COR AG Financial Technologies
COR AG Financial Technologies: COR AG installs COR-PARIS at Düsseldorfer Hypothekenbank – first new outsourcing client among mortgage banks
COR AG Financial Technologies / Contract Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- COR AG installs COR-PARIS at Düsseldorfer Hypothekenbank – first new outsourcing client among mortgage banks (Leinfelden-Echterdingen, 17 December 2008) – After successfully taking over outsourcing operations at Hypo Real Estate and four other mortgage banks on 1 February 2008 (see ad-hoc announcement of 17 October 2007), COR has won its first new client – Düsseldorfer Hypothekenbank AG – for the ASP solution COR-PARIS. This project, which will run over five years with a total volume of just over 5 million Euros, will involve ASP operations with a computer centre partner of COR AG in addition to system development, migration and maintenance. The concurrent operation began on 15 December 2008, although cooperation began before then. COR-PARIS will go fully productive on 1 January 2009. Düsseldorfer Hypothekenbank will be the sixth mortgage bank to install and use the COR-PARIS portfolio management system, confirming the product’s status as one of the leading standard systems in this segment on the German market. This software covers the entire value added chain of a mortgage bank – from client and contract management to sales, financial transactions, reporting and accounts. Moreover, because this system is multilingual, offers multi-client capability and can cope with multiple currencies, it is suitable for use in multinational corporations. By winning this contract COR has vindicated its chosen strategy of extending its own product and service range to the banking sector. This strategy also explains COR’s takeover of Alldata Systems GmbH, which is mostly active in the banking sector, as announced on 20 May this year. About COR COR AG Financial Technologies is one of the leading software and consulting firms for the European financial services industry and its activities are focused mainly on banks and insurance companies. Its service spectrum encompasses specialist and technical consulting services, a broad spectrum of standard software products, and the assumption of IT operations (Application Service Providing). COR has its headquarters in Leinfelden-Echterdingen, near Stuttgart, and employs more than 500 people at locations in Germany, Switzerland and Slovakia. The last financial year was the most successful in the company’s history so far, with sales of EUR 41.3 million and EBT of EUR 4.7 million. For the current financial year, COR estimates sales of EUR 60,0 million and earnings before tax of EUR 6,7 million. Contact COR AG Financial Technologies Corporate Communications Karlsruher Straße 3, 70771 Leinfelden-Echterdingen Tel. +49 711 94958-0 E-mail: info@corag.de Internet: http://www.corag.de 17.12.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: COR AG Financial Technologies Karlsruher Straße 3 70771 Leinfelden-Echterdingen Deutschland Phone: +49(0)711-94958-0 Fax: +49-(0)711-94958-49 E-mail: ir@corag.de Internet: www.corag.de ISIN: DE0005083208 WKN: 508320 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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