Datek Chooses Tumbleweed
Datek Online Delivers Electronic Trade Confirmations and Statements Using Tumbleweed IME
biz.yahoo.com
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Oct. 18, 1999--Tumbleweed Communications Corp. (Nasdaq:TMWD - news), a leading provider of secure Internet communications services, today announced that Datek Online Holdings Corp., a pioneer in the online brokerage industry, is using Tumbleweed's Integrated Messaging Exchange(TM) (IME(TM)) as its foundation for secure online communication with its customers.
Datek will begin delivering electronic trade confirmations to its customers via IME this month, and will begin delivering statements in November.
Datek Online empowers individual investors by providing them with access to the financial markets through innovative technology such as Tumbleweed IME, which is a set of products and services that leverage the Internet and existing e-mail to enable secure, trackable online communication. IME works with any e-mail client and any browser. Datek's customers will not be required to install any software to take advantage of this new service.
``We are striking a balance as we move from paper to online communication. We are delighted to be able to deliver important data to our customers online without compromising the security or control of the confidential information we send them,' said Peter Stern, chief technology officer, Datek Online.
``We conducted an exhaustive evaluation and determined that Tumbleweed IME is the ideal solution for us. IME meets our security and tracking requirements and enables our customers to receive trade confirmations and statements immediately via the e-mail client and browser they already use. We see significant opportunities in this new online communications channel. We've offered tremendous value for customers who come to our site -- now we have a secure channel to reach out to them and deliver that same value right to their desktops.'
``Datek has taken a great step forward to deliver vital new services to its customers,' said Jeffrey C. Smith, president and CEO, Tumbleweed Communications Corp. ``In Tumbleweed IME, Datek has chosen a platform that can not only securely support all of their online communications with their customers, but also define a personal online database for each customer as well as deliver new business and marketing services on demand.'
Tumbleweed IME is integrated with Datek's Web and security infrastructure -- which ensures that the Datek customer's user experience is seamless and familiar.
In addition, Tumbleweed IME works easily with Datek's existing trade confirmation and statement processing systems, which enabled rapid deployment.
About Datek Online Holdings Corp.
Datek Online Holdings Corp., headquartered in Iselin, N.J., operates Datek Online Brokerage Services, the nation's fifth largest online brokerage firm; Datek Online Software Services; and Datek Online Clearing Corp., one of the nation's largest clearing firms settling in excess of 500,000 trades per day. Datek Online Holdings Corp. also maintains an interest in The Island ECN, Inc., the nation's second largest alternative trading system.
About Tumbleweed Communications Corp.
Tumbleweed Communications is a leading provider of secure online communication services. Tumbleweed Integrated Messaging Exchange (IME) includes all the components necessary to develop and deploy online business applications involving the delivery of files and documents. Working with existing e-mail systems and online applications, Tumbleweed IME powers universal messaging solutions ranging from confidential, trackable business exchanges to secure, automated transactions.
Founded in 1993, Tumbleweed (Nasdaq:TMWD - news) is headquartered in Redwood City. Tumbleweed customers include the Chase Manhattan Bank, the European Commission, United Parcel Service (UPS), Pitney Bowes, and NTT. Tumbleweed partners include Sun Microsystems, Oracle, VeriSign, and RSA. Additional information about Tumbleweed Communications can be found at www.tumbleweed.com. Tumbleweed is a registered trademark and Integrated Messaging Exchange and IME are trademarks of Tumbleweed Communications Corp.
Except for the historical information contained herein, the matters discussed in this press release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected, particularly with respect to when IME-based services may be available. In some cases, forward-looking statements can be identified by terminology such as ``may,' ``will,' ``should,' ``potential,' ``continue,' ``expects,' ``anticipates,' ``intends,' ``plans,' ``believes,' ``estimates,' and similar expressions. We refer you to the documents Tumbleweed files from time to time with the Securities and Exchange Commission, particularly the prospectus dated August 5, 1999, and especially the section titled ``risk factors,' for further cautions about investing in Tumbleweed. Tumbleweed assumes no obligation to update information contained in this press release. |
