724 Solutions Announces Application Hosting Capabilities With Exodus Communications
Tuesday March 21, 7:29 am Eastern Time
Company Press Release
SOURCE: 724 Solutions Inc.
724 Solutions Announces Application Hosting Capabilities With Exodus Communications
Claritybank.com Will Be First Application Hosting Customer
TORONTO, March 21 /PRNewswire/ -- In a move that will extend its service offering, 724 Solutions Inc. (Nasdaq: SVNX - news; Toronto: SVN - news), a leading Internet infrastructure software developer for financial services providers, has chosen Exodus Communications(TM), Inc. (Nasdaq: EXDS - news), a leader in complex Internet hosting and managed services, to host its Internet operations. By working with Exodus©, 724 Solutions will accelerate the time-to-market for customers who choose to put the task of application hosting management into its secure hands.
724 Solutions' application hosting capabilities offer customers the advantage of a speedier time-to-market and increased cost-effectiveness by reducing or eliminating the complexity of setting up the host environment for its Financial Services Platform. The onus of building and securing a data center, building out the infrastructure, and hiring and training staff to maintain and manage the application is put into the hands of people whose core competency and focus is supporting the 724 Solutions platform.
Essentially, the 724 Solutions-managed application hosting data center relieves customers of the need to struggle with start-up tasks by providing a secure, ready-made hosting environment they can simply plug into. Claritybank.com, 724 Solutions' newest and first exclusively online financial services customer, has chosen to have its 724 Solutions Financial Services Platform application hosted in the first 724 Solutions-managed applications hosting data center.
``Our customers choose the 724 Solutions Financial Services Platform because of its depth and sophistication -- both in terms of security and functionality. With this exciting partnership with Exodus Communications, we are now able to take some of the cost and a lot of the time involved in hosting our application out of our customers' hands,' said Greg Wolfond, Chief Executive Officer, 724 Solutions Inc.
Moving forward with its application hosting objectives allows 724 Solutions to make it easier for customers to implement its financial services application. The customers' time is then freed up to concentrate on their core business and marketing their wireless capabilities.
724 Solutions chose to team with Exodus because of its leading role in pioneering the Internet data center market. A leading provider of Internet systems and network management solutions for more than 1,000 enterprises, Exodus is an experienced provider of complex Internet hosting with world-class facilities whose attention to security, service, and operational excellence mirrors the values of 724 Solutions.
About 724 Solutions Inc.
724 Solutions provides an Internet infrastructure solution to financial institutions that enables them to offer personalized and secure online banking, brokerage and e-commerce services across a wide range of Internet-enabled wireless and consumer electronic devices. The Company's solution currently enables consumers to access online banking and brokerage services through network service providers using digital mobile phones, personal digital assistants, two-way pagers and personal computers. 724 Solutions' customers include Citigroup, Bank of America, Bank of Montreal, Wells Fargo and Claritybank.com. 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 and Exodus will not successfully develop or operate any products, services and technologies; and other risks outlined in 724 Solutions' SEC filings, including but not limited to 724 Solutions' registration statement on Form F-1 or filings on Form 6-F. Neither 724 Solutions nor Exodus undertakes any obligation to update this forward-looking information, except as required under applicable law.
Exodus Communications and Exodus are trademarks of Exodus Communications, Inc., and may be registered in certain jurisdictions. All other trademarks mentioned in this document are the property of their respective owners.
SOURCE: 724 Solutions Inc. |
