InteliData Technologies Corp. announced Monday that its IBM mainframe-based home banking software, the Interpose Financial Engine, will be enhanced to support connectivity to Integrion Financial Network’s Interactive Financial Services platform using the GOLD messaging standard.
With the implementation of GOLD, Interpose will provide seamless legacy system integration to the IFS platform. Ultimately, InteliData will migrate all of its bank customers to the converged Open Financial Exchange (OFX) and GOLD standard due out from the Banking Industry Technology Secretariat (BITS) later this year.
“We are confident that Interpose will provide quick implementation to Integrion’s IFS platform,” said President and CEO of InteliData John Backus. “Our guarantee to banks is that we will have them connected in real time to the Integrion IFS platform in 100 days or less, or we will refund the cost of the software,” he added.
The Interpose software, currently installed in five of the Integrion member banks and in nine of the former Visa InterActive banks which are now part of Integrion, provides a real-time connection between the bank’s IBM mainframe and the IFS platform. The software will run directly on the IBM mainframe, leveraging the performance and reliability of the mainframe as home banking volumes grow. In addition, Interpose provides banks with sophisticated customer profile data, via an internal data warehouse, by tracking customer access to checking, savings, credit and other accounts.
“Integrion has taken a leadership role in developing a platform solution that can handle the increasing performance and reliability demands for Internet banking and other forms of electronic delivery,” said InteliData Chairman Bill Gorog. “We believe that by connecting to Integrion from the Interpose Financial Engine, more banks can capitalize on the tremendous potential of IFS and get to market faster.”
Integrion CEO and Managing Director William M. Fenimore, Jr. commented, “In today’s environment, speed to market is a critical success factor for financial institutions. Integrion is pleased to accelerate the IFS implementation process with InteliData, whose track record for providing real- time connectivity from the mainframe should be a tremendous benefit to our customers.”
“As a strong proponent of open standards in home banking, IBM applauds InteliData’s move to provide GOLD connectivity,” said Paul Loftus, General Manager, Solutions, IBM Global Banking, Finance & Securities Industries. “Leveraging the high-performance IBM mainframe, Interpose helps provide Integrion banks the scalability they need to handle future volume growth. Interpose greatly simplifies connectivity to the bank’s back end systems, helping to achieve quick-to-market, robust, end-to-end solutions.”
Integrion Financial Network is a leading provider of interactive banking and electronic commerce services to financial institutions. Through the Interactive Financial Services (IFS) platform, Integrion offers financial institutions a network through which electronic transactions flow from multiple consumer access points to a bank’s host system and/or processor. Technology partnerships with IBM and CheckFree Corporation allow for the delivery of flexible, high utility applications that can be employed at a financial institution for the benefit of end customers.
Integrion’s operating philosophy allows banks to determine the manner and format in which home banking and electronic commerce services are offered, ensuring consistency with the bank’s full range of services, effective branding by the bank and maximum customer benefit. For more information, visit the Integrion Web site at .
InteliData, with headquarters in Herndon, Va., is a leading supplier of home banking software to financial institutions and financial service providers. The Company’s Interpose Financial Engine is a real-time system with connectivity from bank legacy systems to home banking delivery. Interpose provides a popular home banking connectivity software application that runs on the IBM mainframe, taking advantage of the mainframes’ unlimited scalability to service millions of users 7 days a week, 24 hours a day. For more information, visit the InteliData Web site at .
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995 This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to the Company’s ability to successfully implement its recently announced outsourcing strategy, the effects of a down-sized workforce on its operations, the impact of competitive products, pricing pressure, product demand and market acceptance risks, timing of customer programs, reliance on key strategic alliances, the ability to attract and retain key employees, manufacturing delays, outsourcing partners, the availability of key component parts, availability of cash for growth, product obsolescence, inventory levels and valuations, ability to reduce product costs, fluctuations in operating results, ability to continue funding operating losses, delays in development of highly complex products and other risks detailed from time to time in InteliData filings with the Securities and Exchange Commission. These risks could cause the Company’s actual results for 1998 and beyond to differ materially from those expressed in any forward looking statements made by, or on behalf of, InteliData.Details