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Data Management Innovation a Focus at NY CIO Forum Event

HAUPPAUGE, NY, May 10, 2006 – Long Island-based CorrectNet, Inc. is telling top financial executives how they can harness their firms’ data assets for process automation, internal decision-making, and serving customers during the 9th Annual CIO Forum for Financial Services. The event, hosted by veteran London-based organizer Richmond Events, is being held aboard a large chartered cruise ship that sails today from New York Harbor and returns May 13. The unique ship-based venue exposes an elite, by-invitation-only group of four hundred C-level financial services executives to new ideas and solutions from leading technology vendors.

Commenting on what he is sharing with these top executives, CorrectNet SVP Jim Rich remarked: “Data warehouses and other expensive software components designed for transaction processing and structured OLAP research are not ultimate panaceas. Their strengths lie in analytic processes and they are poorly suited for providing a fast and flexible means of solving a CIO’s ‘last mile’ dilemma: assembling refined information from disparate data sources and delivering it to those who need it.”

CorrectNet SVP Jim Mancuso elaborated further on this topic. “We’re advising them about a better, faster, and more efficient approach to many of their data issues. Let data warehouses and BI tools handle the analytic tasks they’re designed for, while CorrectNet’s XML-based data management platform performs the job of combining analytic outputs with data sources at the corporate, line-of-business, and customer level. Customized applications further refine the data content before distilled, actionable information is delivered through a client’s choice of secure Web portals and services, PDF documents, enterprise process integrations, and other options.”

“As we detail CorrectNet’s experience in quickly implementing solutions at leading financial institutions,” Rich concludes, “these executives begin to imagine how easy, full access to their valuable data assets could translate into better business agility, new services, and new business.”