First Horizon National Corporation Deploys Verity Ultraseek on its Public Web Sites and Intranets
Mortgage Company Finds Software-Based Search Engine Easy to Install and Use; Provides Quality Performance
SUNNYVALE, Calif. - 2005-03-22 - Verity Inc., (NASDAQ: VRTY), a leading provider of enterprise software that enables organizations to maximize the return on their intellectual capital investment, today announced that First Horizon National Corporation (NYSE: FHN), one of the nation's 50 largest bank holding companies, is using its powerful, downloadable Verity Ultraseek enterprise search engine across two intranets and heavily-trafficked public Web sites, www.firsthorizon.com and www.firsttennessee.com.
First Horizon National Corporation, a diversified financial services institution offering retail and commercial banking along with business and consumer mortgage products and services, selected Verity Ultraseek after a careful evaluation of the offerings, service orientation and reputation of three enterprise search engine suppliers. The selection process was prompted by the growing frustration in the First Horizon Home Loans® unit with the existing search mechanism, which was not meeting their information retrieval needs.
"First Horizon® originated more than $50 billion loans in 2004," said Christina Martin, Vice President of Internet Marketing. "The search engine on our loan intranet was not keeping pace with our growth and our need for the right information delivered right away."
This change-out at the First Horizon Home Loans intranet was extended to include the intranet and public Web site of sibling company First Tennessee Bank. "The ability of Verity Ultraseek to handle the amount and types of content residing on those sites was found to be outstanding," Martin said. "The downloadable enterprise search engine also offered ample room for data growth."
Ease of use for both site administrators and end-users was a critical selection criterion. "Employees are responding well to the intuitive user interface and performance of Verity Ultraseek," Martin said. "We preferred a downloadable product over a hardware-based appliance. That view was supported by Verity Ultraseek's performance. Installation was easy and operation has been without incident."
"The financial services industry depends heavily on information that is relevant, accurate and readily available," said Anthony J. Bettencourt, Verity's president and chief executive officer. "First Horizon's Web sites provide mission-critical information resources that enable its employees to perform better and help maximize the value of that information, while boosting the institution's ability to deliver high customer satisfaction."
The intranets are used by more than 12,000 First Horizon employees. The bank Web site gets an average of one million unique visits each month. "Verity's reputation as the leader in enterprise search, based on our experience, is well deserved," Martin said.
About First Horizon National Corporation
The 12,000 employees of First Horizon National Corp. (NYSE: FHN) provide financial services to individual and business customers through hundreds of offices located in more than 40 states. The corporation's three major brands -- FTN Financial, First Horizon and First Tennessee - provide customers with a broad range of products and services including:
• Capital markets, with one of the nation's top underwriters of U.S. government agency securities;
• Mortgage banking, with one of the nation's top 20 mortgage originators and top 15 servicers, which earned a top-10 ranking in customer satisfaction from J.D. Power and Associates; and,
• Retail/commercial banking, with the largest market share in Tennessee and one of the highest customer retention rates of any bank in the country.
FHN companies have been recognized as some of the nation's best employers by AARP, Working Mother and Fortune magazines. FHN also was named one of the nation's 100 best corporate citizens by Business Ethics magazine. More information can be found at www.FirstHorizon.com.
About Verity
Headquarter in Sunnyvale, California, Verity provides software that enables organizations to maximize the return on their intellectual capital investment. The company's intellectual capital management (ICM) solutions provide integrated search, classification, recommendation, monitoring and analytics across the real-time flow of enterprise information, along with self-service Q & A. In addition, Verity's business process management and content capture solutions activate information and accelerate its flow from person to person and between systems. Verity technology also serves as a core component of more than 260 applications from leading independent software vendors.
Around the world, more than 11,500 organizations of all sizes and types rely on Verity to manage their intellectual capital. In the private sector, these include ABB, AT&T, AXA, Bristol-Myers Squibb, Capgemini, Capital One, Cisco, Deloitte Consulting, EDGAR Online, Ford, GMAC, Hewlett-Packard, Kaiser Permanente, KPMG, Mayo Foundation, PricewaterhouseCoopers, SAP, UBS and Verizon. In the public sector, customers come from all levels and branches of government, including the U.S. General Services Administration, the U.S. Air Force and Army, the U.S. Department of Defense, including the armed forces units, and the U.S. Departments of Energy and Justice. Independent software vendors that integrate Verity include EMC Documentum, FileNet, Lotus, Oracle, Stellent and TIBCO.
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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