AXA Financial Selects Verity's Powerful Information Retrieval Software for Quick Access To Financial Planning Tools and Information
Verity's Advanced Search Solution to Serve AXA Advisors' Customers Around the World
SUNNYVALE, CA. - 2001-09-25 - Verity, Inc. (NASDAQ: VRTY), a leading provider of infrastructure software that powers enterprise and e-commerce portals as well as e-business applications, today announced that AXA Financial has integrated Verity's market-leading information retrieval software into AXAonline.com, an extensive online offering for AXA Financial's professionals and customers.
Through AXAonline.com, AXA Financial's nationwide team of 7,500 financial professionals at AXA Advisors can quickly and easily access client management tools, applications, forms, market updates and an abundance of financial advisory information. In addition, more than 2.5 million U.S. customer households can use the site's features for information regarding financial planning, retirement planning, education funding, estate planning, insurance and annuities, asset gathering, wealth management and asset allocation. Verity's advanced search technology connects employees and customers to various information sources and retrieves query results more quickly and accurately than ever before.
"We want to give our customers the information they need to make wise financial decisions while simultaneously offering our financial professionals a single location to retrieve information they need to do their jobs," said Don Buskard, Senior Vice President and Chief Technology Officer for AXA Financial's AXA Client Solutions subsidiary. "After evaluating other alternatives on the market, Verity was clearly the most flexible and reliable solution. It is a seamless, highly scalable solution that is also easy to use."
AXAonline.com was created with the goal of strengthening the AXA Advisors brand as a comprehensive source for financial advice and a broad range of products and other services. Verity's advanced technology helps AXA Advisors to deliver critical information to customers who manage their accounts or portfolios, search through libraries of resources and take advantage of interactive planning tools.
"We offered AXAonline a customized solution that will grow with AXA Advisors," said Anthony J. Bettencourt, president of Verity. "Our team has developed a software that fosters more informed relationships between AXA's customers and the financial professionals who serve them."
About Verity
Headquartered in Sunnyvale, California, Verity is a leading provider of business portal infrastructure software. Verity software gives businesses a multitude of ways to improve access to vital information and perform a range of e-business operations, while enhancing the end-user experience. Verity-powered business portals, which include corporate portals used for sharing information within an enterprise, e-commerce portals for online selling, and market exchange portals for B2B activities, all provide personalized information to employees, partners, customers and suppliers.
Verity products are used by 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, American Greetings, AT&T, CDNOW, Chapters, Cisco, CNET, Compaq, Dow Jones, Edgar Online, Ernst & Young, Fairmarket, Financial Times, Globe and Mail, Home Depot, Lotus, NewsEdge Corporation, SAP, Siemens, Sybase, Time New Media and Timex. In 2001, Delphi Group named Verity as the market leader in the portal infrastructure software.
About AXA
AXA Financial, Inc., with approximately $483 billion in assets under management as of December 31, 2000, is one of the world's premier financial services organizations through its strong brands: The Equitable Life Assurance Society of the U.S., AXA Advisors, LLC, Alliance Capital Management L.P, Sanford C. Bernstein, and its premier wholesale distribution organization, Equitable Distributors. AXA Financial is a member of the global AXA Group, a worldwide leader in financial protection and wealth management. AXA's operations are diverse geographically, with major operations in Western Europe, North America and the Asia/Pacific region. AXA had $845 billion in assets under management as of December 31, 2000 and reported revenues of approximately $74 billion for the full year 2000 . The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. The AXA American Depositary Share is also listed on the NYSE under the ticker symbol AXA.
AXA Advisors, LLC, is a leading provider of financial services for consumers and businesses, working with clients to help them define and meet their financial goals. Financial products and services available to individuals and small businesses through AXA Advisors include: financial, retirement, and estate planning; asset allocation, annuities; life insurance and mutual funds; general securities, wrap fee mutual fund products and managed money programs.
This press release contains forward-looking statements relating to Verity and the expected performance of its technology. Actual results are subject to risks and uncertainties, including the risk that integration of the Verity's information retrieval software into AXAonline.com will be delayed or not occur, or not perform as anticipated as a result of unforeseen technical difficulties. Risks relating to Verity and its products are set forth in its Form 10-K and other reports filed with the United States Securities and Exchange Commission.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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