FNF Fidelity National Financial Inc

Fidelity Information Services Expands Image Item Processing Business Outsourcing Market Fuels Client Growth and Demand for New Processing Centers in Portland, Oregon and Orlando, Florida JACKSONVILLE, Fla., Nov. 9 /PRNewswire-FirstCall/ -- 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 announce the expansion of its image item processing business. This expansion includes the opening of its second and third new image item processing centers this year, as well as the signing of several new clients. "Market forces are clearly moving both consumers and businesses from paper checks to electronic payment instruments -- with pure economics becoming an increasingly critical factor in this movement," said Anthony Jabbour, senior vice president of operations for Fidelity's Integrated Financial Solutions division. According to NACHA -- The Electronic Payments Association -- the number of checks processed by the Federal Reserve decreased in 2003 for the fourth consecutive year, this time by 4.7 percent -- more than doubling the 2002 rate of decline. At the same time, NACHA reports that Automated Clearing House(ACH) volume increased by 12.1 percent. Jabbour added, "As this movement continues, we're seeing an increasing number of financial institutions exploring the outsourcing of their item and image processing as a cost- effective and time-saving alternative to in-house business models." First Command Bank of Fort Worth, TX, Maryland-based BankAnnapolis and Delta National Bank, located in Manteca, CA, are among the latest financial institutions to outsource their image-based item processing to Fidelity. Reasons cited for their respective decisions range from improved time-to- market, to proven capabilities, to the cost-effectiveness of the solutions offered by Fidelity. According to Sherry Sitton, First Command Bank's senior vice president of operations, "Not only did Fidelity IFS demonstrate that they could meet our specific interface and output needs, they were also able to commit to our aggressive timeline for conversion. Other important factors in our decision included the company's solid reputation in the marketplace and their experience with similar institutions." First Command Bank -- a nearly $450 million institution dedicated to serving the total financial needs of members of the U.S. Armed Forces -- was seeking an interface to its existing core-processing solution that would give it the ability to deliver imaged checks and statements to customers. Fidelity serves First Command Bank from its Dallas image item processing center. "We found Fidelity IFS to be extremely competitive with regard to their image archive," said Patsy Houck, senior vice president of operations for BankAnnapolis. "Not only is their model cost-effective, access to years' worth of information is instant. We also found them to be ahead of the game with their signature verification capabilities. But most importantly, Fidelity is completely in tune with the needs of a small community bank." Fidelity is providing BankAnnapolis -- a $271 million bank primarily serving small businesses and professional concerns -- with image capture, encoding, cash letter creation and outbound return processing. In addition, Fidelity empowers the bank's customers to electronically access their image archive. The bank is serviced from Fidelity's Baltimore, MD and Sterling, VA image item processing centers. Barbara Jordan, senior vice president of operations for Delta National Bank added, "When you compare the growing cost of processing checks at more than a nickel with the declining cost of ACH payments at just over a penny, the decision is clear. But it goes beyond lowering costs -- we also needed a suite of products that could handle our check and statement imaging and archiving needs. Fidelity offered a solution that enables us to fulfill customer research requests in a fraction of time while also positioning us to prevent fraud." Delta National Bank, a $150 million commercial bank with five branches, signed a 60-month agreement to outsource both their core and item processing to Fidelity. In addition, Fidelity will help Delta National Bank implement image statements. Image-based item processing services for Delta National Bank will be provided by Fidelity's service center in Sacramento, CA. As a result of both the market trends and its growing base of clients, Fidelity has opened two new image-based item processing centers in Portland, OR and Maitland (Orlando), FL. The Portland center is initially serving Northwest Corporate Credit Union while the Orlando-area center is initially handling work for one of the largest community banks in the United States. Both centers offer a full array of check imaging services to financial institutions in their market areas. "The opening of these item processing centers brings our total to 27," said Gary Norcross, president of the Fidelity Integrated Financial Solutions division. "Beyond the rising per-unit cost of checks, we're dedicated to helping our clients prepare for the continued ramifications of Check 21 and image exchange. And by expanding our nationwide network of image-based item processing centers, we can help more financial institutions in more markets operate more efficiently, deliver better service and guard against fraud." 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. The Company had total revenue of more than $7.7 billion and earned more than $860 million in 2003, with cash flow from operations of nearly $1.3 billion for that same period. FNF is a leading provider of information-based technology solutions and processing services to financial institutions and the mortgage and financial services industries through its subsidiary Fidelity Information Services, Inc. Fidelity Information Services' 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 as well as more than 3,200 community-based financial institutions and has clients in more than 50 countries who rely on its processing and outsourcing products and services. Additionally, Fidelity Information Services operates a strategic network of 53 image-enabled item processing centers, placing it among the nation's leading providers of image- based check processing solutions. Fidelity National Financial is the nation's largest title insurance company and also provides other real estate-related services such as escrow, flood and tax certifications with life of loan monitoring, merged credit reporting, property valuations and appraisals, default management, relocation services, flood, homeowners and home warranty insurance, exchange intermediary services, mortgage loan aggregation and fulfillment, multiple listing services software, mortgage loan origination software, collateral scoring analytics and real property data. More information about the FNF family of companies can be found at http://www.fnf.com/ and http://www.fidelityifs.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. DATASOURCE: Fidelity National Financial, Inc. CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and Investor Relations, +1-904-854-8120, or , or Dennis S. Holland, Fidelity Integrated Financial Solutions, +1-972-943-2685, or , both of Fidelity National Financial, Inc. Web site: http://www.fnf.com/ http://www.fidelityifs.com/

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