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Micro Focus |
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FIDELITY INFORMATION SERVICES, INC. SELECTS MICRO FOCUS TO IDENTIFY AND DOCUMENT BUSINESS RULES
-- Micro Focus Revolve® Supports Mortgage Servicing Package (MSP) Re-Architecting Initiative --
ROCKVILLE, Md., June 14, 2004 - Micro Focus International Ltd. (Micro Focus®), today announced that Fidelity Information Services (Fidelity), a division of Fidelity National Financial, has selected Micro Focus Revolve® to analyze its Mortgage Servicing Package (MSP), the industry's leading servicing system, as part of its initiative to re-architect MSP.
Fidelity selected Micro Focus because it is the leading provider of COBOL application development and deployment software for contemporary platforms and architectures and it best served the needs identified by Fidelity. Revolve gives Fidelity deeper insight into MSP by locating, refining and documenting the business rules that are part of the application. Once these rules are identified, further "impact analysis" can be completed to understand the best way to leverage the rules. Revolve accomplishes this by creating a repeatable process defined by customizable features to dramatically reduce the analysis time for developers, thus lowering costs and freeing up resources for new development projects. By developing a thorough understanding of its application portfolio, Fidelity will be taking full advantage of the power of its legacy system to provide unparalleled service to its customers.
"As the leading provider of mortgage servicing solutions, our mission is to provide the best capabilities to our customers, with the lowest risk and cost," said Joseph Nackashi, chief technology officer at Fidelity Information Services, Inc. "Our MSP re-architecture project is a strategic initiative that requires the most robust tools in the industry. Micro Focus Revolve is playing a critical role in helping us identify and document our business processes to ensure that our re-architected systems enhance the quality and efficiency of services we provide to our customers."
According to Phil Murphy, principal analyst with Forrester Research, organizations are embracing Application Portfolio Management because it develops fact-based application metrics to drive intelligent decisions, aligns application strategies to business strategies and increases maintenance productivity by 10 percent to 30 percent (Application Portfolio Management Tools, April 12, 2004).
"Financial services providers are under extreme pressures to provide real-time access to customers with high availability and low risk transaction capability," said Ian Archbell, vice president of product management for Micro Focus. "Micro Focus' solutions are designed to help companies meet this charter. Fidelity joins a number of world-class organizations that are achieving significant savings for their clients by reducing development risk and improving the quality of their applications through our Revolve analysis product."
About Fidelity
Fidelity National Financial, Inc., number 262 on the Fortune 500, is a provider of products and outsourced services and solutions to financial institutions and the real estate industry. The Company had total revenue of more than $7.7 billion and earned more than $860 million in 2003, with cash flow from operations of nearly $1.3 billion for that same period. FNF is one of the world's largest providers of information-based technology solutions and processing services to financial institutions and the mortgage and financial services industries through its subsidiary Fidelity Information Services, Inc. Fidelity Information Services processes nearly 50 percent of all U. S. residential mortgages, with balances exceeding $3 trillion, has processing and technology relationships with 46 of the top 50 U. S. banks and has clients in more than 50 countries who rely on its processing and outsourcing products and services. Additionally, FNF is the nation's largest title insurance company and also provides other real estate-related services such as escrow, flood and tax certifications with life of loan monitoring, merged credit reporting, property valuations and appraisals, default management, relocation services, flood, homeowners and home warranty insurance, exchange intermediary services, mortgage loan aggregation and fulfillment, multiple listing services software, mortgage loan origination software, collateral scoring analytics and real property data. More information about the FNF family of companies can be found at www.fnf.com and www.fidelityinfoservices.com .
About Micro Focus
Micro Focus is the leading provider of legacy application development and deployment software for contemporary platforms. Micro Focus enables organizations to unlock the value of their legacy by reusing their business-critical assets with .NET, Java, XML and Web services, resulting in reduced costs, increased agility and minimal risk. Founded in 1976, Micro Focus is a global company with principal offices in the United Kingdom, United States and Japan. For more information, visit www.microfocus.com.
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Micro Focus and Revolve are registered trademarks of Micro Focus International Ltd. All non-Micro Focus products mentioned in this announcement are property of their respective owners.