UK Financial Services Company Kensington Mortgages Selects MicroStrategy for Business Intelligence
MicroStrategy® Incorporated (NASDAQ: MSTR), a leading worldwide provider of business intelligence software, today announced that London-based Kensington Mortgages has chosen the MicroStrategy Business Intelligence Platform� as its business intelligence standard.
McLean, Va., (November 10, 2003) –
MicroStrategy® Incorporated (NASDAQ: MSTR), a leading worldwide provider of business intelligence software, today announced that London-based Kensington Mortgages has chosen the MicroStrategy Business Intelligence Platform(TM) as its business intelligence standard. Kensington Mortgages is a leading UK specialist mortgage lender. It provides mortgages to borrowers who generally do not conform to the underwriting criteria of traditional suppliers of mortgages in the UK, such as the self-employed, contractors, older borrowers, those who require larger loans and those with an adverse credit history.
“Throughout the selection process, MicroStrategy demonstrated great professionalism and a real grasp of our business requirements,” said Alastair Pate, Director of Marketing & Strategy at Kensington Mortgages. “We undertook a detailed selection process with six major players in the business intelligence arena, and MicroStrategy was best placed to meet our current and likely future demands. Selecting MicroStrategy was a long-term strategic purchase for Kensington.”
Approximately 150 employees across five UK-based underwriting centers, as well as its sales, finance, IT, marketing, human resources, strategy and customer administration departments, will use the MicroStrategy platform to perform near real-time analyses against a SQL Server® data warehouse containing nearly 2,000,000 records, or 100,000 mortgage applications. The MicroStrategy platform will enable Kensington Mortgages to deploy an extranet to potentially 3,000 business partners.
“MicroStrategy is the most intuitive business intelligence product we reviewed and will appeal to our business users across the enterprise,” added Pate. “It provides the same look, feel and functionality for our employees in the office or on the road. MicroStrategy is the only business intelligence solution that provides end users with the same graphical and output quality as Excel®.”
“MicroStrategy is helping companies provide better customer service and identify revenue-generating opportunities,” said MicroStrategy’s COO Sanju K. Bansal. “With MicroStrategy’s user-friendly Web interface and unparalleled scalability, we are seeing an increasing number of companies build business intelligence extranets that extend the benefits of the data warehouse to customers, suppliers and partners.”
About Kensington Group
Kensington Group plc comprises Kensington Mortgages, a leading specialist mortgage lender, and The Mortgage Lender (“TML”) a leading UK direct-to-consumer distributor of specialist mortgages. It provides mortgages to borrowers who generally do not conform to the underwriting criteria of traditional suppliers of mortgages in the UK, such as the self employed, contractors, older borrowers, those who require larger loans and those with an adverse credit history. Kensington Group plc is the only independent lender in its market listed on the London Stock Exchange.
Since its launch in 1995 Kensington Mortgages has helped more than 54,000 borrowers obtain mortgages valued at more than £4.4 billion.
About MicroStrategy Incorporated
Founded in 1989, MicroStrategy is a worldwide leader in the increasingly critical business intelligence software market. Leading Fortune 2000 companies are integrating MicroStrategy’s industrial-strength software into virtually all facets of their businesses. The MicroStrategy Business Intelligence Platform(TM) distills vast amounts of data into vital, probing insight to help drive cost-efficiency, productivity, customer relations and revenue-generation. MicroStrategy offers exceptional capabilities — excellent scalability, powerful analytics, user-friendly query and reporting features and an outstanding, easy-to-use Web interface. Top companies are using MicroStrategy to cost-effectively harness large, multi-terabyte databases; empower thousands of employees at all operational levels; and extend the benefits of business intelligence enterprise-wide and beyond to customers, partners and suppliers.
MicroStrategy has over 2,300 enterprise-class customers, including General Motors, Best Buy, Lowe’s Home Improvement Warehouse, Yahoo!, Visa International, Wells Fargo, Telecom Italia, AT&T Wireless Group and Aventis. MicroStrategy also has relationships with over 500 systems integrators and application development and platform partners, including IBM, PeopleSoft, Sun, and JD Edwards. MicroStrategy is listed on Nasdaq under the symbol MSTR. For more information or to purchase or demo MicroStrategy’s software, visit MicroStrategy’s Web site at www.microstrategy.com.
This press release may include statements that may constitute “forward-looking statements,” including its estimates of future business prospects or financial results and statements containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results of MicroStrategy Incorporated and its subsidiaries (collectively, the “Company”) to differ materially from the forward-looking statements. Factors that could contribute to such differences include: the Company’s ability to secure financing for its current operations and long-term plans on acceptable terms; the ability of the Company to implement and achieve widespread customer acceptance of its MicroStrategy 7i software on a timely basis; the Company’s ability to recognize deferred revenue through delivery of products or satisfactory performance of services; continued acceptance of the Company’s products in the marketplace; the timing of significant orders; delays in the Company’s ability to develop or ship new products; market acceptance of new products; competitive factors; general economic conditions; currency fluctuations; and other risks detailed in the Company’s registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
MicroStrategy is a registered trademark of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.
Marc Brailov
MicroStrategy Incorporated
(703) 770-1670
mbrailov@microstrategy.com
Source: MicroStrategy