TSX Venture Exchange Trading Symbol - NIT
44,658,829 shares outstanding
MARKHAM, ON, Dec. 10 /CNW/ - Neotel International Inc. ("Neotel")
announces that it has entered into a Joint Venture Agreement with Financial
Matrix Inc. ("FMI") to deliver a revolutionary new solution to the insurance
FMI is a ground breaking provider of productivity solutions designed for
Insurance and Financial Services Producers and Agents and their respective
Producer Group Companies. These solutions accelerate the productivity of both
Agents and Producers to ensure they optimize their potential for ongoing
success. The portfolio of solutions includes; Insurance and Financial Needs
Analysis, sales, productivity, customer relationship management,
corporate/educational networking, e-education systems and sales force
compliance applications. FMI currently delivers these solutions to a number of
major international Insurance and Financial Service distribution companies
which have tens of thousands of individual Producers and Agents.
Neotel's SignHere(TM) solution provides dynamic signature verification of
hand written signatures, enabling "certainty of identity" for electronic
documents and transactions. The processes that SignHere(TM) uses to bind an
individual's identity to their electronic signature and corresponding
transaction have been designed specifically to create "Strong and Persistent
Evidence" that will sustain the scrutiny that would be required in regulatory
and legal proceedings.
By combining these two dynamic technology solutions, FMI and Neotel are
able to improve the speed, accuracy and dependability of the Financial
Producer sales process and integrate it with the underwriting and approval
systems of client Financial Institutions. Rick Lambrick, FMI President & CEO,
said. "The time required to go from sales lead through to underwriting can now
be significantly reduced and more effectively qualified, this means better
quality and faster business. This collaborative advancement will provide
significant competitive advantage and cost savings to our clients. Integrating
SignHere with FMI's solutions will not only accelerate the closing of polices
it will also improve customer service, Producer and client retention while
building stronger over all regulatory compliance."
"FMI has deep knowledge and relationships with the Producer Companies
which power today's insurance industry, said Mark Edwards, President and CEO
of Neotel. "We look forward to building upon the industry leading solutions
that FMI is already supplying to their Partners in this new venture."
FMI will distribute this new technology to its base of customers. The
solution should be ready for release in the first quarter of 2008, and pricing
will be based upon individual transaction models.
FMI has also signed a sales agency agreement enabling it to resell
Admiral Secure Fax product as well as SignHere, outside of the joint venture,
to its customer base.
ABOUT NEOTEL INTERNATIONAL INC.
Neotel is a provider of secure fax, dynamic signature authentication and
other secure solutions to enterprise and government. Neotel offers clients a
portfolio of secure solutions to protect assets, reduce costs, increase
revenues and comply with government and industry regulations. Neotel's dynamic
signature identification solution SignHere allows for electronic signature
capture that is uniquely personal and impossible to forge. Neotel, through its
subsidiary, SecureIT Investigations & Consulting Inc., is a leading provider
of consulting solutions for security, privacy, risk management and compliance
designed to protect and enhance both enterprise and government security and
privacy requirements. Through its subsidiary, Admiral Secure Products Ltd.,
Neotel, is a leading provider of secure fax devices designed to protect
sensitive facsimile communications from inadvertent or intentional disclosure.
Through its subsidiary, Tenth Power Technologies Inc., it designs, develops
and implements innovative and complete information technology solutions. Its
product solutions include; The LANUX(TM) Framework and "Fundamentals(TM).
Additional information about Neotel is available at www.neotel.ca.
ABOUT FINANCIAL MATRIX INC.
Financial Matrix Inc. (FMI) is a Canadian company based in Toronto,
Ontario. FMI is a technology service company which sells and supports
productivity and compliance technology, management and media networks,
education systems and client relationship solutions in concert with
implementation and consulting services to the Financial Services, Insurance
Distribution and Manufacturing industry. The company and its products have
been accepted and adopted as a catalyst for empowering its clients and
partners with the technical assets and execution capabilities required to
facilitate strategic growth.
Additional information about FMI is available at www.usethematrix.com
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Neotel: Maureen Espin, (905) 948-9229 x28;
Financial Matrix Inc: Rick Lambrick, (905) 326-8142