Autonomy Cardiff Leads in Support of New NAVA STP Standards Initiative
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Cardiff Offers Industry-First Integrated Solutions to Fully Support Both Electronic and Paper-Based Transactions for Annuities Purchasing
CAMBRIDGE, England and SAN FRANCISCO, June 4/-- Cardiff, a division of Autonomy Corporation plc (LSE: AU. or AU.L) and leading provider of intelligent document solutions, today announced its support of the newly ratified National Association for Variable Annuities' (NAVA) Straight Through Processing (STP) standards initiative.
As a member of NAVA, the standards body for annuities and insured retirement solutions, Cardiff has actively participated in the development of the STP standards. At the forefront of this pervasive industry initiative, Cardiff offers the only integrated solutions available in the market today that can automate both paper and electronic forms and document driven processes. With Cardiff, leading insurance and financial services organizations can automate and accelerate new accounts processing, improve data accuracy and enhance the client experience.
"Cardiff believes that the standards defined by NAVA are crucial to simplifying and improving the complex processes related to annuities and that is why we chose to help lead the effort in technical implementation," said Suresh Ramaswamy, vice president of BPM Strategy for Cardiff. "Although the NAVA standard emphasizes the use of electronic transactions, in practice companies that can concurrently support paper transactions have an edge since regulations mandate that consumers be given the choice to do business on paper. The support of both electronic and paper documents and processes has long been a strong suit of Cardiff's Intelligent Document solutions."
For years, insurers and financial institutions have relied on manual, paper-intensive methods to initiate the application process for new accounts. But ongoing pressures-to cut costs, be compliant with regulations, and retain and attract clients in an increasingly competitive market-are driving a new breed of account opening practices across the industry. Cardiff Intelligent Document solutions enable organizations to automatically capture information from paper and electronic sources and to manage the process behind the form and documents with embedded intelligence. When applied to the eligibility and enrollment processes, the Cardiff solutions automate and accelerate new accounts, improve data accuracy and enhance the client experience. This is critical especially in the financial industry where competition is fierce and clients are more inclined to switch to a more responsive provider if they become frustrated by a cumbersome, inefficient account opening and management process.
"All companies using the NAVA STP standard will go through a period of transitioning processes from paper to electronic," says Mark Seamans, CEO of Cardiff. "Our Intelligent Document solutions are designed specifically to accommodate this transition, providing complete automation of forms, documents and processes in either paper, electronic or even hybrid paper-electronic environments."
The Cardiff Intelligent Document suite automates all aspects of both paper-based and Web-based document-centric business processes.Cardiff delivers significant cost reduction, accelerated processes and an improved customer experience by taking formerly static documents and enabling them to 'process themselves' through the introduction of embedded intelligence. For more information on Cardiff's Intelligent Documents solutions, please visit www.cardiff.com.
About Cardiff
Cardiff (www.cardiff.com) is a leading provider of software for intelligent document solutions that unify people, paper and process. Cardiff enables organizations to capture information from paper and electronic sources and to manage the process behind the form by embedding intelligence and enabling better visibility and control. As a result, businesses reduce operational costs, provide a rich customer experience and ensure compliance to organization and government regulation. Cardiff serves more than 8,000 customers worldwide, including many in the financial services, pharmaceutical, healthcare, education, government and manufacturing industries. Cardiff is an Autonomy Group company (LSE: AU. or AU.L).
About Autonomy
Autonomy Corporation plc (LSE: AU. or AU.L) is a global leader in infrastructure software for the enterprise and is spearheading the meaning-based computing movement. Autonomy's technology forms a conceptual and contextual understanding of any piece of electronic data including unstructured information, be it text, email, voice or video. Autonomy's software powers the full spectrum of mission-critical enterprise applications including information access technology, BI, CRM, KM, call center solutions, rich media management, compliance and litigation solutions and security applications, and is recognized by industry analysts as the clear leader in enterprise search.
Autonomy's customer base comprises more than 16,000 global companies and organizations including: 3, ABN AMRO, AOL, BAE Systems, BBC, Bloomberg, Boeing, Citigroup, Coca Cola, Daimler Chrysler, Deutsche Bank, Ericsson, Ford, GlaxoSmithKline, Kraft Foods, Lloyd TSB, NASA, Nestle, the New York Stock Exchange, Reuters, Shell, T-Mobile, the U.S. Department of Energy, the U.S. Department of Homeland Security and the U.S. Securities and Exchange Commission. Autonomy also has over 300 OEM partners and more than 350 VARs and Integrators, numbering among them leading companies such as BEA, Business Objects, Citrix, EDS, IBM Global Services, Novell, Stellent, Sybase, Symantec, TIBCO and Vignette. The company has offices worldwide.
The Autonomy divisions include: Aungate, specialist in real-time enterprise governance; Virage, a visionary in rich media management and security and surveillance technology; etalk, award-winning provider of enterprise-class contact center products and Cardiff, a leader in content capture and business process management solutions.
Source: Autonomy Corporation plc
Autonomy Cardiff Editorial Contacts:
Winifred Shum
Autonomy (US)
+1-408-542-2363
wshum@autonomy.com
Edward Bridges
Financial Dynamics (UK)
+44-207-831-3113
edward.bridges@fd.com
