: "The FINEOS portal solutions are integral components in The Derbyshire's vision to deliver an integrated, seamless structure for processing their business. By integrating and web-enabling all of their distribution channels, the portals will significantly increase the efficiency of its business operations and, of course, the proportion of customers that The Derbyshire can reach."

By allowing convenient and independent access to information online, internet portal technology is a key tool in enabling mortgage providers and ntermediaries to meet the requirements of the FSA Consultation Paper 98, The Draft Mortgage Sourcebook. This legislation stipulates that consumers must be provided with sufficient information to allow them to better understand the terms and consequent risks associated with a particular mortgage.

Since March 2000, The Derbyshire has been using the FINEOS enterprise CRM and workflow solution throughout its customer service centre. This has enabled staff to access a single, integrated view of the customer and use each contact with customers to achieve three objectives: to reinforce their message of excellent customer care, improve customer satisfaction and identify new sales opportunities where appropriate.