Home Financial Network Announces Year 2000 (Y2K) Compliance For Gold, OFX and ADMS Versions of Home ATM Software
June 11, 1998
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WESTPORT, Conn., June 10 /PRNewswire/ via NewsEdge Corporation -- Home Financial Network, Inc. (HFN) announced that the Gold versions of its Home ATM(R) Banking and Home ATM Bill Pay software products are fully Year 2000 compliant. In testing performed with Integrion, HFN's Internet and PC-based products successfully completed the Year 2000 century date conditions incorporated in Integrion's Gold and ADMS validation program.
In a related statement, HFN announced that its Home ATM software is now fully compliant with CheckFree's OFX specification for Y2K. Certification testing to CheckFree's Y2K standard is presently being conducted by HFN and CheckFree, and is anticipated to confirm full Y2K compatibility for Home ATM on CheckFree's existing OFX and soon-to-be released Genesis platforms.
HFN's Home ATM software now supports each of the leading Y2K date format standards as specified by Integrion (ADMS and Gold), CheckFree (OFX) and ISO. The enhancements were developed using development tools from Microsoft (Foundation Class 4.0; MFC 5.0) and Sun Microsystems (Sun Java date/time library). Date formats supported include:
* YYYY-MM-DD (ADMS)
* YYYY-MM-DD-HH-MM-SS (OFX)
* YYYY-MM-DD (Gold)
Financial institutions everywhere are grappling with the Y2K problem that stems from the inability of most computer systems to recognize dates beyond the year 1999. Solving the Y2K problem has become the financial community's equivalent of the "Manhattan Project." In addition to concerning themselves with the Y2K capabilities of their legacy systems and transaction processing capabilities, financial institutions must also be certain the home banking software provided to their customers is Y2K compliant.
Development by HFN
Recognizing the extent of the problem, HFN decided to take a pro-active approach by re-engineering its software to meet the exacting Y2K specifications established by Microsoft, Sun Microsystems and ISO, and supported by HFN's partners, including Integrion and CheckFree. Following completion of the enhancements to its software, HFN undertook the rigorous testing required to ensure validation with the Y2K specifications.
Commenting on HFN's decision to enhance its software, Daniel M. Schley, chairman and CEO of Home Financial Network said, "Financial institutions and their customers certainly have a reason to be concerned about the year 2000. We would be remiss if we did not assume the obligation now of designing and delivering software fully capable of operating in the next century. Heaven forbid it's the third week of January, 2000, and home banking customers find they are unable to pay their bills."
"Integrion applauds HFN in taking this decisive step in addressing Y2K issues for their Home ATM software products. We are pleased that HFN has taken the more comprehensive approach to this problem and identified solutions for Gold, ADMS and OFX-based versions of their products," said William M. Fenimore, Jr., CEO and Managing Director of Integrion. "By successfully eliminating this potential risk, HFN continues to exhibit tremendous dedication and foresight that its products are meeting the needs of financial institutions and their customers."
HFN to Include Y2K Language in All Bank Contracts
To further reassure its partnering banks, HFN has modified its standard bank and processor agreements to incorporate affirmative covenants regarding Y2K certification of its software. The Y2K language, which now appears in all standard HFN agreements, is as follows:
Millennium Date Change. HFN represents and warrants to Financial
Institution that (Home ATM) will operate during the term of this Agreement
and will continue to operate beyond December 31, 1999 ("Millennium Date
Change") to the same level of functionality as would otherwise be provided
in the absence of a Millennium Date Change.
"We are appending this language to all of our standard bank contracts to give banks and processors alike the comfort that the Y2K compliance of our Home ATM Banking and Home ATM Bill Pay software is one thing they do not have to worry about," said Schley.
About Home Financial Network, Inc. ( homeatm.com)
Home Financial Network, Inc. develops and markets Internet-based home banking software that enables financial institutions to deliver private-branded electronic financial services to their mass market customers. The company's products are written in C++ and 100% Pure Java, are designed to communicate via TCP/IP and X.25, and are compliant with each of the major home banking protocols, including ADMS, OFX and Gold. HFN has long-term agreements in place with each of the major home banking processors, including CheckFree, Integrion and First Data Corp.
About Integrion ( integrion.net)
Owned by 17 banks, IBM and Visa USA, Integrion Financial Network provides interactive banking and electronic commerce services to financial institutions. Through the Interactive Financial Services (IFS) platform, Integrion offers financial institutions a scalable, reliable and secure network through which electronic transactions flow from multiple consumer access points to a bank's host system and/or processor. Technology partnerships with IBM and CheckFree Corporation allow for the delivery of flexible, high utility applications that can be employed at a financial institution for the benefit of end customers.
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.
About CheckFree ( checkfree.com)
Founded in 1981, CheckFree Corporation is the leading provider of electronic commerce services, software and related products for over 1.5 million consumers, 1,000 businesses and 850 financial institutions. CheckFree designs, develops and markets services that enable its customers to make electronic payments and collections, automate paper-based recurring financial transactions and make secure purchases on the Internet.
Home ATM is a registered trade of Home Financial Network, Inc. All other company and product names may be trademarks or registered trademarks of the respective companies with which they are associated.
SOURCE Home Financial Network, Inc.
/CONTACT: Ann Marie Lochner of Lochner & Hawk, 908-852-3656, for Home Financial Network; or Tom Dittrich of Home Financial Network, 203-341-7403/ /Web site: checkfree.com integrion.net homeatm.com
[Copyright 1998, PR Newswire]
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