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Jacksonville, FL -- (April 5, 2005) -- Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services ("Fidelity") division today announced that California-based IndyMac Bank® F.S.B., a subsidiary of IndyMac Bancorp Inc., has signed a multi-year renewal with Fidelity's Integrated Financial Solutions division for information technology outsourcing services. IndyMac Bank provides FDIC-insured deposit products and services directly to consumers through its Southern California branch network, and nationwide via the Internet and through its call center. The scope of the agreement includes Fidelity's MISER core processing system together with multiple integrated components from the MISER solutions suite including MISER Business Intelligence, online collections and safe deposit box services. A Fidelity client since 2000, IndyMac Bank will use the MISER suite to support its continued growth objectives, with the potential for incorporating more of Fidelity's value-added products into its banking franchise.
"With loan volumes increasing and branch expansion accelerating, our focus remains clearly on our customers," stated Jill Barnes, executive vice president of IndyMac Bank. "Fidelity's suite of solutions is a key component of the infrastructure we have built to maintain this focus and deliver the products and services our customers need to meet their financial objectives."
IndyMac Bank is the largest savings and loan headquartered in Los Angeles County and the 10th largest thrift in the nation, based on assets. Since becoming a depository in July 2000, IndyMac has grown its deposit base from the original $350 million to over $5.7 billion at December 31, 2004. One of IndyMac's strategic initiatives is to expand its Southern California branch network. The bank began the year with 13 branches and has already added four more; with plans to have approximately 25 branches open by year-end.
The MISER suite of solutions offers extensive automation and tightly integrated core banking functionality and delivers mission-critical high volume processing with demonstrated reliability and efficiency. Open, scalable and flexible, MISER is designed to meet both the current and foreseeable needs of financial institutions such as IndyMac, providing a smooth and seamless transition between different operating environments--from outsource to in-house and in-house to outsource--as business requirements change.
"Our commitment to delivering truly open and integrated solutions that support the way financial institutions want to serve their customers is one of the fundamental reasons that many select MISER as their core processing platform," Anthony Jabbour, executive vice president of Fidelity's Integrated Financial Solutions division. "And our ability to help IndyMac Bank translate these solutions into value for both the institution and its customers is one of the fundamental reasons they're broadening their relationship with us. As a result, IndyMac can continue to leverage our broad base of expertise and the flexibility of our technology to quickly and confidently capitalize on the growth opportunities before them--while capitalizing on their industry-wide reputation for delivering customer service excellence."
About Fidelity National Financial
Fidelity National Financial, Inc., number 262 on the Fortune 500, is a provider of products and outsourced services and solutions to financial institutions and the real estate industry. FNF is the nation's largest title insurance company, with nearly 32 percent national market share, and is also a provider of other specialty insurance products, including flood insurance, homeowners insurance and home warranty insurance. Through its subsidiary Fidelity National Information Services, Inc. ("FIS"), the Company is a leading provider of technology solutions, processing services and information services to the financial services and real estate industries. FIS' software processes nearly 50 percent of all U. S. residential mortgages, it has processing and technology relationships with 45 of the top 50 U.S. banks and more than 2,800 small and mid-sized U.S. financial institutions and it has clients in more than 50 countries who rely on its processing and outsourcing products and services. FIS also provides customized business process outsourcing related to aspects of the origination and management of mortgage loans to national lenders and servicers. FIS offers information services, including property data and real estate-related services that are used by lenders, mortgage investors and real estate professionals to complete residential real estate transactions throughout the U.S. More information about the FNF family of companies can be found at www.fnf.com and www.fidelityinfoservices.com.
This press release contains statements related to future events and expectations and, as such, constitutes forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be different from those expressed or implied above. The Company expressly disclaims any duty to update or revise forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, the effect of governmental regulations, the economy, competition and other risks detailed from time to time in the "Management's Discussion and Analysis" section of the Company's Form 10-K and other reports and filings with the Securities and Exchange Commission.
SOURCE: Fidelity National Financial, Inc.
CONTACTS: Daniel Kennedy Murphy, Senior Vice President, Finance and Investor Relations, 904-854-8120, dkmurphy@fnf.com, or Dennis Holland, Fidelity Integrated Financial Solutions, 972-943-2685, dennis.holland@fnf.com.
