BizFlow Helps Leading Manitoba Credit Union Set Record Growth, Reduce Risk

Vienna, VA - November 07, 2005 - HandySoft® Global Corporation, a leading provider of business process management (BPM) solutions, today announced that Cambrian Credit Union, the largest credit union based in Winnipeg, Canada, is using BizFlow® to manage a variety of loan application and mutual fund trading processes. Cambrian reports that BizFlow, HandySoft's award-winning BPM platform, has helped reduce its loan application process time by as much as 30 percent. BizFlow's process improvements have enabled Cambrian to achieve significant growth while reducing back-office costs, leading to cost savings that the credit union can pass along to its customers in the form of lending rates that average one percent lower than those charged by leading banks.

» Click here to download the Cambrian Credit Union case study

Using BizFlow, Cambrian has built eight processes to automate and streamline complex steps associated with the processing of a variety of loans. The use of BPM technology enables Cambrian to instantly determine the status of any loan application, providing the company with critical control and auditing features that lead to reduced risk and lower application error and loan default rates.

"With so many players in the financial services market, we are constantly looking for ways to provide market-leading value to our members," says Rick Male, Vice-President of Retail Credit at Cambrian Credit Union. "We do this by offering the most competitive rates possible and delivering fast, friendly, hassle-free service. Streamlining our loan and mutual fund processes with BizFlow has enabled us to enhance our service while reducing overall expenses so we can pass the savings on to our members."

BizFlow has enabled Cambrian's branch lenders to process all types of loans, and the automated workflow moves each loan application from sales to underwriting to audit in an easy-to-use, service-friendly process.

Cambrian also uses BizFlow to improve processes related to the sale of its mutual funds products, such as the automation of referrals. BizFlow now enables Cambrian to take advantage of straight-through processing, building automated processes to streamline mutual fund application and trading activities. Using BizFlow, data is put in at a branch location, and the trader is automatically notified that the trade is coming in. Additionally, all the necessary supporting documentation goes to the trader automatically.

In the future, Cambrian expects to leverage BizFlow's Web services capabilities to further enhance its ability to receive and process loan applications online. Plans are also underway to automate and streamline various administrative processes, including various human resources and IT processes.

"Financial institutions in general and banks and credit unions in particular are well-suited to leverage the efficiencies and effectiveness of process automation with BizFlow," said Mr. Brian Boxman, COO of HandySoft Global. "We are finding that our financial services customers are able to grow their business and improve their service processing and delivery, all while reducing costly errors and risks, by transforming their business processes with BizFlow."

About Cambrian Credit Union
Cambrian is an innovative provider of a broad range of financial services – from mortgages to savings, commercial services to investment services. It has more than 46,000 individual and commercial members served through 11 branches in Winnipeg and Selkirk, Manitoba. Cambrian is one of the fastest growing credit unions in Canada – nearly doubling in size in the last five years – and is recognized as a market leader in providing technological innovation. It currently has nearly $1.1 billion (Cdn) in assets.

About HandySoft Global Corporation
HandySoft® Global Corporation is the premier provider of configurable software solutions that simplify and automate business processes; capture and enforce best practices; improve productivity and quality while reducing costs; integrate information technology; and foster collaboration among employees, customers, and partners.

The foundation for HandySoft's industry and departmental solutions is BizFlow®, the award-winning platform for business process management, automated workflow, and collaboration. BizFlow offers complete capabilities for building and managing automated business processes, including tools for designing and monitoring the processes, presenting and accessing work, integrating existing IT systems, and administering the platform itself. As a global solutions provider, HandySoft Global is headquartered in Vienna, VA, USA, with offices in Sydney, Australia; and London, UK, and with strategic partner representation throughout the world. HandySoft has implemented process management solutions at hundreds of sites worldwide. For more information call +1-703-442-5600, or visit http://www.handysoft.com.

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