Verity Provides Comprehensive Intellectual Capital Management Solution for Banco de Mexico
Central Bank of Mexico to Use Verity K2 Enterprise to Organize and Search Information in Structured and Unstructured Content Repositories
SUNNYVALE, Calif - 2003-05-27 - Verity Inc. (NASDAQ: VRTY), a leading provider of enterprise software that helps organizations maximize the return on their intellectual capital investment, today announced Banco de Mexico will make extensive use of Verity® K2 Enterprise (K2E) software in its redesigned public Web site and corporate intranet. Banco de Mexico sets currency policy, provides a range of treasury services and economic and financial counsel to the government, and represents the country in its dealings with the International Monetary Fund.
Banco de Mexico is in the process of revamping and enhancing its portal infrastructure. Early on, the bank recognized a highly versatile and capable search capability would be key to this ambitious project.
"After a one-year study into our bank's business needs and requirements, search was identified as key to the success of our new portal," said Moises Rivero Vazquez, Banco de Mexico's manager of software development. "Customers and bank employees told us that they were not finding information with our previous search engines. As a result, we realized that the new search technology had to deal effectively with both unstructured data, for example, those stored in our FileNet content management system and email, as well as the structured data in our Oracle and Sybase databases."
Before the decision was made to redesign its external and internal sites, Banco de Mexico was using three separate search technologies for its main data repositories. These search technologies had limited functionality and were not linked, forcing time-consuming and usually frustrating sequential searches.
"A careful assessment of vendors, their technologies and willingness to work in partnership to solve our search problems was made," Rivero Vazquez said. "We found Verity K2E can accurately retrieve information from different types of content repositories and felt it would be the best option for the bank."
Moving forward, since only one search technology will be managed and maintained, Banco de Mexico expects the costs associated with its search function to decrease, while user satisfaction is expected to increase dramatically. With Verity K2 Enterprise, it will be easier for people using the Banco de Mexico's Internet and intranet sites to search across multiple types of content repositories and find the desired information more quickly and with greater accuracy.
"Banco de Mexico is a linchpin in Mexico's economy. Its integral role in the country's financial management cannot be overstated," said Anthony J. Bettencourt, Verity's president and CEO. "Verity K2 Enterprise was selected because it solves a complex information discovery and organization challenge that covers the wide range of data in Banco de Mexico's repositories, enabling this global financial institution to maximize the return on its intellectual capital investment."
About Verity
Headquartered in Sunnyvale, Calif., Verity provides software solutions that help organizations maximize the return on their intellectual capital investment by utilizing Verity's industry-leading enterprise search, classification and personalization technologies. Verity software is used for sharing information within and between enterprises; for facilitating e-commerce sales; and for B2B activities on Web-based market exchanges. In addition, Verity technology serves as a core component of many leading e-business applications.
Verity products are used by more than 3,500 organizations in the private and public sectors. Customers include Adobe Systems, AT&T, Bristol-Myers Squibb, Cisco, Cap Gemini Ernst & Young, Documentum, Dow Jones, EDGAR Online, Financial Times, H-P, Home Depot, Lotus, META Group, SAP, Siemens, Sybase, Time New Media and Timex.
This press release contains forward-looking statements relating to Verity and the expected performance of its K2 Enterprise software in the Banco de Mexico's new Internet and intranet sites. Actual results are subject to risks and uncertainties, including the risk that integration of the Verity software will not perform as anticipated as a result of unforeseen technical difficulties. Risks relating to Verity and its products are set forth under the caption "Risk Factors" in Verity's latest Form 10-Q 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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