Know Your Customer is the focal point of the CRM specialist update at the Finance Forum

update and Tata Consultancy Services lecture about success factors in the KYC sector

Vienna, September 24, 2008 +++ update software Switzerland GmbH will focus on the Know Your Customer (KYC) sector at the Finance Forum on November 4-5, 2008 in Zurich. KYC -- know your customer -- means that financial institutions are obliged to record detailed information about potential customers and to check the plausibility of the details. update software Switzerland is a subsidiary of update software AG, one of the leading European producers of CRM solutions, which is headquartered in Vienna. Analogous to its KYC focal point, update will give a lecture at the Finance Forum in Zurich together with its partner Tata Consultancy Services on the topic "Success factors in the KYC sector" (11/05/08, 9:30 AM, "London" Speaker Corner). In the lecture, Georg Schrennen of update and René Nordmeier of Tata Consultancy Services Switzerland Ltd (TCS) will present a new customer value management solution for private banking that integrates the premium CRM solution update.seven with the flexible total banking solution TCS BαNCS Private Banking and thus covers the complete KYC process. update will present the KYC process for the new total solution at its booth at the Finance Forum (Booth 6.09, topic world Software for Banks).

update's KYC focal point at the Finance Forum is also due to the relevance of this topic, precisely for the Swiss finance industry: on the one hand, Swiss regulations such as the EBK money laundering regulation (GwV EBK) or the Swiss Banking Association's duty of care agreement (VSB) have prescribed the KYC principle for a long time already. On the other hand, now more than ever, banks need a 360-degree view of their customers if they want to fulfill the international requirements such as MiFID or the EU anti-money laundering directive and ensure high advising quality. Meanwhile, financial institutions must collect customer data that belongs directly to the business relationship as well as data that extends beyond this. Therefore, in addition to expert advice and sales relevance, the complete documentation of customer contacts, discussion topics, and results are absolutely necessary -- and thus is the use of an efficient tool that can cover the entire process and automate it in a legally-secure manner. This is why, in addition to all KYC information, the total banking solution with customer value management from update and TCS also includes the MiFID requirements including regular profile checks and PEP check.


About update software AG

update software AG ( www.update.com) was founded in Vienna in 1988. With nearly 300 employees and sales of EUR 32.5 million in 2007, it is the leading European supplier of premium CRM solutions. update software AG is listed on the German stock exchange in Frankfurt am Main. Today, update's products are used by more than 1300 companies and more than 150,000 users. update software Switzerland GmbH, headquartered in Zurich, was founded in 1993. update's customers in Switzerland include more than 70 renowned companies such as the Dresdner Bank (Schweiz) AG, Berenberg Bank (Schweiz) AG, Electrolux, Kärcher, Laufen Bathrooms, and Mars. update maintains strategic partnerships with companies such as Atos Origin, Hewlett Packard, Sensix, and Steria Mummert Consulting.

Contact:

update software AG		Möller Horcher Public Relations GmbH
Mag. Birgit Gruber		Gabriele Horcher
Operngasse 17-21		Ludwigstr. 74
A-1040 Wien		D-63067 Offenbach/Main
Tel.: +43 (0)1-87855-125		Tel.: +49 (0)69-809096-52
Fax: +43 (0)1-87855-200		Fax: +49 (0)69-809096-59
birgit.gruber@update.com		gabriele.horcher@moeller-horcher.de
www.update.com		www.moeller-horcher.de