Rondo: Great wee revenue generator announcement for CIC/CERT via partner and friend 724 Solutions. Just out.
Tom D.
Attention Business/Technology Editors:
Harris Bank and 724 Solutions Launch Real-time Wireless Financial Services in Chicago
First U.S. bank to roll out anywhere, anytime wireless banking and
investment services full-scale
TORONTO, July 18 /CNW/ - Bank of Montreal and 724 Solutions (NASDAQ:
SVNX; TSE: SVN) today announced that Harris Bank, a fully-owned U.S.
subsidiary of Bank of Montreal (NYSE, TSE: BMO) will offer its nearly one
million Chicago-based retail customers the ability to conduct banking and
investment services using Internet-enabled mobile phones. The announcement
makes Chicago-based Harris Bank the first U.S. bank to roll out wireless
banking and investment services to its entire customer base.
Powered by 724 Solutions' Financial Services Platform (FSP), the bank's
service, Harris Wireless, is a complete wireless banking and investment
offering. Beginning today, Harris Bank customers will be able to gain access
to vital banking, investment and information content with just a few simple
key-strokes on Internet-ready mobile phones. Customers who use Harris Wireless
will be able to:
- Bank online
- View account balances and transaction histories
- Transfer funds between Harris accounts
- Request check re-orders
- Request stock and index quotes
- View personal investment portfolios
- Create and receive stock alerts
- Check news, weather and horoscopes
"The Harris Wireless launch is a committed strategic entry into the U.S.
market on the part of Harris Bank and Bank of Montreal," said Mark Dickelman,
Senior Vice President, m-Commerce and Wireless, Harris Bank. "724 Solutions'
technology has enabled us to build a single, true North American platform for
wireless financial services. Now we can deliver secure access to multi-
language banking, brokerage, and content services in both Canada and the U.S."
Using 724 Solutions' platform, Harris Bank introduced Harris Wireless in
March 2000 through a market trial of 125 of its customers. Harris Wireless is
an extension of Veev, Bank of Montreal's popular Canadian wireless banking
service, launched in May of 1999. Since the introduction of the Veev service
last year, Bank of Montreal and 724 Solutions have worked together to extend
the wireless banking platform to one that supports a wide array of banking and
investment services including brokerage and trading across multiple languages,
carriers, banks and brokerages.
"The Harris Wireless launch marks the culmination of our efforts to
extend the truly convenient, secure suite of banking and investment services
already enjoyed by Veev customers in Canada to this U.S. bank's entire
customer base," said Greg Wolfond, Chief Executive Officer of 724 Solutions.
"We are very pleased that not only has our Financial Services Platform enabled
Harris Bank to go from pilot to full-scale launch in under a year, it has also
made it possible for Harris Bank to offer the kind of services that its
customers want."
ABOUT HARRIS BANK
Harris Bank, with $28 billion in assets, is one of the largest community
bank networks in Illinois, a nationally recognized provider of private client
and personal trust services, and a major Midwest mid-market corporate bank.
Harris Bank, is a member of the Bank of Montreal Group of Companies. BMO is
one of the largest financial institutions in North America. Visit
www.harrisbank.com and www.bmo.com for more information.
ABOUT 724 SOLUTIONS
724 Solutions provides an Internet infrastructure solution to financial
institutions that enables them to offer personalised and secure online
banking, brokerage and e-commerce services across a wide range of Internet-
enabled wireless and consumer electronic devices. 724 Solutions' common shares
are listed on the NASDAQ National Market (SVNX) and the TSE (SVN) stock
exchanges. Headquartered in Toronto, Canada, the company has offices in
London, San Francisco, Sydney, and Tokyo. For additional information visit
www.724.com.
This press release contains statements of a forward-looking nature. These
statements are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. You can identify these forward-
looking statements by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar expressions.
The accuracy of these statements may be impacted by a number of business risks
and uncertainties that could cause actual results to differ materially from
those projected or anticipated, including risks related to: the risk that
technologies for the delivery of financial or e-commerce services over the
Internet and wireless networks will not be developed or be attractive to
consumers as anticipated; the risk that 724 Solutions Inc, Bank of Montreal
and Harris Bank will not successfully deploy or operate services based upon
the 724 Solutions Financial Services Platform; and other risks outlined in the
filings of the two companies with the U.S. Securities & Exchange Commission
and of 724 Solutions Inc. with the Canadian Securities Administrators. 724
Solutions, Bank of Montreal and Harris Bank do not undertake any obligation to
update this forward-looking information, except as required under applicable
law.
-0- 07/18/2000
For further information: 724 Solutions Inc.: Ray McManus, Director, Public Relations, (416) 228-8191, rmcmanus@724.com; Stephen Rouse, Maverick PR for 724 Solutions, (416) 640-5525, stephenr@maverickpr.com; Rick Kuwayti, Bank of Montreal, (416) 927-2740, rick.kuwayti@bmo.com
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