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Celent Names Xenos a Significant Player in Banking Document Handling Solutions Spectrum
TORONTO, Ontario, November 22, 2006 - Xenos Group Inc. (TSX: XNS), a leading provider of solutions that capture, transform, transport and present data and electronic documents, has been named a "Significant Player” in the Banking Document Handling Solutions spectrumin a recent report published by Celent, a leading international financial services analyst firm . Celent also recently named Xenos a leading player in Insurance document handling solutions.
Celent’s report, Document Management in Banking: Overview and Solution Spectrum, published November 10 2006 and available directly from Celent, analyzes key issues related to document-intensive business processes in banking. It provides an overview of the technology options available to financial institutions across different areas of document management and classifies 30 vendors.
"The need for managing documents more efficiently is both an enterprise-wide and line of business requirement for banks. Whether driven by the necessity to streamline core processes such as lending or account opening, to improve the quality of customer interactions, or to fulfill compliance mandates across the organization, document management solutions are critical for the optimal functioning of a financial institution,” said Madhavi Mantha, author of the Celent report and senior analyst.
"Celent’s recognition of Xenos is validation of our technology for banking customers to speed mortgage loan origination via straight-through processing and provide customer and financial advisors with online self-service via secure eStatement presentment,” said Graham Barker, Chief Marketing Officer for Xenos. “Legacy systems that are ill-equipped to handle straight-through processing and unstructured documents housed in disparate archives in incompatible formats are among the primary obstacles overcome by deploying Xenos software solutions—without reengineering,” Barker said.
The Xenos product suite is comprised of d2e™, a high volume document stream transform server, implemented with many leading ECM archives (including Oracle, IBM, FileNet, EMC Documentum, CA, Systemware and Mobius among others), infoWEB™, a portal plugin for consolidated view and e-statement presentment of archived information assets and terminalONE™, a data interchange server to enable straight through processing into legacy environments.
Learn more about Xenos solutions on www.xenos.com/solutions
About Celent
Celent is a research and consulting firm focused on the application of information technology in the global financial services industry. Celent's analyst team is organized by financial services industry vertical: Banking, Securities & Investments, as well as Insurance. These analysts produce monthly research reports for members, and are available to members to further explore issues and questions that may arise. Headquartered in Boston, Celent maintains offices in New York, San Francisco, Tokyo, Paris, and London. With its team of internationally experienced and multi-lingual analysts, Celent is able to provide its clients with global perspective. For more information visit www.celent.com
About Xenos
Xenos (TSX: XNS) is a leading global provider of high-performance software solutions suite for real-time information capture, transform, transport and presentment that automate the processing and delivery of data and documents. Xenos solutions enable organizations to reduce costs and increase organizational efficiency, agility and accountability by streamlining and simplifying the transformation and repurposing of data and documents into actionable business information, without reengineering legacy applications.
Xenos solutions are embraced worldwide across a wide variety of industries including financial services, insurance, healthcare, telecommunications, manufacturing, logistics, transportation, retail and government sectors.
Certain statements made in this press release are forward-looking within the meaning of certain securities laws. Such forward-looking statements are based on a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company or developments in the Company’s business or its industry to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. The Company urges you not to place undue reliance on these estimates, opinions and projections. The Company assumes no obligation to update forward-looking statements if assumptions or these plans, estimates, opinions or projections should change.
For more information, www.xenos.com.
Editorial Contacts:
Graham Barker
Xenos Group Inc.
+1 905 763 5103
gbarker@xenos.com
Investor Relations Contact:
Cory Pala
Xenos Group, Inc.
+1-416-657-2400
cpala@xenos.com
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