Business Logic Corporation Creates SourceOFX: the First Certified OFX Solution Based on Web Services Standards.

Business Editors

CHICAGO--(BUSINESS WIRE)--May 28, 2003

Solution to drive significantly lower deployment costs and address

broader needs of Financial Services Industry

Business Logic Corporation is announcing general availability of SourceOFX, the first OFX server solution that also supports the widely accepted W3C XML Schema, SOAP and WSDL standards. The new OFX solution supports investment and banking account downloads with the extensive current installed base of Quicken and Money applications, in addition to providing a Web Services Standards based framework to support new uses for extended OFX like account aggregation, financial advice, wealth management, retirement, and much more. Benefits of the new solution include:

-- Low cost solution. Developing the solution with standard web

services technologies allows Business Logic to lower software

development costs and pass the savings to customers.

-- Dependability and performance that leverages the proven

capabilities of widely used Web Services compliant components.

-- Source Code licensing option to provide financial institutions

with greater flexibility and cost control while reducing risk.

-- Architectural framework that anticipates, and enables,

extensions to both the messaging operations and data

structures for other internal and external integration demands

Financial Institutions will have the option of controlling the source code and will be able to use existing internal resources already skilled in Web Services Standards and development practices. Combined with a low up-front licensing cost, SourceOFX will provide the lowest cost and most flexible solution in the industry.

The ability to extend the SourceOFX solution using Web Services Standards will allow financial institutions to more easily deliver complex data to meet functional requirements of internal and external applications and business partner integrations, including, but not limited to account aggregation, financial planning, high net worth, and compliance.

Business Logic provides this unique and innovative OFX solution following a year of work with Intuit, and multiple financial institutions, to finalize the release of a new Schema based version of OFX. Business Logic has been Chair of the OFX Web Services working group since its inception in 2002.

"Business Logic's new SourceOFX solution offers significant cost, performance, and deployment improvements relative to historical OFX server solutions, "commented Jon Hagen, CTO of Business Logic. "We can provide real examples to show financial institutions how our open, XML schema-based solution can significantly lower integration and maintenance costs in both the J2EE and .NET environments. Financial Institutions will also find plenty of internal resources with the skills to expand and maintain the Web Services-based integrations Business Logic's SourceOFX solution provides them."

"We are pleased to see a solution being created that will allow OFX to further extend its position as the leading open protocol in the financial services industry," said Gil Clark, OFX program director at Intuit Inc. "Now OFX will be able to better support a wide range of applications in the industry while maintaining compliance with the installed base of personal financial management software. At Intuit we know that online banking, investment, and bill payment customers who use Quicken(R), QuickBooks(R), and TurboTax(R) software will benefit from the continued expansion of OFX support by technology experts like Business Logic."

About Business Logic Corporation

Business Logic Corporation is an Application and Integration Solutions Provider focused on the front office integration needs of the financial services and employee benefits industries. Business Logic has been providing application and integration solutions to top- tier financial institutions and their partners since 1996. Our solutions allow over 15 million investment account holders at multiple financial institutions to access and manage their money. These solutions include Managed Accounts for the 401(k) industry, Enterprise OFX-based connectivity solutions, account access for the enterprise, and custom solutions. Business Logic has consistently been a leader in providing solutions that leverage the latest technology standards and address the business needs of the financial services and employee benefits industries.