of passing interest in regards to e-banking........
brokat infosystems earns strong first quarter results, strengthens position with strategic partnerships
December 17, 1998
ATLANTA--(BUSINESS WIRE) via NewsEdge Corporation -- Business alliances are key to BROKAT's global growth strategy
BROKAT Infosystems AG, the leading provider of secure software for e-banking and e-business solutions, continued its international growth in the first quarter of the 1998-99 fiscal year with total revenues of $5.3 million (DM 8.8 million), an increase of 49 percent compared with the same period last year.
The company also invested $1.9 million (DM 3.2 million) during the quarter in international operations, of which nearly half was dedicated to cultivating the company's position in the U.S. market.
"We are delighted with the reception BROKAT has received in the United States," said Scott Pranger, general manager for BROKAT US. "Already we have formed relationships with several strategic partners in the financial services industry which is key to the success of our North America strategy. "
Significant investment also was made in research and development to ensure the company's continued position as a technological leader. As a result, the security component in the newest version of BROKAT's award-winning Twister(TM) e-services platform, XPresso(TM) Security Package 1.3, is the latest BROKAT product to be certified by the German Federal Institute for Security in Information Technology (BSI). The BSI classification of ITSEC E3-high certifies that the XPresso Security Package provides extremely secure mechanisms to ensure the confidentiality and integrity of the data. Such an assessment proves that BROKAT solutions, employed by more than 1,600 financial services worldwide including the Deutsche Bank, Allianz, Fortis Bank Luxembourg, Cooperative Bank UK and several hundred co-operative banks and savings banks, have very high standards of security.
Further, the August 1998 Meridien Research report "Ranking the Vendors of Internet Banking Solutions" named BROKAT first in both 'Number of Financial Institutions Live,' with a total of 1,538, and 'Number of Internet End Users,' with more than 900,000, compared with 270 and 200,000 respectively for the closest competitor.
"Today, BROKAT provides Internet banking solutions to more than 1,600 financial institutions worldwide," continued Pranger. "Our strategy for North America is to work with the maturing field of electronic banking providers to develop alternative, next generation platforms for their existing applications."
The company's global growth strategy includes considerable emphasis on cultivating business partnerships and subsequently developing indirect distribution channels. Toward that end, BROKAT has succeeded in attracting a number of strategic partners, including Siemens Business Services and, most recently, Sun Microsystems. As part of a worldwide partnership, Siemens Business Services will market complete solutions for online banking using BROKAT products and services.
Similarly, Sun will market BROKAT's Twister e-services platform and other products to its customers for use with the Sun Connect open-systems architecture. BROKAT and Sun also have signed a joint marketing agreement to globally market the financial services applications developed by BROKAT on the Sun Connect architecture, enabling financial institutions around the world to offer their products and services anytime, anywhere through multiple delivery channels, including the Internet and mobile phone networks.
Other U.S. partners include electronic financial services providers Transaction Software Technologies, Inc. and Politzer & Haney. TST will implement BROKAT's core product Twister as a strategic software platform within their product offerings.
About BROKAT
BROKAT Infosystems AG (www.BROKAT.com) is a leading supplier of software for e-banking and e-business solutions, that permits business transactions to be conducted easily and securely, anytime, anywhere through electronic channels. BROKAT products provide an open, secure, CORBA-based infrastructure that is optimized for rapid development, software re-use, and electronic delivery of business services. BROKAT's Twister e-services platform is used by more than 1600 institutions to provide banking, brokerage, insurance, and other services over electronic channels such as the Internet, mobile phone, fat-PC clients, and traditional phones. BROKAT provides complete solutions through its strong partner network, and a full range of services including consulting, training, and support. Founded in 1994, BROKAT Infosystems AG is headquartered in Stuttgart, Germany, and has offices around the globe. BROKAT US is headquartered in Atlanta.
NOTE TO EDITORS: BROKAT, BROKAT Infosystems, Twister, and XPresso are trademarks of BROKAT Infosystems, AG in the United States and other countries. All other trademarks are properties of their respective companies.
<<Business Wire, 12-16-98, 12:34 Eastern>>
CONTACT: Copithorne & Bellows | Jacqueline Parker, 770/392-8611 | jacqueline.parker@cbpr.com
[Copyright 1998, Business Wire]
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