Abbey Banks on Open Text

UK Financial Giant Consolidates Information Systems

UK, April 8, 2005 - Open TextT Corporation (NASDAQ: OTEX, TSX: OTC), the world's largest provider of Enterprise Content Management (ECM) software, today announced that it has moved 100,000 pages of financial giant Abbey's technical manuals online in just three months to enable easier access to customer data.

Abbey's 25,000 employees now have instant access to its "Bookstore" via the company's intranet. The Bookstore is a database of product policies and procedures that are critical not only to the day-to-day running of the company, but also to ensuring regulatory compliance. This is particularly important to Abbey as corporate governance codes specify that it cannot sell financial products, such as mortgages, unless the very latest information about the products is made available to the customer. The migration of the Bookstore's complex paper documents was achieved in three months and also included consolidating eight disparate departmental intranets into one centralised system.

The project was part of Abbey's drive to move from a "hard-copy" culture to an environment where all its product and procedural data is available on a single, web-based consolidated network. The solution utilises Open Text's LiveLink Web Content Management Server to simplify content management and enable in-house content authoring.

The new, fully automated system includes an audit trail facility that allows Abbey staff to access product specifications from up to five years ago.
Staff can instantly check and verify the exact details of a policy or mortgage on the date it was purchased.

Peter Greenfield, Online Channels Manager at Abbey, said: "The key strength of the Open Text content management tool is that it allows staff to manage policy and procedures by recording the lifecycle of every piece of information that is raised on an easy to use and intuitive system."

He added: "We have given the internal Intranet the same look and feel as the Abbey corporate and customer-facing Internet pages - so to the user navigating the system, it is like surfing the Net. Open Text has enabled us to have a single, coherent information system that serves both as a communications tool and real-time reference library, adhering to the necessary regulatory requirements."

John Kirkham, Vice President of International Sales at Open Text, said:
"This project underlines Abbey's status as a leading innovator in hi-tech banking and reputation in setting high IT standards in the financial industry. Thousands of pages of text are now available online, enabling instant updating of mission critical information and giving staff the most positive online experience possible which translates directly to increased customer satisfaction."

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