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Fortis Bank Increases Lead Generation Effectiveness With SPSS Analytic Applicatio
Source: www.spss.com
Copyright SPSS, Inc. 2004
08/30/04

This is a dated announcement. The material in this announcement could be superceded by more current announcements.

Bank predicts cross-sell opportunities and attrition risks using PredictiveMarketing™ from SPSS, delivering leads to branch sales account managers

CHICAGO, 08/24/04 — SPSS Inc. (NASDAQ: SPSS), the leading provider of predictive analytics technology and services, today announced that Fortis Bank, the Netherlands-based global financial services provider, has purchased PredictiveMarketing™, an SPSS predictive analytic application based on technology acquired from DataDistilleries. By using this application, Fortis Bank will generate highly qualified leads that will enhance its direct marketing and branch network revenue-generation capabilities.

A key element of Fortis Bank’s customer contact strategy is increasing the effectiveness of every branch office client interaction. Fortis Bank, which ranks among the top European financial institutions, chose PredictiveMarketing as the foundation of its new lead generation and database-marketing environment. With this application, the organization will be able to analyze its marketing database, automatically predict cross-sell opportunities and attrition risks, and provide targeted sales leads to its more than 700 account managers across the bank’s nationwide branch network. By recommending the best action to take for each individual customer, Fortis Bank stands to significantly increase conversion rates and generate additional revenue.

“PredictiveMarketing clearly stands out from the competition and has impressed us with its ability to generate results in a very short time-frame,” commented Peter Heijt, manager database marketing of Fortis Bank. “Its effectiveness in identifying and generating qualified leads will put our marketing department in the driver’s seat and save our branch-based account managers considerable time and effort. This will enable our account managers to spend more time serving and advising our customers - a key part of local retail banking. We’ve already begun to experience the benefits of PredictiveMarketing through increased conversion rates.”

Fortis Bank is one of several major financial services organizations using analytic applications that originated from DataDistilleries, a Netherlands-based provider of predictive analytic applications acquired by SPSS in November 2003.

“Financial institutions like Fortis Bank can generate tremendous additional value from interactions with their customers by better understanding individual customer needs,” said Colin Shearer, vice president, customer analytics at SPSS Inc. “Rather than matching groups of customers to particular products or offers, we provide personalized offers to individual customers for the bank’s financial advisors. This stops inappropriate campaigns from bombarding their best clients. This approach enables Fortis Bank to build even closer customer relationships via its branches. Major potential new sources of revenue are unlocked in the process. We’re delighted to be working with one of Europe’s top banks and look forward to a long and successful relationship."

About Fortis Bank

Fortis Bank is part of Fortis, an integrated financial services provider active in the fields of banking and insurance. With a market capitalization of EUR 23.6 billion (30/06/2004) and around 53,000 employees, Fortis ranks in the top 20 of European financial institutions. In its home market, the Benelux countries, Fortis occupies a leading position which it aims to develop and bolster. Fortis is drawing on the expertise it has acquired in its home market to realize its European ambitions via growth platforms. Fortis also operates successfully worldwide in selected activities. In specific countries in Europe and Asia it effectively exploits its know-how and experience in bancassurance. Fortis is listed on the exchanges of Amsterdam, Brussels and Luxembourg and has a sponsored ADR programme in the United States. More information is available on www.fortis.com.