Bank of Ireland Implements Customer Profitability Solution
Cognos and Fidelity Information Services partner to provide solution to improve customer profitability
BURLINGTON, MA, April 26, 2004 The Bank of Ireland, Retail Division, has partnered with Cognos (NASDAQ:COGN; TSX: CSN), the world leader in corporate performance management solutions, and Cognos' strategic OEM partner, Fidelity Information Services, a division of Fidelity National Financial (NYSE:FNF), to gain increased insight into customer and product profitability. The Bank of Ireland has implemented PMG System's TruPROFIT solution suite, which integrates Cognos Enterprise Business Intelligence Series and Cognos ReportNet. PMG Systems is a division of Fidelity Information Services.
For the Bank of Ireland, understanding customer profitability means aggregating customer data collected across multiple touch points, including deposits, retail loans, mortgages, and credit cards. With PMG's TruCUSTOMERTM and TruANALYTICSTM solutions, components of the TruPROFIT suite, customer account profitability information is created and the account level information is aggregated and pushed out to Bank of Ireland's customer relationship managers, enabling them to segment the customer base and understand and measure growth in their portfolios. In a later phase, this level of detailed information will be used to focus sales and marketing efforts toward their most profitable customer segments.
"Understanding what drives customer profitability is the Holy Grail in retail banking, and implementing the TruPROFIT solution suite brings us much closer to that goal," said Eugene McCarthy, Head of Profitability Measurement in Bank of Ireland's Retail Division. "We now have increased understanding of our customer base, across all product businesses, as well as the ability to provide our customer relationship managers with meaningful, actionable information that impacts their decision-making process. With Cognos and PMG, customer data is much more consumable and therefore, much more strategic to our organization."
"The combined functionality of PMG's profitability applications with Cognos Enterprise Business Intelligence Series delivers a rapid return on investment, enabling our clients to have immediate impact on improving profitability and retention," said Frank McKeon, managing director, PMG Systems, a division of Fidelity Information Services. "TruPROFIT enables customers like the Bank of Ireland to understand the value of their customers and more importantly what the key drivers are influencing customer value, thus enabling them to more effectively establish strategy to enhance this value long term."
"Our strategic OEM partnership with Fidelity National Financial enables us to expand our global reach and help our mutual clients understand and improve customer productivity. Understanding the profitability of products, sales channels and customers and how that relates to overall business performance is key to corporate success," said Leo Tucker, director, banking solutions, Cognos.
About PMG Systems:
PMG Systems, a division of Fidelity Information Services, has been recognized as a premier provider of profitability measurement solutions for the financial services industry throughout the past two decades. PMG Systems supports financial institutions worldwide with an integrated profitability solution that provides the knowledge and tools that has enabled those institutions to better understand and manage their business, their products, and their customers via improved product pricing, customer relationship management, resource utilization, channel management, expense reductions and cost management. With the TruPROFIT suite from PMG Systems, financial institutions can achieve sustained profitability and growth with the only technology and methodology in the industry that provides "the true measure of profitabilityT."
About Fidelity National Financial:
Fidelity National Financial, Inc., number 262 on the Fortune 500, is a provider of products and outsourced services and solutions to financial institutions and the real estate industry. The Company had total revenue of more than $7.7 billion and earned more than $860 million in 2003, with cash flow from operations of nearly $1.3 billion for that same period. FNF is one of the world's largest providers of information-based technology solutions and processing services to financial institutions and the mortgage and financial services industries through its subsidiary Fidelity Information Services, Inc. Fidelity Information Services processes nearly 50 percent of all U. S. residential mortgages, with balances exceeding $2.5 trillion, has processing and technology relationships with 46 of the top 50 U. S. banks and has clients in more than 50 countries who rely on its processing and outsourcing products and services. Additionally, FNF is the nation's largest title insurance company and also provides other real estate-related services such as escrow, flood and tax certifications with life of loan monitoring, merged credit reporting, property valuations and appraisals, default management, relocation services, flood, homeowners and home warranty insurance, exchange intermediary services, mortgage loan aggregation and fulfillment, multiple listing services software, mortgage loan origination software, collateral scoring analytics and real property data. More information about the FNF family of companies can be found at www.fnf.com and
www.fidelityinfoservices.com.

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