SYNERGETIC SERVICES AND SANDSTONE TECHNOLOGY SIGN KEY AGREEMENT

Technology Company Synergetic Services Limited is pleased to announce that the Company has signed a teaming agreement with Sandstone Technology Pty Limited a leading provider of loan origination, valuation management and internet and mobile banking solutions to financial institutions globally. This agreement effectively means that Synergetic and Sandstone, by allowing their systems to seamlessly talk to each other, can collaboratively enable customers at the point of sale (such as market-sites), to electronically submit applications to financial institutions and receive a response in real time. Sandstone’s customers are blue-chip financial institutions including ANZ, Westpac, Bank of Queensland, Adelaide Bank, Suncorp, ING, Credit Union Australia, IMB, Newcastle Permanent Building Society, Cumberland Building Society, Arab Bank and Rabobank.

The ‘Synergy’ system developed by Synergetic empowers customers to obtain pre-approval for finance in a single internet session, without the need to physically visit a lender and with 24/7 access. This innovative loan origination system is seeking to revolutionise the lending market, by implementing a more efficient, user friendly application process that provides customers with real time application responses over the internet and importantly, fully supports compliance with the new National Consumer Credit Protection (NCCP) Act.

According to Chairman of Synergetic Services, Andrew Meakin,

“By collaborating on linking their systems, Synergetic and Sandstone will enable Sandstone’s lender client base to have seamless access to ‘Synergy’ and the wealth of opportunities it provides, including internet access to point of sales markets in a NCCP compliant environment. Loan applications initiated in ‘Synergy’ are seamlessly transferred to Sandstone’s system for fast tracking through to settlement in the lenders back office. Both systems operate in a real time environment for rapid and robust processing.”

Additionally, Synergetic is establishing arrangements with dealer and motor vehicle market sites to enable consumers buying vehicles on their sites to complete a loan application online in real time, be identified, credit checked and receive a fully decisioned offer and genuine price from a panel of lenders. No other technology in the world can provide consumers with this choice in real time today. These relationships form a platform for the roll out of the technology across a range of Australian and international point of sale market-sites.

In commenting on the agreement, Martyn Beer, General Manager Lending Solutions for Sandstone said,

“Increasingly, more loans are being initiated via the internet, as financial institutions look to offer their customers the most efficient pathway to a Lending Solution. Given Synergetic’s front end capabilities and our own back end loan origination and processing innovations, we are extremely excited by the opportunities that the Teaming Agreement with Synergetic presents.”

For more information on Synergetic Services please visit the Company website, www.synserv.com.au or the ASSOB website, www.assob.com.au/syn

For more information on Sandstone Technology, please visit the company website at www.sandstone.com.au

For further information please contact:

ABOUT SYNERGETIC SERVICES LIMITED

Synergetic is a technology company offering innovative solutions focused on new markets and product delivery in the financial services sector, transforming and modernising the way business can be done.

Synergetic has developed the self-service ‘Synergy’ loan origination system. The system uses sophisticated identity checking, credit assessment and dynamic verification, granting customers conditional online loan pre-approval, arming customers with choice and fast tracking the lending process all in the comfort of your own home. Synergetic Services has listed with the Australian Small Scale Offerings Board (ASSOB) to revolutionise the future of online finance with the development of the Company’s flagship product, the self-service ‘Synergy’ loan origination system.

ABOUT SANDSTONE TECHNOLOGY PTY LIMITED

Sandstone Technology is a leading provider of loan origination, valuation management and internet and mobile banking solutions to financial institutions globally. Sandstone’s customers are blue-chip financial institutions including ANZ, Westpac, Bank of Queensland, Adelaide Bank, Suncorp, ING, Credit Union Australia, IMB, Newcastle Permanent Building Society, Cumberland Building Society, Arab Bank and Rabobank.

Sandstone’s core products are front-end internet banking and lending systems providing fast, secure and reliable processing of new business applications and customer service requests.