Habib Bank Limited selects Admerex’s CWX™ for its Worldwide Collections Operation

16 October 2006

ADMEREX Limited [ASX:ADL], a provider of credit and collections systems, today announced the signing of an agreement with Pakistan’s largest bank, Habib Bank Limited, for the implementation of Admerex’s CWX™ software throughout its 1,480 branch network in Pakistan as well as their overseas operations across the Middle East, Africa, Asia Pacific, Europe, UK and North America.

Habib Bank will install CWX, one of the world’s leading credit and collections software packages, to improve collections and recovery rates while increasing efficiency in the collections department.

The agreement was secured with the assistance of Admerex’s local Pakistan partner National Data Consultant (NDC), who will also be providing local support.
Kim Goodall, CEO, Admerex, said: “We are delighted that a bank of Habib Bank’s calibre has selected CWX to manage its collection and receivables processes worldwide. This will increase CWX’s exposure to all geographical markets, including six countries in Europe.”

Zubina Sadick, EVP & Head Consumer Risk Management, Habib Bank said: “We needed a system with a proven track record of rapid and successful implementations. Secondly, the system we chose would have to integrate readily with our core systems; namely Misys Equation and CTL Card Systems. We selected CWX as no other solution on the market had such a strong reputation on both these counts.”

CWX will bring Habib Bank’s collection activities together across its credit card, mortgages, auto loans and personal loans portfolios. The system will be installed and interfaced with Misys Equation and CTL Card System.

Behram Ahmed, Managing Director, NDC said: “The agreement marks a significant milestone in the region. The market recognises the need for sophisticated collections software to address the huge growth in consumer banking. By providing local support for the Bank’s CWX implementation, we are demonstrating our continued support to the needs of the local market.”

This agreement comes within weeks of Admerex’s recent agreement with the AMRO Bank to implement CWX for that group in India and Pakistan.
Mr Goodall said: “Building relationships with blue chip clients of this stature reinforces our position as a leading software and services provider in the credit and receivables management marketplace.

“The relationship with Habib Bank confirms that our strategy to offer clients solutions at every step of the credit and receivables lifecycle, from client acquisition and credit risk assessment to repayment and delinquency management and recovery is receiving broad market endorsement.”

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