Phoenix International and IBM Sign Joint Agreement With Sekerbank; Partnership Will Convert 207 Branches Throughout Turkey to Phoenix Banking System.
According to Sekerbank officials, the bank was looking for a tactical solution to resolve the Year 2000 issue, as well as a technology platform to support new products and specialized customer services. Because the Phoenix System is platform independent, Sekerbank was able to select the software technology and functionality it needed to achieve its business objectives, operate within an IBM platform environment, and draw upon IBM's strength as a systems integrator. This combination of factors was pivotal in the bank's decision.
IBM officials concur. "The partnership of IBM and Phoenix International brought a level of confidence that Sekerbank needed in order to make a decision of this impact and magnitude," said Atilla Kayalioglu, IBM Manager of Global Services, Turkey. "IBM's reputation as a global systems integrator will ensure the successful conversion and implementation of all of Sekerbank's branches, including the massive networking infrastructure activities that will be taking place."
The bank's confidence in Phoenix stemmed not only from the product strength, but also from the company's established presence in their region with another large banking client. "Phoenix is able to offer localized support and service. Clearly, both Phoenix and IBM's commitment to this region was a powerful combination that was evident to us," said Suphi Kabadayi, Sekerbank Assistant General Manager.
"We are very pleased to announce this relationship with Sekerbank which represents our first international alliance with IBM and our second significant customer in Turkey," Phoenix International President and Chief Operating Officer Raju Shivdasani said.
"Banks like Sekerbank have a pressing need for the technology that the Phoenix System provides to resolve the Year 2000 issue, but more importantly, they are interested in forming a long-term, committed partnership with a company that understands the unique issues of doing business in their region. Phoenix offers the technology solutions they need today as well as the right ongoing support and service to stay ahead of the competition. Turkey is an important market in the Company's international expansion efforts. We are fortunate to have two significant banking clients in this country fully utilizing our local support capabilities. We will continue to pursue additional opportunities with other financial institutions in this region."
Based in Orlando, Florida, Phoenix International is a world leader in installed client/server banking solutions and services for the financial industry. Clients range from community banks to multi-national and international financial organizations.
The Company provides the Phoenix System, a fully integrated core financial solution that manages the many facets of an institution's retail and wholesale information processing operations in an open-system, client/server environment. Developed to help bankers focus on strategic issues, the system was designed with key management applications as its core, including customer relationship information management, on-line customer profitability analysis, financial reporting, an executive information management system and fully integrated teller, telephone, ATM, and Internet banking modules.
As a full service provider, Phoenix offers clients a full complement of professional and systems integration services including installation, conversion, implementation, training, custom programming, networking solutions, intranet and World Wide Web site development services.
This release contains statements which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or expectations of the Company and its management with respect to, among other things: (i) the anticipated impact of certain events and circumstances; (ii) trends affecting the Company; and (iii) the Company's growth and operating strategy. The words "may," "will," "anticipate," "believe," "intend," "plans," "allows," and similar expressions are intended to identify forward-looking statements. Phoenix's actual results may vary significantly from the results anticipated in these forward-looking statements as a result of various risks, assumptions and certain factors. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are the Company's ability to continue and manage growth; reliance on significant new customers; fluctuations in quarterly results; dependence on new products; competition and other factors that are discussed in detail in Phoenix's filings with the Securities and Exchange Commission, including the "Risk Factors" section in Phoenix's Registration Statement on Form S-1 (Registration No. 333-31415), as declared effective by the Securities and Exchange Commission on August 13,1997.
CONTACT: Phoenix International Ltd. Inc.
Raju Shivdasani, 407/548-5100