TSX Venture Exchange Trading Symbol - NIT
35,583,829 shares outstanding
MARKHAM, ON, Aug. 20 /CNW/ - August 20, 2007, Neotel International Inc.
("Neotel") is pleased to report that it's strategic partner MFX, a subsidiary
of Fairfax Financial Holdings Limited, has issued the following press release.
Morristown, New Jersey - August 20, 2007 - MFX, a leading provider of IT
applications, consulting and outsourcing solutions, has developed its
CorporateShield security offering into a full management consultancy service
that will provide top tier corporate decision makers with a complete roadmap
to corporate security, risk management, privacy and compliance. MFX has
partnered with SecureIT, a wholly owned subsidiary Neotel International Inc.,
to leverage SecureIT's experience in developing a business-based approach to
corporate security issues.
As part of the arrangement, Neotel's SignHere biometric signature
software will be incorporated into MFX's web-based processing and claims
software products, WriteNow and ClaimsAssure, which are used across the
insurance industry worldwide. By utilizing the digital signature software,
which captures a statistical diagram of signatures and analyzes over 30
different parameters to ensure authenticity, MFX expects to further increase
the speed of processing and claims cycles for insurers, while adding an extra
"MFX's CorporateShield team is equipped to evaluate physical and
enterprise security risks and implement high-tech security solutions to
mitigate any exposure, while releasing customers' resources to focus on other
core business areas," reports Ross Alexander, Chief Security Officer at MFX.
"Our new management consultant approach leverages SecureIT's experience to
provide clients with a complete road map that enables customers to better
manage the risk of digital assets and reputations, while providing a greater
return on their risk and security investment."
According to Ross, many organizations make the mistake of assuming that
data and network security is a technology issue, rather than a business
Says Alexander, "Through misunderstanding and not applying the correct
methodologies, many businesses are either spending too much or too little on
security. Enterprise security is really about people, process and technology -
in that order - and security needs to be viewed as a business process, just
like sales, marketing or manufacturing. It's a day-to-day process and, through
this partnership, we'll be able to ensure that our customers have the right
amount of security, at the right price, mitigating the right amount of risk."
Cam Johnston, Chief Security Officer at SecureIT comments, "SecureIT
combines focused security expertise and methodologies with tremendous big firm
experience that will enable MFX to set a new standard in delivering new risk
management, privacy, compliance and security services. MFX will be able to
deliver its customers with a business-based approach and dialogue to security
issues, so that CEOs and business leaders can make rational, informed
decisions about security - just the way they would about any other part of
their business. Together with SecureIT, MFX will apply methodologies that
enable non-technical, business decision-makers to understand where they are on
a security road-map, and where they need to be, on an on-going basis."
Ray Roy, Chairman & CEO of MFX, adds, "The partnership between MFX and
SecureIT is a compelling combination for corporations looking for a total
business security solution. MFX serves the highly regulated, data-intensive
insurance and financial industries. We continue to invest in the technical
capabilities required by these security conscious sectors."
MFX has locations in New Jersey; Virginia; Texas; Toronto, Canada and
Dublin, Ireland with production environments that include mainframe, midrange
and server platforms. MFX was formed as an independent technology company to
support insurers, reinsurers, risk managers, agents and brokers with proven
eBusiness and other technological solutions designed specifically for the
insurance industry. These are proven products, the result of leveraging our
experience in managing insurance processes on a global basis. It's this depth
of experience in our industry that makes MFX the ideal technology partner for
companies ready to move at the speed of opportunity.
For more information on MFX visit: www.mfxfairfax.com
ABOUT NEOTEL INTERNATIONAL INC.
Neotel is a provider of secure fax, biometric 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
biometric identification solution allows for electronic signature capture that
is uniquely personal and impossible to forge. Neotel, through its subsidiary,
Admiral Secure Products Ltd., is a leading provider of secure fax devices
designed to protect sensitive facsimile communications from inadvertent or
intentional disclosure. Admiral's products are utilized by government
departments and financial service organizations which require maximum security
to protect the transmission of highly private and confidential information.
Additional information about Neotel is available at www.neotel.ca.
For further information:
For further information: Maureen Espin, Neotel International Inc., Tel:
(905) 948-9229 x28