Today's news:part 1
724 Solutions arranges deal with Home Account
724 Solutions Inc SVN
Shares issued 35,402,426 Sep 8 close $64.30
Mon 11 Sept 2000 News Release
Mr. Gregg Gumbinger reports
Home Account and 724 Solutions have entered into a deal that will enable
Home Account to add account aggregation functionality to their Canopy
Central full-service, Web-based financial service solution.
Home Account's expanded service is based on LiveClips, 724 Solutions'
enhanced account aggregation offering that enables financial institutions
and financial portals to deliver a personalized Internet experience to
customers. The service is expected to become available to Home Account's
customers in the fourth quarter of 2000, and it is being hosted in 724
Solutions' vault-grade application hosting facility.
"Account aggregation is rapidly becoming a critical element for a
successful on-line financial service offering," said Charles A. White,
president and chief executive officer of Home Account. "Our goal was to
work with an account aggregation service provider that would best fit the
needs of our customers and allow us to create the most compelling solution
on the market. After close evaluation, the LiveClips offering fit this
profile perfectly because it features financial institution-grade security
and the most customizable personal summary tool available in the
marketplace."
Using the LiveClips personal summary tool, Home Account will allow its
customers to provide consumer access to consolidated personal information
such as bank and credit card balances, multiple E-mails, airline frequent
flyer mileage, investment portfolio information and news headlines on a
personal summary page. The solution also includes the following features:
A customizable interface that integrates seamlessly into customers' home
pages.
A Home Account master directory of sites that end-users can access.
One-click log-in to multiple sites and access to more than 1,300 sites.
Financial institution-grade security with the option to integrate an
additional user authentication requirement.
"724 Solutions and Home Account have a shared goal of helping financial
institutions offer meaningful services that make consumers' lives easier,"
said Jean-Noel Lebrun, senior vice-president, 724 Solutions. "There is a
huge value proposition in offering single-view access to all of the
information that means most to your customers -- and with LiveClips, Home
Account can extend that value as part of its Canopy Central solution."
According to Mr. White, the inclusion of 724 Solutions' LiveClips service
significantly extends Canopy Central's scope of functionality, helping to
deliver enhanced service value to Home Account's financial institution
customers and their customer bases.
"LiveClips gives our customers a valuable benefit to offer their
end-users," Mr. White said. "It allows bank customers to aggregate all
on-line accounts in a single location, their bank, which is the ideal
location for this service. Account aggregation significantly increases the
banking convenience our customers currently enjoy with Canopy Central."
In addition to account aggregation and on-line banking, the Canopy Central
financial hub includes brokerage services provided through AmeriVest and
U.S. Clearing, and CarSmart, an on-line auto buying service. Customers can
personalize their home pages to include financial reports, stock quotes and
portfolio tracking, financial calculators, and additional services such as
weather and news.
About Home Account
Home Account, based in Emeryville, Calif., delivers patent protected
Internet banking, financial management and electronic commerce solutions to
financial services organizations and their customers. Its Canopy suite of
on-line banking products also includes borrowing, brokerage, advice and
investing services within its revenue-generating financial centre. The
company also provides Internet-based cash management solutions and
CardSolutions, an innovative program for credit card issuers that enables
Internet account management. Home Account's OFX (open financial exchange)
financial services platform allows access by personal finance management
software packages such as Quicken and Microsoft Money. For additional
information, go to homeaccount.com.
WARNING: The company relies on litigation protection for "forward-looking"
statements.
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