Can anyone translate this?
It's a release in which Integrion talks (without saying much) about something called a "Gold Standard." As we all know, all but a few of these Integrion owner banks are already signed up by CKFR for 3- to 5-year contracts. What's the "Gold Standard," and does it pose any competitive threat to CKFR? (CKFR was present at this two-day conference, but isn't among those quoted.)
PHILADELPHIA--(BUSINESS WIRE)--Aug. 4, 1997--
Company Announces Partnering Process for Platform Connectivity
Integrion Financial Network met late last week with leading
technology providers to introduce the partnering process for
connecting to the Interactive Financial Services (IFS) platform via
the Gold Standard for Electronic Financial Services (Gold).
Representatives from over 20 organizations spanning the spectrum
of interactive banking and electronic commerce products and services
gathered in Philadelphia for a two-day forum hosted by Integrion.
Consisting of both formal presentations and interactive panel
discussions, the event is the first in a series of connectivity
forums detailing Integrion's partnership program for technology
vendors interested in leveraging an Integrion relationship.
As explained by Tom Petrick, Integrion Relationship Manager, the
Integrion Gold Standard Partnership process benefits technology
providers in several important ways. First, the process is based
upon an established business model.
The Gold Standard is subscribed to by 16 Integrion owner banks
who are coding to Gold as part of their implementation process.
Secondly, Gold is an open standard, allowing vendors to participate
in the extension of the standard by creating their own self defining
fields and acting in an advisory role to Integrion for future
functionality.
Finally, Integrion has created a clearly defined, cost effective
process for coding to the Gold Standard which allows connectivity to
the Interactive Financial Services platform and joint marketing
efforts to the financial institution industry.
The partnering process consists of a four-step program in which
technology vendors and Integrion work together to:
-- Inform one another about their respective products and
services;
-- Analyze the requirements, objectives and value proposition for
partnership;
-- Develop a joint implementation plan to code to Gold and
connect to the IFS platform;
-- Certify technology vendor as Gold- and Integrion-approved.
Each of the four steps are supported by Integrion through
assigned company contacts, documentation, joint marketing agreements
and access to the Gold Services Center. The Gold Services Center,
which is managed by IBM offers education, joint application design
and development, consulting and testing environments.
According to Integrion Managing Director William Fenimore, the
formalization of the certification and partnering process will enable
technology vendors to adapt and develop products and services
compatible with the IFS platform more rapidly. "There is an
abundance of quality organizations in the electronic commerce arena
whose products meet the needs of our customer banks. Integrion
shares a strong enthusiasm to work together with these organizations
to enhance our respective offerings to the financial institution
industry."
"We support and are implementing the Gold Standard because it
provides us with a common and flexible link to multiple customer
solutions such as our Internet banking product and future versions of
NationsBank Managing Your Money," said Chuck Hieronymi, senior vice
president, PC Channel Strategies and Development for NationsBank.
"Companies who can provide us with Gold-certified products and
services will help NationsBank deliver more electronic solutions to
our customers faster and at lower cost."
"IBM is committed to supporting the Integrion partnering process
by dedicating resources specifically for consulting, education,
training and testing as it relates to the Gold Standard and IFS
platform," said Pete Staley, vice president of IBM Interactive
Financial Services North America. "We look forward to interacting
with a broad range of providers to deliver solutions to the Integrion
banks."
The Gold Forum and Partnership program were well received by the
attendees.
"We are excited about the prospects of working with Integrion and
the Gold Standard," said William A. Soward, director, Financial
Applications Marketing, Edify Corporation. "Our customers are asking
for a solution which combines the powerful capabilities of Edify's
Electronic Banking System with the breadth of services provided by
Integrion."
"Integrion has defined a clear and credible path for partnering
with companies such as our own. The Integrion banks represent an
important market to our organization," noted Stephen Pardue,
executive vice president and managing director of Business
Development for Security First Technologies. "The partnering process
is attractive to the technology community because it delineates a
distinct road map to get where we are going. There are substantial
opportunities to leverage by working together."
"We are extremely excited about the prospects of working with
Integrion and the Gold Standard," said Mike Garvey, product manager,
Financial Service Division, Syntellect Inc. "An Integrion
partnership offers increased opportunities for technology providers
to help banks bring their remote banking strategies to life. Our
objective is to work with Integrion to expand the market for
electronic commerce through these institutions."
"The Integrion banks are an important market for us," said Chuck
Williams, CEO of Brightware. "By partnering with Integrion, we can
ensure that our Brightware sales servers provide maximum value for
the banks, while integrating smoothly with their systems and business
processes. We appreciate Integrion's well-structured partnering
process, which helps us reach these mutually beneficial objectives
quickly."
Integrion plans to hold subsequent Gold Forums for additional
technology providers and financial institutions who are interested in
IFS platform connectivity. The technology companies invited to this
premier forum were selected primarily based upon their relationships
with Integrion banks.
Companies in attendance included Applied Communications, Inc.,
Brightware, Inc., CheckFree Corporation, Destiny Software, Early Cloud
& Company, Edify Corporation, Footprint Software, FICS America,
Harbinger Corporation, Home Financial Network, InteliData
Technologies, MECA Software, Netscape Communications, Oracle Corporation,
Periphonics, Quadravision Communications, Security First Technologies,
Syntellect, Inc., Visa Interactive, and Voice Integrators, Inc.
The Gold Standard for Electronic Financial Services
The Gold Standard for Electronic Financial Services ("Gold") is
the open, cross-platform messaging specification employed by
Integrion Financial Network for consumer and small business banking
transactions within the Interactive Financial Services (IFS)
platform.
Developed by members of the financial services industry, Gold and
its associated programming environment support a wide variety of
consumer access devices including Internet, intranet, personal
financial management (PFM) software and telephone, enabling banks to
offer customers a broad set of options through a standard interface.
Integrion Financial Network
Integrion Financial Network provides interactive banking and
electronic commerce solutions 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.
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.
Integrion creates an unprecedented opportunity for banks to set
industry standards for electronic commerce, to gain economies of
scale and to develop shared market driven applications. The
Interactive Financial Services (IFS) platform was designed and is
operated to bank specifications by the IBM Corp.
Integrion and its participating banks leverage the technical
development resources of IBM in customizing applications, integrating
legacy and front-end operating systems, and providing PC support to
home banking customers.
The owners of Integrion are ABN AMRO North America, Bank One,
Bank of America, Barnett Bank, Comerica, First Bank System, First
Chicago NBD, Fleet Financial, IBM, Key Corp, Mellon Bank, Michigan
National Bank, NationsBank, Norwest, PNC Bank Royal Bank of Canada
and Washington Mutual Inc. Additional information about Integrion
can be found on the Internet at www.integrion.net .
CONTACT:
Integrion Financial Network
by
Al Paul Lefton Co.
Grant Evans, 215/351-4210
grantevans@lefton.com |
