City National Bank Announces a New Premier Online Service to Consolidate Clients' Financial Information.Business Editors & Internet Writers LOS ANGELES--(BUSINESS WIRE)--Feb. 26, 2001 Among First Regional California Banks to Offer Relationship-Backed Account Aggregation Account aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. for Private Banking Clients City National Bank (NYSE NYSE See: New York Stock Exchange :CYN CYN Canyon ), California's Premier Private and Business Bank(SM), today announced that its personal banking clients can now enroll in the bank's free, comprehensive, personalized and secure account aggregation service, which uses the latest aggregation technology and is supported by the bank's well-known relationship banking model. At the client's direction, City National MyAccounts consolidates his or her online account information from various financial and other organizations, through a single City National Internet site. Using City National MyAccounts, clients can track a broad range of account information via the Internet, summarize information, and gain a clear, comprehensive look at their financial picture, regardless of where their accounts reside. In addition, once they have entered City National MyAccounts, clients can, with one click of the mouse, log into and do transactions in any of their aggregated online services. City National partnered with Yodlee, the world's leading provider of account aggregation services, to power the bank's new, state-of-the-art aggregation service. City National MyAccounts lets clients view recent transactions and account balances for online banking and brokerage accounts, calculate assets and liabilities, consolidate e-mail and track frequent-flier miles, among other activities -- all using one secure password. "We consider online account aggregation an extension of our comprehensive client service model -- an option for clients to more efficiently view and manage their finances at one trusted City National Internet location, if they wish," said Russell Goldsmith, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and chairman of City National Bank. "The fact that we are among the first to offer this `high-tech, high-touch' capability to Californians reflects our commitment to investing in technology and enhancing the personal banking relationship." Recent surveys have shown that a majority of consumers interested in one-stop account viewing -- or aggregation -- prefer having banks provide this service because banks can offer personal investment advice, along with enhanced security measures Noun 1. security measures - measures taken as a precaution against theft or espionage or sabotage etc.; "military security has been stepped up since the recent uprising" security to protect their confidential account information. "Accessing and managing multiple financial accounts from a single site provides convenience," said Goldsmith. "Entrusting that information to City National, where the client's personal banking relationship resides, provides confidence, control and added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
"One important feature of our MyAccounts design is that clients can view their account information in a clean, easy-to-navigate format without being bothered by intrusive `banner ads,'" said Jan Cloyde, executive vice president and director of banking services for City National Bank. "We built in this feature as a way to enhance and simplify our clients' experience with account aggregation." More information about City National MyAccounts, including a free demonstration, can be found at City National's Web site, www.cnb.com, under the "Online Access" button. Account aggregation is the latest addition to City National's suite of online products and services for individuals and businesses, including: -- Online Cash Management: an online business product that bundles several state-of-the-art features designed to give small to mid-sized businesses greater control over their account balances. -- Online Banking and Brokerage: Allows individuals to view personal and brokerage accounts as well as loan balances in real time, obtain account transaction history, process fund transfers, conduct transactions and perform online bill payment. -- Retirement Accounts: Gives employees of companies that have chosen City National for their employees' retirement planning needs access to their 401(k) accounts through City National's online "personal retirement" service. They can use the system to review their accounts, make changes in their investment portfolios, review investment prices and performance, request forms, and develop their own comprehensive retirement planning models, drawing together investment, 401(k) and other retirement-related information into one unified retirement "calculator." Along with City National MyAccounts, inside@cnb, the bank's highly personalized, information-rich platform for qualified City National clients, contains online banking, brokerage and retirement services, industry research, and business news. This password-protected site features customized news folders, research and quote capability, market updates and commentary, foreign exchange commentary and economic commentary and industry insight from bank specialists, titled "cnbInsight." About City National City National Corp. is a publicly owned Publicly owned can refer to:
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "CYN." The corporation's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , City National Bank, is California's Premier Private and Business Bank(SM). City National Bank, which provides banking, trust and investment services, has 48 California offices located throughout Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Orange, Riverside, San Bernardino San Bernardino, city, United States San Bernardino (săn bûr'nədē`nō), city (1990 pop. 164,164), seat of San Bernardino co., S Calif., at the foot of the San Bernardino Mts.; inc. 1854. , San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , San Mateo San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Santa Clara and Ventura counties. City National Bank and its affiliates, which include City National Investments, the bank's trust and investment division, have approximately $18 billion in assets under administration, which includes $6.7 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . For more information about the corporation, visit its Web page at cnb.com. For more information on Yodlee, visit its Web site at www.Yodlee.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion