Charlie,
Anything new to report here? Are you still holding? Looks nasty here. Great news and no relief...any comments?
RESS RELEASE:S1 Unit Extends Account Aggregation
19 Sep 11:40
( BW)(GA-VERTICALONE)(SONE) VerticalOne, an S1 Corporation Subsidiary,
Extends Account Aggregation to International Markets
Business Editors/High Tech Writers
ATLANTA--(BUSINESS WIRE)--Sept. 19, 2000--
Proven Track Record Coupled with Experienced Leadership Lands
Australia's Largest Financial Services Provider
VerticalOne, a wholly owned subsidiary of S1 Corporation (Nasdaq: SONE) and
the pioneer of personal account aggregation and transaction services, today
announced plans to extend account aggregation services for financial
institutions worldwide.
The company also announced its first global deployment customer: AMP,
Australia's largest diversified financial services company with more than
US$150 billion assets under management.
"The explosion of account aggregation in the U.S. has precipitated tremendous
interest from international markets," said Gregg Freishtat, CEO of VerticalOne.
"Our goal is to rapidly deploy account aggregation worldwide, while continuing
to provide additional interaction and transactional capabilities. By leveraging
the global resources of S1, our go-to-market global strategy can be executed
upon rapidly."
To meet the growing global demand for account aggregation services,
VerticalOne will focus its expansion initiative on key international markets
over the next year, including Asia, Europe, Latin America, Canada and Japan.
Recently appointed Vice President of International Operations John Casson is
spearheading the expansion and is responsible for developing and implementing
VerticalOne's global strategy. Casson has more than 20 years of experience in
technology and international operations, working for various companies
including Premiere Technologies, GE Capital IT, Cabletron Systems and Digital
Equipment Corporation.
"According to the eGlobal Report (eMarketer, March 2000), the number of
active Internet users worldwide will climb to 361.9 million by the year 2003,"
said Casson. "To capitalize on this growth, VerticalOne has identified those
geographic markets that offer the greatest growth potential and that are the
most technologically advanced."
AMP's launch of the Account Minder service is the first international
deployment of VerticalOne's proprietary account aggregation solution. AMP
customers can view accounts from 24 of the top account providers in Australia.
The free aggregation service is available to consumers today at
amp.com.au .
VerticalOne's move into international markets adds to the company's recent
momentum and closely follows announcements two weeks ago that Yahoo! and Wells
Fargo have aligned with VerticalOne to deliver account aggregation services in
the U.S.
About VerticalOne Corporation
Headquartered in Atlanta, VerticalOne created the account aggregation space
in October 1998 with the vision of offering consumers a greater level of
convenience when accessing their personal account information online through a
multitude of devices including PCs, Internet appliances and wireless devices.
VerticalOne built the information infrastructure that empowers Internet
destination sites to offer their online customers a single point-of-access to a
wide variety of personal content and account information including reward
programs, communications, investments, bank statements, and other bills or
personal accounts. With over 20 sites deployed, VerticalOne continues to lead
the industry in most live sites and greatest consumer adoption with over $3.4
billion in accounts being tracked through the VerticalOne service.
VerticalOne's distributors include AnyDay.com, Centura Bank, CNBC.com,
FreeRealTime.com, GO Network, INTRUST Bank, LifeMinders, OnMoney.com,
SmartMoney, The Motley Fool, VirtualBank, Wells Fargo, and Yahoo!.
VerticalOne's Privacy Statement is certified by both TRUSTesm and BBBOnLine(R),
and the company is certified by Internet Security Systems (ISS) and
VeriSign(TM). VerticalOne is a wholly owned subsidiary of S1 Corporation
(Nasdaq: SONE). More information about VerticalOne can be obtained from the
World Wide Web at verticalone.com or by email to
marketing@verticalone.com.
About S1 Corporation
S1 (Nasdaq: SONE), the pioneer of Internet banking, is one of today's leading
global providers of innovative Internet-based financial services solutions. S1
offers a broad range of applications that empower financial organizations to
increase revenue, strengthen customer relationships and gain competitive
advantage by meeting the evolving needs of their customers across various lines
of business, market segments and delivery channels.
Through its professional services organization, S1's applications can be
implemented in-house or outsourced to the S1 Data Center. Additional
information about S1 is available at s1.com .
Forward-Looking Statements
The matters set forth in this press release, such as statements relating to
the benefits, advantages or other aspects of any of S1's and VerticalOne's
products and services are forward-looking and are subject to a number of risks
and uncertainties that could cause actual results to differ materially from
expectations. The statements contained in this release that are forward-looking
are based on current expectations and are subject to risks and uncertainties
that could cause actual results to differ materially from the results
contemplated by the forward-looking statements. These risks and uncertainties
include, but are in no way limited to:
- the possibility that the anticipated benefits from our recent acquisition
transactions will not be fully realized;
- the possibility that costs or difficulties related to our integration of
recent acquisitions will be greater than expected;
- our dependence on the timely development, introduction and customers
acceptance of new internet services;
-rapidly changing technology and shifting demand requirements and internet
usage patterns;
-other risks and uncertainties, including the impact of competitive services,
products and prices, the unsettled conditions in the internet and other
high-technology industries and the ability to attract and retain key personnel;
and
-other risk factors as may be detailed from time to time in our public
announcements and filings with the SEC, including S1's annual report on Form
10-K for the year ended December 31, 1999.
In addition, nothing in the press release should be viewed as an update or
comment on earlier forward looking statements provided by VerticalOne, S1 or
any of its affiliates. As noted above, because actual results, performance or
developments may differ materially from forward-looking statements, neither
VerticalOne nor S1 will update such statements over the course of future
periods.
--30--CT/ch*
CONTACT: VerticalOne
Sandra Dunn, 678/443-7890
sdunn@verticalone.com
or
Merritt Group
Alisa Valudes, 703/556-6300, ext. 115
valudes@merrittgrp.com
or
S1 Corporation (Investor Relations)
Marcy Theobald, 404/812-6254
marcy.theobald@s1.com
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(END) DOW JONES NEWS 09-19-00
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