April 2006

Earnix Opens US Headquarters

NEW YORK, NY – APRIL 11, 2006 – Earnix, the world leader in price optimization solutions for the financial services market, today announced the opening of its US headquarters. The New York City-based office will serve as the center of it operations in North America.

The opening of the office is part of the company’s strategy to build upon its impressive overseas success, as it enters the North American market. The company currently provides price optimization solutions to leading financial services institutions in Europe, Australia, and South Africa.

“We have seen tremendous interest in Earnix’s products in the US market,” said Roy Iscovitsch, Chief Executive Officer of Earnix. Iscovitsch continued, “Increasing profitability and retaining value customers in a fair and equitable manner is a huge issue for insurance companies and banks today. With increased competition, and the need for greater accountability, these financial institutions are looking for the next competitive edge. Earnix’s solutions, which have been so successful in Europe, are uniquely suited to the competitive and regulated US financial services environment. Establishing a US headquarters enables our customers to get local service and support.”

The Company’s US headquarters are located in Rockefeller Center, at 1230 Avenue of the Americas, in Manhattan.

The opening of the US office coincides with the new hire of Gerard Das, Director of Sales and Business Development. Mr. Das was most recently Director of Business Development at Actimize, a leader in operational risk management solutions for the financial services market. Mr. Das has previously held services and sales management roles in several startup companies. Mr. Das will be working out of the US headquarters.

Earnix’s solutions generate significant profit increases for leading financial service providers, improving net interest margins by 10-35 basis points and underwriting profit by 3-5% of gross premium revenue. Earnix lists leading companies such as Zurich Financial Services as satisfied clients. In fact, six of the world’s largest financial services companies are today using Earnix products to improve their bottom line.

About Earnix

Earnix provides an advanced analytics platform designed for the financial services industry, which integrates real-time decision-making capabilities into the business process, delivering significant results.

Earnix’s modeling, algorithms, and Machine Learning capabilities automate the rapid deployment of customer-centric offers by considering variables such as price, product features, and distribution channels, to optimize KPIs such as revenue, profit, sales volume, and customer satisfaction. 

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