Old Mutual opts for Oblix

Oblix, the leading provider of identity-based security solutions, and Cornastone, an entrepreneurial South African IT solutions company, announced that Old Mutual plc has chosen Oblix NetPoint to deliver enterprise Web access and identity management capabilities throughout Old Mutual`s worldwide offices in SA, Great Britain, Europe and the US.

Old Mutual is the largest financial services business in SA through its life assurance, asset management, banking and general insurance operations. In the US, the group is one of the top 10 fixed annuity businesses and, while in the UK the focus is on wealth management.

This account adds to Oblix`s rapidly expanding list of customers in the financial services market - including Charles Schwab, CUNA Mutual, Wachovia, Banorte and many others - who already use Oblix NetPoint as their web access and identity management solution.

Old Mutual will deploy Oblix NetPoint to enable its employees, intermediaries and customers to access online services and applications that are hosted by the company throughout its extended enterprise. Highest on Old Mutual`s list of priorities was to enable secure single sign-on across all applications, as well as empower its users to manage their own identity information and reset their own passwords with self-service capabilities.

Old Mutual also needed an automated way of approving additions and changes to user identity information as new branch offices come online. These priorities were necessary due to Old Mutual`s requirement to maintain a scalable e-business network as its user population continues to rapidly expand. Oblix NetPoint was the only solution to provide a comprehensive identity management system, COREid, capable of meeting these requirements, while also helping to lower Old Mutual`s e-business costs.

"Old Mutual was looking for a Web access and enterprise identity management solution that provided both breadth and depth of capabilities, while also being able to easily scale as our business grows," said Richard Laycock, Old Mutual eCommerce technology manager. "We consider our use of Oblix NetPoint as a strategic competitive advantage because it enables us to improve our customer service by offering more information online and dramatically reducing the costs of managing our e-business networks. Oblix had the clear advantage in meeting our requirements."

Gartner estimates that by year-end 2005, 97 million consumers, or 45% of the US adult population, will view bills and accounts electronically. And, 18% of US households now make financial transactions over the Web, up from 4% just two years ago, according to Forrester. Other considerations such as regulatory compliance and security laws, growth in online account management, an increase in wireless devices and access, an increase in partnerships between various types of financial services entities, and anti-money laundering requirements, are all market factors that drive this sector`s need for secure Web access and cost-effective management of digital identities.

Recognising the unique regulatory and competitive environment of financial institutions, Oblix has built functionality into Oblix NetPoint that address this market`s needs.

Specifically:

* Identity Management, COREid. By providing an identity management infrastructure, financial institutions have the ability to manage the digital identities of all constituents -agents, brokers, customers, employees - in a cost-effective, secure and scalable way.

* Single Sign-On. Oblix NetPoint enables online partnerships to market and sell products to wider audiences between banks, investment firms, affinity groups, retailers, aggregators, etc, by providing single sign-on between these sites.

* Self-service. Customers can make changes to their own account information online. Plus, agents, brokers, affiliates and other personnel in branch offices can update their own personal identity information, facilitating more accurate personalisation of data and significantly enhancing security.

* Web services architecture. By including the market`s broadest XML support, Oblix NetPoint enables external connectivity with customers, partners, suppliers and regulators. Plus, back-office system can be integrated into e-business efforts.

"The regulatory environment has fuelled dramatic change in the financial services industry," said Shelley Wilson, vice president of marketing, Oblix. "We are committed to helping financial institutions expand their businesses by providing secure access control and an identity management infrastructure on which their entire e-business can be built. We are pleased to add Old Mutual to our growing list of financial services customers."

Cornastone Services and Oblix consultants are currently implementing Oblix NetPoint across 26 key applications for Old Mutual.