AMERICAN BANKERS ASSOCIATION SELECTS MCI AS PREFERRED COMMUNICATIONS CARRIER.WASHINGTON, D.C.--(BUSINESS WIRE)--Nov. 25, 1996-- Joint Marketing Agreement With MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. To Offer Banks Savings And Advanced Services The American Bankers Association The American Bankers Association (ABA) is comprised of banks and other financial institutions. It seeks to promote the strength and profitability of the banking industry by Lobbying federal and state governments, building industry consensus on key issues, and providing products and through its subsidiary, the Corporation for American Banking, has selected MCI as its preferred telecommunications provider for a new joint marketing program that offers banks savings and access to advanced MCI communications This article is about MCI before it merged with WorldCom. For other uses, see MCI. MCI Communications was an American telecommunications company that was instrumental in legal and regulatory changes that led to the breakup of the AT&T monopoly of American telephony and services. Under the agreement, MCI -- with marketing support from ABA and state banking associations -- will offer banks voice communications services on the MCI Vision plan that include: in-state, interstate and international long distance calling, as well as intraLATA local toll service. In addition, MCI will provide advanced business communications applications including: MCI Hyperstream frame relay A high-speed packet switching protocol used in wide area networks (WANs). Providing a granular service of up to DS3 speed (45 Mbps), it has become popular for LAN to LAN connections across remote distances, and services are offered by most major carriers. and MCI Private Line data services, and audio conferencing See audioconferencing. services through networkMCI Conferencing. "Banks will see immediate savings and receive enhanced services through the MCI partnership," said Donald G. Ogilvie, ABA executive vice president. "MCI's culture of applying technological solutions to changing market dynamics is ideal for banks that are developing new menus of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. for their clients." Going forward, ABA and MCI will develop enhanced services that could include applications such as banking via the Internet, wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. and call center consulting. "MCI looks forward to supplying banks with the technology muscle and integrated communications solutions to arm them with a formidable competitive advantage," said Vincent C. Corica, MCI Business Sales and Service senior vice president. ABA has teamed with the Iowa Bankers Association to provide a custom billing system that automatically deducts payment from the bank's account. MCI's National Account Team will manage the nationwide rollout of the program. The American Bankers Association brings together all elements of the banking community to best represent the interests of this rapidly changing industry. Its membership -- which includes community, regional and money center banks Money center banks Banks that raise most of their funds from the domestic and international money markets , relying less on depositors for funds. and holding companies, as well as savings associations, trust companies and savings banks -- makes ABA the largest banking trade association in the nation. CAB, ABA's for-profit subsidiary, identifies products and programs that assist banks with their income producing and operational needs. MCI, headquartered in Washington, D.C., provides a full range of integrated communications services to more than 20 million customers. Credited with opening up the U.S. long distance market for competition, MCI is now leading the charge to bring competition to the $100 billion local market, offering American consumers for the first time the freedom to choose their local carrier. With quarterly annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue of more than $18 billion, MCI is one of the largest and fastest growing telecommunications companies in the world. CONTACT: MCI Steve Fox, 770/668-5359 or ABA Nancy Ness Judy, 202/663-5472 |
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