RESTON, Va. and FAIRFAX, Va./May 12, 2003 - Comerica (NYSE: CMA), a leading financial services company, and Mantas, Inc., a leading provider of behavior detection technology for the financial services industry, announced today that Comerica's Technology and Life Sciences Division has provided Mantas with a $4 million revolving line of credit.
"We are pleased to provide this credit facility to Mantas, which has developed behavior detection technology that helps companies deploy a best practices approach to risk management," said Brad Steele, regional manager in Comerica's Technology and Life Sciences Division. "We continue to be focused on developing long-term relationships with companies operating in the technology sector, providing them with flexible financial solutions and a banking partner with unique knowledge about the challenges they face."
Some of the best-known names in the financial services industry are using behavior detection technology developed by Mantas for purposes including broker surveillance, best execution and trading compliance, money laundering, and fraud detection. Early detection of suspect behavior allows companies to mitigate risk, report and prioritize findings, comply with changing requirements, and increase revenue by identifying opportunities to improve customer service.
"Our relationship with Comerica spans a number of years, because its technology team has always been responsive and the bank has the resources to continue to serve our growing financial needs," said Dan Ilisevich, Mantas' CFO. "Today's geopolitical situation has generated high demand for our technology from financial services organizations, which need to upgrade their ability to detect suspect behaviors as a result of increasing compliance mandates."
About Mantas
Mantas' behavior detection technology provides financial services firms with the industry's most comprehensive solution for avoiding risk, exceeding regulatory requirements, and enhancing customer relationships. Mantas meets this challenge by analyzing the behavior of customers, employees, and partners in every transaction, from every angle, across the entire enterprise. Mantas creates transparency by giving companies the ability to truly understand those transactions, increasing their ability to understand both their risks and their opportunities. Mantas customers include such global leaders as Merrill Lynch and the National Association of Securities Dealers. Mantas is headquartered in Fairfax, VA and is a majority-owned subsidiary of Safeguard Scientifics, Inc.
Safeguard Scientifics, Inc. (NYSE: SFE) is an operating company creating long-term value by taking controlling interest in and developing its companies through superior operations and management. Safeguard operates businesses that provide business decision and life science software-based product and service solutions.
For more information, please visit www.mantas.com and www.safeguard.com.
About Comerica's Technology and Life Sciences Division
Comerica's Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts. From 18 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with nearly $56 billion in assets as of March 31, 2003.
Media Contacts:
Stephanie Kendall
The Hastings Group (for Mantas, Inc.)
(703) 276-3254
skendall@hastingsgroup.com
or
Adrienne Moch
Pacifico (for Comerica)
(408) 293-8600 x319
amoch@pacifico.com
or
Keith Turner
Comerica Bank
(408) 556-5111
keith_turner@comerica.com
