Financial institution deploys MindBox's ARTOptimize technology for automated loan cross-selling

Top lender leads trend toward automatically assembling loan packages incorporating products sourced across several departments and partners

Greenbrae, CA, June 21, 2004 - Faced with sophisticated customers who expect their bank to be a trusted one-stop shop for a variety of lending needs ranging from mortgages to college savings plans, one of the Nation's largest financial institutions has deployed ARTOptimize software from MindBox™ LLC, the worldwide leader in technology for automating complex business and decision processes, to automate the cross-selling of loan products. Industry analysts say cross-selling is an important new trend in lending.

MindBox's customer, a top-10 mortgage lender, is using the ARTOptimize component of the ARTEnterprise Product Family to automatically "coach" customers as to what loan products will best serve them, both now and in the future. Prompting customers with dynamically-generated questions that anticipate customer needs, the MindBox software automatically structures loan packages that are tailored to that individual customer - deals that include any loan product or service available across the bank or among its partners - and that weigh the best interests of the customer AND the lending guidelines and policies of the company.

"According to recent research at GartnerG2, financial services companies have turned their attention over the past two years to organic growth," said Susan Landry, Vice President and Research Director for GartnerG2 Financial Services, and co-author a recent CEO survey. "Organic growth includes cross-selling products and services to existing customers in order to further develop core markets, and we expect this trend to continue through 2004."

As financial service products have become increasingly commoditized, it has becomes ever more difficult for providers to differentiate themselves in the market. It is imperative for lenders to structure holistic packages of loan solutions, rather than merely presenting "off the shelf" loan products. Automation technologies that can understand and anticipate borrower needs and then use rules and policies to structure a package that is advantageous for both the customer and the bank are critical to continued profitability in today's competitive lending environment.

For example, if a customer is trying to save money for their child's college education, but also needs access to money for home improvements, the lenders can look at the entire customer portfolio to decide how to respond. An ideal response might include a combination of brokerage and mutual fund accounts for the college savings, plus a mortgage refinance and home equity line to access cash for home improvements. Finally, the lender may want to provide the customer with a deal on a no fee checking account, safety deposit box, etc.

In the above scenario, the lender has cross-sold six different loan products and services to meet the customer's needs - and done it all automatically via their website, call center or branch office.

The top-10 mortgage lender deployed MindBox's cross-sell solution several months ago in their mortgage department, and based upon that success is now considering expanding it across their other lending divisions.

About MindBox, LLC.

Based in Greenbrae, California, MindBox, LLC is a technology company that helps financial services companies gain a competitive edge by intelligently automating their complex business and decision processes. The company develops and markets innovative software and consulting solutions that leverage industry and internal best practices to deliver multi-channel, intelligent solutions designed to optimize client interactions. For more information, please visit MindBox's Web at or call (877) 650-MIND (6463)

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© 2004 MindBox, LLC. All rights reserved. MindBox is a trademark of MindBox, LLC. All other trademarks and company and product names are property of their respective owners.

Marie Clark
Rocket Science, Inc.
(415) 464-8110 x4

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