Xenos Group transforms Bear Stearns' millions of pages of monthly statements and trade confirmations
Xenos Group's innovative Documorph™ solution delivers documents to brokers via the Web to improve customer service and communications
TORONTO, ON, June 3, 1999 - Xenos Group, an innovative provider of e-commerce document presentment software and solutions, today announced that it has successfully implemented an innovative large-scale application enabling Bear Stearns' (NYSE: BSC) correspondent brokers to view their clients' millions of statements and other correspondence via the World Wide Web.
Because of Xenos Group's Documorph™ software, which transforms the information and layout on the printed page directly to a Web page, Bear Stearns electronic documents look exactly like the paper-based statements, confirmations and 1099s that its clients now receive. Documorph, the Virtual Internet Printer™, transforms Bear Stearns' millions of pages of monthly statements and trade confirmations from the legacy AFP print stream format to Adobe's Portable Document Format (PDF).
Bear Stearns brokers can now securely access their clients' on-line documents from any standard Web browser. Currently, clients are able to view their statements electronically as part of the Bear Stearns' Client Toolkit. Bear Stearns' initiative to provide this capability on the Web significantly strengthens its correspondents' and their brokers' ability to provide premier customer service.
According to Bear Stearns, "This is the kind of ground-breaking application that uses the Web to redefine how companies do business. Xenos Group's Documorph solution integrates with our four-tier architecture to provide innovative technology enhancing our correspondent brokers' productivity. Xenos Group designed and delivered a solution with our team, which met our high expectation performance requirements for our processing window. Furthermore, our correspondents also use this on-line capability to enhance their relationship with their clients because we are offering them full document fidelity with flexibility, reliability and complete security."
"Documorph is designed for organizations that use the Internet to improve their customer relationships and streamline internal operations," says Stuart J. Butts, chairman and CEO of the Xenos Group. "By choosing Documorph to provide electronic delivery, via the Web, of monthly statements and confirmations to its brokers, Bear Stearns has chosen to stay on the leading edge of customer service excellence by using the unique technology and capabilities Xenos Group offers."
Documorph allows exact duplicates of hard copy documents to be retrieved over the Internet as PDF files, preserving the branded 'look-and-feel' customers are familiar with. In addition, Documorph generates bookmarks for easy navigation of documents. Embedded URLs can also be added to the statements to enable 1-to-1 marketing and e-commerce transactions. Documorph also archives and provides Web access to the statements from multiple output media including magnetic, optical and COLD devices.
Documorph improves customer service because for the first time, brokers will be able to view the exact document on-line that the customer is referencing -- not just database fields on a screen. This means that correspondent brokers will have all the information from the statement to provide immediate response to their clients' questions.
"We are pleased to be an integral part of the Bear Stearns' brokerage document delivery system," says Martin Heenan, Xenos Group president. "Bear Stearns' choice of Xenos Group validates our position as an innovative provider of e-commerce document presentment technology. Xenos Group's Documorph delivered rapid return on investment, dramatic cost savings and enabled superior customer relationships."
About Bear, Stearns
Bear, Stearns & Co. Inc. (www.bearstearns.com), a leading worldwide investment banking and securities trading and brokerage firm, is the major subsidiary of The Bear Stearns Companies Inc. (NYSE: BSC). With approximately $19.3 billion of total capital, Bear Stearns serves governments, corporations, institutions and private investors worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Bear, Stearns & Co. Inc. is headquartered in New York City
About Xenos Group
Xenos Group (www.xenosgroup.com) is an innovative provider of e-commerce document presentment software and solutions. From existing host environments to the Internet, the company has the ability to convert print or data streams into any digital output media on any platform. Large organizations with high volume document requirements use this unique technology to save millions of dollars every year through the electronic reproduction and distribution of branded customer-contact documents such as bills, policies and statements.
Press Contact:
Angela Vanderburg
The Xenos Group Inc.
Ph: (905) 709-1020
www.xenosgroup.com
Email angelav@xenosgroup.com
Press Contact:
Bob Pickard
Environics (Media only)
Ph: (203) 325-8772
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