SOURCE: Paisley

May 30, 2007 14:25 ET

First Horizon Chooses Paisley GRC on Demand for Governance, Risk and Compliance

MINNEAPOLIS, MN--(Marketwire - May 30, 2007) - Paisley, the leading provider of governance, risk and compliance (GRC) software solutions, today announced that First Horizon National Corporation has chosen GRC on Demand™ to manage its governance, risk and compliance initiatives. Paisley was selected, among other reasons, because of its proven market leadership, vision and ability to deliver.

The 12,000 employees of First Horizon National Corp. provide financial services to individuals and business customers through hundreds of offices located in more than 40 states. The corporation's three major brands -- FTN Financial, First Horizon and First Tennessee -- provide customers with a broad range of products and services.

"GRC on Demand is a comprehensive and easy-to-use solution that includes everything we need to automate and manage our audit processes," said David Hayes, IT Audit Director, First Horizon. "We are confident that Paisley's GRC on Demand will be instrumental in increasing the efficiency of our audit governance initiatives across the organization. We also believe that it has the potential to help us optimize other GRC processes in the future."

"GRC on Demand continues to be recognized in the marketplace as a robust and comprehensive SaaS-based solution," said Tim Welu, CEO of Paisley. "We are encouraged by strong demand from leading organizations like First Horizon that are looking to address their governance, risk and compliance requirements in a holistic way."

Based on a cost-effective SaaS model, GRC on Demand includes purpose-built functionality for financial controls management, audit automation, operational risk management (ORM), enterprise risk management (ERM), IT governance and compliance -- all in a single integrated platform. The product's integrated approach lets businesses easily manage multiple GRC requirements from one platform for greater efficiency and productivity.

About Paisley

Paisley is an industry-leading software vendor that provides solutions for governance, risk and compliance including financial controls management, internal audit, operational risk management, compliance, IT governance and enterprise risk management. For more than a decade, Paisley has delivered superior software and services to both large enterprise and mid-market organizations. Governance, risk and compliance software has always been and continues to be the company's focus.

Leveraging industry best practices, standards-based technology, and a choice of software platforms and deployment options, Paisley customers are empowered to improve the accuracy, consistency and efficiency associated with internal audit, financial controls management, enterprise risk management, operational risk management, IT governance and compliance initiatives. Developed for companies of every size and across multiple industries, Paisley's solutions enable organizations to streamline governance, risk and compliance processes, reduce costs of compliance, manage and mitigate risks, and provide visibility, oversight and assurance.

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