Emergis’ electronic mortgage solution now available in Ontario
Montréal, December 13, 2007 — Emergis Inc. (TSX:
EME) today announced its Assyst Real Estate electronic solution for completing
residential mortgage transactions is now available in Ontario—Canada’s
largest real estate market with more than 4,500 real estate lawyers.
“Building on our tremendous success in Quebec, we are pleased with our
progress in encouraging B.C.’s and now Ontario’s legal community
to adopt our electronic mortgage solution,” said Keith Nugara, Senior
Vice-President, Financial Services at Emergis. “Real estate professionals
realize the value of migrating from a paper-intensive to an automated mortgage
process that contributes to increasing their productivity.”
The Emergis Assyst Real Estate solution is a bilingual, web-based application
that links legal professionals and lenders electronically to facilitate instructing,
registering, reporting and completing mortgage loans. Assyst Real Estate speeds
up the processing of mortgage transactions, reduces paperwork, cuts costs and
lowers the risk of clerical error.
Although also offered on a stand-alone basis, the Emergis Assyst Real Estate
solution has been integrated with other vendors’ real estate software,
such as The Conveyancer® from Do Process Software in Ontario. Such integration
with suppliers of documentation preparation software allows Emergis to accelerate
the adoption of Assyst Real Estate in each province as it is launched across
the country in partnership with a major Canadian bank.
Most real estate lawyers in Ontario complete their closing documents using
The Conveyancer® from Do Process. With Assyst Real Estate, participating
lenders deliver pre-populated mortgage instructions directly to the real estate
lawyer’s desktop, who can then complete the mortgage transaction and submit
their final report to the lender online.
As part of its adoption strategy, Emergis also concluded an agreement with the
Canadian Bar Association (CBA) last summer to become its exclusive preferred
supplier of electronic mortgage processing services. The CBA represents some
37,000 lawyers, judges, law teachers, and law students from across Canada. The
Ontario Bar Association (OBA)—the largest provincial branch of the CBA
with 17,000 members—has been actively involved in joint marketing activities
with Emergis to promote further Assyst Real Estate in Ontario.
“We are pleased with Emergis’ commitment to offer our members an
innovative solution designed to meet their needs and help them achieve enhanced
efficiencies in their legal practice,” said Greg Goulin, President of
the OBA.
Assyst Real Estate has been successfully deployed in Quebec where 80% of notaries
use the solution. It is also currently being deployed in British Columbia and
will be rolled out in the other Western provinces early 2008 and in the Atlantic
Provinces by the end of 2008.
For more information about Assyst Real Estate, visit www.emergis.com/RealEstate.
About Emergis
Emergis is an IT leader in Canada that focuses on the health and financial services
sectors. It develops and manages solutions that automate transactions and the
secure exchange of information to increase the process efficiency and quality
of service of its customers. Emergis has expertise in electronic health-related
claims processing, health record systems, pharmacy management solutions, cash
management and loan document processing and registration. In Canada, Emergis
delivers solutions to major insurance companies, top financial institutions,
government agencies, hospitals, large corporations, real estate lawyers and
notaries and 3,100 pharmacies. Its electronic health record solutions are also
delivered in the U.S. and Australia. The Company's shares (TSX: EME) are included
in the S&P/TSX Composite Index.
Certain information in this news release is forward-looking within the meaning
of certain securi¬ties laws and is subject to important risks, uncertainties
and assumptions. The results or events predicted in such forward-looking information
may differ materially from actual results or events. The words “may”,
“could”, “should”, “would” and similar words
and expressions are used to identify forward-looking information. Material factors
which could cause actual results or events to differ materially include, among
others: general economic factors, adverse industry events, the adoption rate
of the Company’s solutions, its ability to deliver development and implementation
projects in a timely manner, the non-renewal of major contracts which expire
in the near term, complexities and timing of signing large customer contracts,
exposure under contract indemnities, defects in software or failures in the
processing of transactions and security and privacy breaches. In making the
forward-looking information contained in this news release, the Company has
assumed that these and other material factors will not result in such forward-looking
information differing materially from actual results or events, and has assumed
the renewal and signing of certain customer contracts and the realization of
certain projects. It has not assumed any significant acquisitions, dispositions
or one-time items. When relying on the Company’s forward-looking information
to make decisions, investors and others should carefully consider the foregoing
factors and other uncertainties and potential events. For additional information
with respect to certain of these and other factors, refer to the risks and uncertainties
section of the Company’s 2006 MD&A and to its 2006 Annual Information
Form (risks and uncertainties) filed with Canadian securities regulators and
available at sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE
EXPECTATIONS OF EMERGIS AS OF DECEMBER 13, 2007 AND, ACCORDINGLY, IS SUBJECT
TO CHANGE AFTER SUCH DATE. HOWEVER, EMERGIS EXPRESSLY DISCLAIMS ANY INTENTION
OR OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING INFORMATION, WHETHER AS
A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED
BY APPLICABLE LAW.