Asia PR News

NEW YORK, June 28 /PRNewswire-AsiaNet/ –

Warburg Pincus Provides Significant Equity Funding

Fortent, a company created specifically to deliver a comprehensive suite of
risk and compliance solutions to financial institutions worldwide, was launched
today. Warburg Pincus, the global private equity firm, provided a significant
equity commitment to the new enterprise. In a marketplace characterized by
fragmented offerings from a multitude of suppliers, the new company satisfies
the accelerating demand for a total risk-compliance solution.

Fortent combines Searchspace, a leading anti-money laundering solution,
and Semagix, a pioneering Know Your Customer and Enhanced Due Diligence
product, into a single, powerful brand. This new combination, for the first
time, sets a global standard for risk and compliance services.

In the wake of 9/11 and other terrorist activity around the globe,
regulators have increased the pressure on financial institutions to stem the
flow of money laundering and address the estimated $500 billion to $1 trillion
of "dirty money" slipping through the world’s financial markets each year.
With this stepped up law enforcement and the broad new requirements of the USA
PATRIOT Act and Bank Secrecy Act, financial institutions are in a rapidly
changing, often confusing regulatory environment which exposes them to
reputational, operational, and financial risks, as well as potential criminal
charges.

"The combination of Searchspace and Semagix is an unbeatable one-two punch
in the risk and compliance area, and what is exciting is that this is only the
beginning," said Sandy Jaffee, CEO of Fortent. Ms. Jaffee joined Fortent from
Warburg Pincus where, as Entrepreneur-in-Residence, she was part of the team
that acquired Searchspace and Semagix. Prior to joining Warburg Pincus, she
served as President and CEO of Citibank’s Global Securities Services.

As part of its expanding global footprint in risk and compliance, Fortent
also provides Fraud Management Solutions that identify unusual and suspicious
behavior, targeting risk that directly affects a company’s bottom line. In
addition, this fall Fortent will launch a comprehensive subscription-based
News and Information Service addressing regulatory developments.

Supplementing the industry-leading technology systems of Searchspace and
Semagix, both of which will retain their names as product brands under
Fortent, is a management team recruited from executive positions in the
regulatory area and major financial institutions. "This ‘bankers talking to
bankers’ approach is Fortent’s signature," observed Tony Terracciano, a
leading voice in the banking industry for over three decades and a member of
Fortent’s Board of Directors. "Risk and compliance are major areas of concern
for a CEO, and the fact that Fortent knows how financial institutions and
regulators think makes them invaluable as a business partner and advisor."

"When Warburg Pincus was looking to invest in the risk and compliance
area, we interviewed more than 75 CEOs, regulators, industry advisors, and
consultants around the world," said Mimi Strouse, a Warburg Pincus managing
director and Fortent’s Chairman of the Board. "We consistently heard the need
for a comprehensive solution, and we set out to find the best. After
researching over 180 vendors in the compliance-risk industry to find the
company with the best products, clients, expertise, and reputation among the
world’s leading financial institutions, we found that company in Searchspace,
which became the launch pad of this new enterprise."

In addition to Sandy Jaffee, Mimi Strouse, and Tony Terracciano, other
Fortent board members include Rich Green, Executive Vice President of
Software, Sun Microsystems, Inc.; James Neary, a Warburg Pincus managing
director; and Peter J. Wallison, former White House Counsel and General
Counsel to the U.S. Treasury Department.

Observed Mr. Wallison, "Regulators both here and abroad put the
responsibility for managing risk and compliance strictly at the top of the
organization — the CEO and the Board. This is a C-suite issue, and Fortent is
the company that provides the combination of technology and expertise to
address its strategic importance."

ABOUT FORTENT

Fortent offers financial institutions the security of working with the
leading provider in enterprise-wide risk and compliance solutions. From
ongoing access to its experienced advisors to its intelligent, ABA-endorsed
technology platform, Fortent is redefining the role of comprehensive risk and
compliance solutions in the financial services industry.

Fortent’s clients include Commerce Bank, JP Morgan, Barclays, Chevy Chase
Bank, First Bank of Tennessee, Lloyds TSB, Societe Generale, The Bank of New
York, The Royal Bank of Scotland, UBS, and Washington Mutual. Fortent has
offices in New York, London, Frankfurt, Paris, Sydney, Atlanta, and San
Francisco.

ABOUT SEARCHSPACE

Leading regional, national, and global financial institutions, including
more than half of the world’s top 25 banks, rely on Searchspace anti-money
laundering and fraud solutions. A highly flexible and scalable platform,
Searchspace monitors simple, low-volume product lines to mega-volumes of
transactions to complex financial instruments such as derivatives and swaps.
These sophisticated, 24×7 detection techniques mean that both new and existing
forms of money laundering and fraud can be detected — safeguarding financial
institutions today and tomorrow. The Searchspace anti-money laundering
solution is endorsed by the American Bankers Association.

ABOUT SEMAGIX

The Semagix Know Your Customer solution allows financial institutions to
deploy an adaptable, risk-based approach to identification, verification, and
enhanced due diligence processes to comply with legislative regulations,
including Sections 312 and 326 of the USA PATRIOT Act and other directives.
The fully customizable solution can adapt to changing requirements in the
compliance environment, allowing an organization’s investment in a system to
grow with its changing needs.

ABOUT WARBURG PINCUS

Warburg Pincus has been a leading private equity investor since 1971.
Throughout its 40-year history in private equity, Warburg Pincus has invested
at all stages of a company’s life cycle, from founding start-ups and providing
growth capital to leading restructurings, recapitalizations, and buy-outs. The
firm currently has approximately $13 billion under management and invests in a
range of sectors including information and communication technology, financial
services, healthcare, LBOs and special situations, media and business
services, energy, and real estate. Warburg Pincus has raised 11 private equity
investment funds which have invested more than $23 billion in approximately
540 companies in 30 countries. Currently the firm is investing from an $8
billion fund which closed in August 2005. An experienced partner to
entrepreneurs seeking to create and build durable companies with sustainable
value, Warburg Pincus has offices in North America, Europe, and Asia and an
active portfolio of more than 100 companies.

The firm also has a long history as a successful investor in the financial
technology sector, including investments in TradeCard, Wall Street Systems,
and Yodlee. For more information, please visit: http://www.warburgpincus.com.

For more information about Fortent’s solutions, to speak with Sandy Jaffee
or one of Fortent’s other experts, or to access Fortent’s electronic press
kit, please contact Davia Temin or Suzanne Oaks of Temin and Company at
212-588-8788 or news@teminandco.com.

SOURCE: Fortent

CONTACT: Davia Temin or Suzanne Oaks
both of Temin and Company
+1-212-588-8788
news@teminandco.com
for Fortent

Web site: http://www.fortent.com