BISYS And InfiniteSpace.com Subsidiary of insci-statements.com Sign Strategic Distribution Partnership For Electronic Statement Delivery Services.Business Editors and High-Tech Writers WESTBOROUGH, Mass.--(BUSINESS WIRE)--July 11, 2000 BISYS(R) (Nasdaq:BSYS) and the InfiniteSpace.com subsidiary of insci-statements.com, Corp. (Nasdaq:INSI INSI Initial Nuclear Safety Inspection ) Tuesday announced the signing of a distribution agreement between the two companies. Under the terms of the agreement, InfiniteSpace.com will provide Internet-based delivery of paperless, online mutual fund statements and other related documents to BISYS Fund Services' clients and their shareholders. The Electronic Statement Presentment presentment: see indictment. (ESP (1) (Enhanced Service Provider) An organization that adds value to basic telephone service by offering such features as call-forwarding, call-detailing and protocol conversion. ) services provided by InfiniteSpace.com will be included as part of BISYS' WebSolutions(TM) suite of Internet-based mutual fund administration and customer service solutions. Additional terms of the agreement were not disclosed. E. Ted Prince, Ph.D., chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of insci-statements.com and InfiniteSpace.com, stated: "The signing of BISYS as a major distribution partner for InfiniteSpace.com is strategically important for our company. Leveraging off BISYS' innovative approach to mutual fund administration services is a vital step in our drive to become a leader in the ESP market." InfiniteSpace.com's ESP services will allow BISYS and its clients to take advantage of recent regulatory rulings allowing mutual fund companies, banks, and other financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. organizations to replace traditional paper-based statements, confirmations, and other related documents with electronically delivered versions. As a result, BISYS' mutual fund clients will be able to reduce the costs associated with creating, printing, assembling, and delivering traditional paper-based statements. Using Internet-based electronic statement delivery and communications will help BISYS' clients to establish more personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. and interactive lines of communication "Lines of Communication" is an episode from the fourth season of the science-fiction television series Babylon 5. Synopsis Franklin and Marcus attempt to persuade the Mars resistance to assist Sheridan in opposing President Clark. with their shareholders, further enhancing the clients' service levels. Bill Tomko, president of BISYS Fund Services, commented: "With the increasing focus on Internet-based solutions, these ESP services are an important addition to our WebSolutions product line. The agreement with InfiniteSpace.com supports our strategic goals to provide our clients with the most comprehensive suite of outsourced mutual fund solutions available, and to maintain our market leadership." About BISYS Fund Services BISYS is the industry's leading third-party administrator of domestic and international mutual funds, operating as a value-added, non-competitive business partner. BISYS is uniquely positioned to perform both the high-level and task-oriented functions inherent in the mutual fund industry through its extensive array of outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. services, marketing expertise, and advanced technological systems. Fundamental to BISYS' success are its flexibility and focus on the specific needs of individual clients, and its strategic focus on asset growth. BISYS' unrivaled array of outsourcing solutions include fund design, administration and accounting, transfer agent and shareholder services, compliance and legal support, strategic and tactical sales support, marketing and distribution programs, and growth-focused pricing and product strategies. BISYS' single-source solution provides a seamless resource that reduces its clients' costs and risks, and eliminates the large investments required to sustain internal infrastructures. About InfiniteSpace.com InfiniteSpace.com is a leading ASP provider of electronic statement/bill presentment services and digital document storage and workflow on the Web. The company's portal services and solutions are designed to help customers become more competitive, streamline business processes, improve customer service and extend their technology platform to drive revenues. InfiniteSpace.com is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of insci-statements.com, a leading provider of packaged software See software package. (ESP+) for Integrated Document Archival and Retrieval (IDARS IDARS Integrated Document Archive and Retrieval System ). For more information about InfiniteSpace.com, visit http://www.infinitespace.com. About insci-statements.com Corp. insci-statements.com is a leading provider of electronic statement/bill presentment services and digital document storage, workflow and electronic commerce solutions through both Internet-based portal services and on-site, enterprise software solutions. The company's portal services and on-site software solutions are designed to help customers become more competitive, streamline business processes, improve customer service and take advantage of new technological developments to drive revenues. insci-statements.com has separated its two principal businesses, both operationally and financially, to establish InfiniteSpace.com as a separate wholly owned subsidiary. For more information about insci-statements.com, visit http://www.insci.com. For additional investor relations Investor relations The process by which the corporation communicates with its investors. information, visit the Allen & Caron Inc. Web site at http://www.allencaron.com. Except for the historical information contained herein, the matters discussed in the news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, services and related products, prices and other factors discussed in the company's periodic filings with the Securities and Exchange Commission. Note to Editors: INSCI is a registered mark and insci-statements.com and InfiniteSpace.com are trademarks of insci-statements.com, Corp. |
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