Solution to Provide a Scalable Data Platform Across the Enterprise for Group Companies HACKENSACK, New Jersey and BAARN, The Netherlands, September 3
HACKENSACK, New Jersey and BAARN, The Netherlands, September 3
/PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC), a global
provider of information technology services and solutions, today announced
that KBC Group NV, an international financial group with headquarters in
Brussels, has selected the Ness Financial Data Enterprise(TM) solution as its
consolidated data management platform in a large multi-year agreement.
Through a combination of Ness' proprietary software and services, Ness
Technologies will provide KBC Group with an end-to-end data management
solution ensuring that the data-driving processes such as performance
attributions, risk analysis, pricing, research, fund accounting and customer
servicing is clean, complete and consistent across KBC group companies.
"We are always looking for ways to serve our customers better and we
chose to work with Ness because their offering is robust, comprehensive, and
has a proven track record," said Eli De Mil, General Manager ICT, and Geert
Fransen, Procurement Officer Market Data Services, KBC Group added, "The Ness
solution will bring tremendous benefits - allowing us to work more
effectively within a multi-source environment to better manage reference
data. We see this as a scalable platform that can grow along with our future
needs and dovetail with plans to centralize data across group companies."
Sudhakar Kondisetty, Chief Business Officer of Ness' Financial Services
vertical said, "We are delighted that KBC has chosen Ness as its data
management partner for the future. After years of working with capital
markets and retail banking clients on system integration and application
development, we've turned our insight on business process and the intricacies
of data management into a solution that consolidates data sources and
improves data quality and dynamic intelligence for end users. We look forward
to helping KBC Group companies around the world optimize data quality for the
benefit of their customers."
"KBC Group is a valued client, and we are very pleased to expand our
existing relationship with such a prestigious firm," said Sachi Gerlitz, Ness
President and CEO. "This contract exemplifies our growing strength in Europe,
where the demand for our unique services and products just continues to
increase. We remain committed to further penetrating this important market,
with a particular focus on the financial services, utilities and public
sector verticals."
The Ness Technologies Financial Services vertical offers specialized and
proprietary solutions for institutions focused on Banking, Capital Markets,
and Investment Management. Proprietary software includes the Ness Financial
Data Enterprise solution, which automates the acquisition, management and
distribution of reference data and accelerates provisioning of higher quality
and dynamic intelligence to end users. Ness provides consulting, system
integration, core systems, data management and knowledge process operations
outsourcing services with onsite and local presence in North America, Europe,
Israel and Asia Pacific - complemented by Global Delivery Model capabilities
via centers across India and Eastern Europe. Clients include Credit Suisse,
Deutsche Bank, Erste Bank, Franklin Templeton, Invesco, Standard & Poor's,
UBS and others.
Ness Financial Data Enterprise is a cost-effective and flexible solution
that allows financial institutions to take control of their enterprise data
by automating end-to-end acquisition, management and distribution of
reference data. Ness' data management platform acts as a transformation and
enrichment hub consolidating disparate data sources through an intelligent
and dynamic metadata layer in order to deliver higher value data to end
users, systems and value-chain participants.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC) is a global provider of end-to-end IT
services and solutions designed to help clients improve competitiveness and
efficiency. The Ness portfolio of solutions and services consists of software
product development, including both offshore and near-shore outsourcing,
system integration, application development and consulting, and software
distribution. With over 7,800 employees, Ness maintains operations in 18
countries, and partners with numerous software and hardware vendors
worldwide. For more information about Ness Technologies, visit
http://www.ness.com.
About KBC Group
KBC's headquarters are located in Brussels (Belgium), the heart of
Europe. The KBC group is present in more than 30 countries worldwide, employs
57,000 staff (nearly 32,000 of whom in Central and Eastern Europe) and caters
to 12 million customers (some 8 million in Central and Eastern Europe). KBC
Group NV is listed on EURONEXT Brussels and the Luxembourg Stock Exchange
(ticker symbol 'KBC').
KBC is a multi-channel bancassurer with a geographic focus on Europe,
catering mainly for retail and private banking customers and small and
medium-sized enterprises. Besides focusing on providing retail and private
bancassurance services (via bank branches, insurance agents/brokers and the
Internet), KBC is active in asset management and in the field of corporate
banking, leasing, factoring, re-insurance, insurance, brokerage, private
equity, project and trade finance in Belgium, Central and Eastern Europe and
elsewhere (mainly in Europe). It also has an extensive private banking
network in eight Western European countries. Moreover, KBC is active in the
European debt capital markets, has a solid position in the domestic cash
equity markets and is a prominent niche player in a number of global
derivatives markets. For more information about KBC Group visit
http://www.kbc.com.
Forward Looking Statement
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements often are preceded by words such as "believes," "expects," "may,"
"anticipates," "plans," "intends," "assumes," "will" or similar expressions.
Forward-looking statements reflect management's current expectations, as of
the date of this press release, and involve certain risks and uncertainties.
Ness' actual results could differ materially from those anticipated in these
forward looking statements as a result of various factors. Some of the
factors that could cause future results to materially differ from the recent
results or those projected in forward-looking statements include the "Risk
Factors" described in Ness' Annual Report of Form 10-K filed with the
Securities and Exchange Commission on March 17, 2008. Ness is under no
obligation to, and expressly disclaims any obligation to, update or alter its
forward-looking statements, whether as a result of such changes, new
information, subsequent events or otherwise.
Ness Technologies media contacts:
David Kanaan
USA: +1-888-244-4919
Intl: +972-3-540-8188
Email: media.int@ness.com
Ness Technologies investor contact:
Drew Wright
USA: +1-201-488-3262
Email: investor@ness.com
SOURCE Ness Technologies Inc
