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November 5, 2002
Onyx Software Strengthens Leadership in Financial Services CRM Market
Five of the Top Six Asset Management Firms Use Onyx; Onyx Customers Expand CRM Deployments after Seeing Positive Results
Atlanta - Onyx® Software Corp. (Nasdaq: ONXS), worldwide leader in successful CRM, has achieved a leadership position in the financial services CRM market, based on the company's ability to deliver CRM success. Onyx financial services customers are able to realize positive return on investment attributable in large part to Onyx customer relationship management (CRM) software.
Onyx has increased its presence among financial services organizations to the point it is now a leading full-suite CRM vendor in this market. Onyx counts among its customers five of the top six asset management firms in the world. In fact, more than thirty percent of the world's 50 largest asset management firms as ranked by Pensions & Investments Magazine are Onyx customers.
In the third quarter of 2002, several financial services companies expanded their deployments of Onyx Enterprise CRM. Dreyfus Corporation, a subsidiary of Mellon Financial, has gone live with Onyx on the retail brokerage side of its business. Dreyfus had already successfully used Onyx on the institutional side of its business to manage a network of more than 20,000 brokers. Other add-on business included American Express; FSC Securities, a subsidiary of AIG; and Piper Jaffrey, a subsidiary of US Bancorp and Fisher Investments.
State Street Corporation has selected Onyx as its worldwide standard after successfully using Onyx Enterprise CRM in its State Street Global Advisors (SSGA) division. SSGA is ranked as the biggest institutional asset management firm in the world. Onyx has also recently added PIMCO, the number one asset manager in fixed income bonds, to its customer roster.
In addition to its success with capital markets firms, Onyx continues to grow its leadership in other financial services sectors, including banking and insurance. Onyx grew its banking customer base by more than 100 percent in the last 12 months.
Onyx counts among its banking customers some of the largest financial services CRM deployments in the world. For example, Australian banking and insurance giant Suncorp has deployed 5,000 seats of Onyx.
"Suncorp's CRM deployment is impressive, not solely in terms of the size of its CRM deployment, but in the breadth of their approach across banking and insurance to create a truly enterprise approach to customer- centricity that has been elusive for many financial services organizations in the industry today," said Gartner Research Director Kimberly Collins. New Zealand's full-service bank and financial services company ASB Bank Ltd. has successfully deployed 3,500 seats. ASB Bank has been rated as the leader in terms of customer satisfaction for the fifth consecutive year by the University of Auckland's banking survey. The Onyx Banking Solution continues to gain traction in North America with the addition of Riggs Bank, one of the top 150 banks in North America. This comes with the continued success of Onyx partner Metavante, which has more than 10 regional banking customers that have purchased Onyx Software. And in the insurance sector, Onyx continues to gain momentum as its customers reap the benefits of using Onyx Enterprise CRM. In the second quarter of 2002, SAFECO Insurance led the industry in growing annuity sales through banks with more than 300 percent growth using Onyx, according to American Banker magazine. SAFECO uses Onyx to more effectively manage its extensive network of independent agents. About Onyx SoftwareOnyx Software Corp. (Nasdaq: ONXS), worldwide leader in successful CRM, offers a fast, cost-effective, usable solution that shares critical information among employees, customers and partners through three role-specific, Web services-based portals. The Onyx approach delivers real-world success by aligning CRM technology with business objectives, strategies and processes. Companies rely on Onyx across multiple departments to create a superior customer experience and a profitable bottom line. Onyx serves customers worldwide in a variety of industries, including financial services, healthcare, high technology and the public sector. Customers include Agile Software Corp., Credit Suisse, Delta Dental Plans of California and Pennsylvania, Dreyfus Corp., Fluke Networks, Inc., Ingenix Health Intelligence, The Regence Group, The Seattle Mariners and Suncorp. More information can be found at 888-ASK-ONYX or info@onyx.com.
This press release contains forward-looking statements including statements about Onyx’s leadership position in the financial services vertical and the ability of Onyx customers to achieve positive returns on their investment. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. The words “believe,” “expect,” “intend,” “anticipate,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Factors that could affect Onyx’s actual results include, but are not limited to the adoption of Onyx products in financial services institutions, the successful deployment of Onyx products by its customers and the “Important Factors That May Affect Our Business, Our Results of Operations and Our Stock Price” described in our annual report on form 10-Q for the period ended June 30, 2002. Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only as to the date of this release. Onyx undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
| Contact: | Bob Craig Onyx Software 617-314-6846 |
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