MALVERN, Pa., June 5, 2003 ¾ Sanchez Computer Associates Inc. (Nasdaq: SCAI) today announced that ING Direct UK, the newest retail bank unit of ING Group N.V., is the most recent ING Direct bank to launch its direct savings business on the Sanchez Profile(tm) real-time transaction processing solution. In addition to the United Kingdom, ING Direct banks in Canada, Spain, France, Italy, and the United States have deployed Sanchez Profile for core processing.
"The successful launch of ING Direct UK marks the sixth ING Direct bank powered by the Sanchez Profile integrated banking platform," said Frank Sanchez, chief executive officer, Sanchez. "Profile provides ING Direct UK with flexible product manufacturing and distribution capabilities to accommodate accelerating market and product changes such as interest rates and terms; a customer-centric database; and the industry's highest volume transaction processing infrastructure, that can scale to meet rapid growth requirements."
ING Direct UK, headquartered in Reading, England, went live with Sanchez Profile in May, unveiling the ING Direct Savings Account. The launch continues to build the global success of ING Direct, which has to date attracted more than six million customers worldwide. Introducing a high-rate, no-fees, no-minimum savings account as an entry product, ING Direct business units complement the ING Direct savings account by cross-selling a focused range of other financial products, once the ING Direct bank reaches a minimum customer base.
"Sanchez Profile is scalable and customer-centric-the perfect complement for our business model, as demonstrated by its five previous installations," said Wijnand de Kruijff, deputy head of Information Technology, ING Direct. "Many financial institutions still maintain separate customer records for individual banking products in separate technology systems. In contrast, ING Direct is 100 percent customer focused, so logically our technology infrastructure must support our requirement to see a consolidated view of our full relationship with each customer. Sanchez Profile enables us to accomplish this goal, without the cost and complexity associated with maintaining multiple back-end systems."
About ING Direct
With over six million customers worldwide and 300,000 new customers joining every month, ING Direct is the world's leading direct savings bank. Established in 1997, ING Direct is part of the ING Group, a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in 60 countries.
About Sanchez
Sanchez Computer Associates Inc. (Nasdaq: SCAI) is a global leader in developing and marketing scalable and integrated software and services that provide banking, brokerage, customer integration, wealth management and outsourcing solutions to almost 400 financial institutions in 22 countries. For more information, visit http://www.sanchez.com.
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Sanchez Computer Associates, Inc.
40 Valley Stream Parkway
Malvern, PA 19355 USA
More information:
Sanchez Computer Associates Inc.:
Karen Tulis
Public Relations Manager
Tel: 1-610-578-4623
Fax: 1-610-296-7371
karen.tulis@sanchez.com
Greg Ryan
Investor Relations Officer
Tel: 1-610-578-4252
Fax: 1-610-296-7371
greg.ryan@sanchez.com
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Monogram Communication Strategies (MCS) B.V.
Mirjam Jonker
Tel: 023 562 82 08
mirjamj@monogram.nl
This news release may contain forward-looking statements about Sanchez and may include, without limitation, statements concerning Sanchez's expectations that may impact the company's performance. When used in this news release, the words "anticipate," "estimate," "expect," "intend," "plan," "project" and variations of these words and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties. Actual outcomes could differ materially from those expressed in any such forward-looking statement due to a variety of factors including those identified in the company's Form 10-K for 2002, which was filed with the SEC on March 31, 2003, and other Sanchez filings with the Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statements. Sanchez and Sanchez Profile are trademarks of Sanchez Computer Associates Inc. All other company and product names may be trademarks of their respective organizations.