Corillian and CashEdge Deliver Advanced Online Money Movement Capabilities.Business Editors/High-Tech Writers PORTLAND, Ore. & NEW YORK--(BUSINESS WIRE)--Nov. 19, 2003 Expanded Partnership adds Enhanced Online Transfer and Payment services to Integrated 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. Offering Corillian Corp. (Nasdaq:CORI), the top provider of online banking solutions for leading financial institutions, and CashEdge, ( www.cashedge.com ) a provider of secure Online Money Movement and Advanced Account Aggregation platforms, today announced the expansion of the companies' strategic partnership. Corillian will integrate CashEdge's Online Money Movement, Inter-Institution Transfer, and Pay Anyone services into the industry-leading Corillian Voyager Voyager, airplane Voyager, the first airplane to circumnavigate the earth nonstop on a single load of fuel. Designed by Burt Rutan and flown by Dick Rutan and Jeana Yeager, Voyager took off from California on Dec. Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the banking platform; including applications for Consumer Banking, Small Business Banking, Corporate Cash Management and Credit Card Management. Charter One, a $44 billion bank holding company headquartered in Cleveland, Ohio "Cleveland" redirects here. For the Cleveland metropolitan area, see . For other uses, see Cleveland (disambiguation). Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the most populous county in the state. , will be the first customer to deliver the integrated online money movement capabilities to its retail and small business customers. "With the combined solution from Corillian and CashEdge, we expect Charter One will continue to extend its leadership in online banking," said Mike Dobbins, senior vice president, direct banking at Charter One. "This new capability will ensure us a competitive advantage -- by offering account aggregation, bank-to-bank transfer functions and pay-anyone services -- completely integrated into Charter One's unique, differentiated online banking experience." Corillian and CashEdge first entered into a strategic partnership in November 2002 to offer CashEdge's Advanced Account Aggregation platform as part of Corillian's OneSource Register (OSR OSR Orchestre de La Suisse Romande OSR OEM Service Release OSR Ontario Student Record OSR Office of School Readiness (various locales) OSR Office of Scientific Research OSR Overseas Service Ribbon OSR Ohio State Reformatory ) aggregation and online register application on the Corillian Voyager platform. This expanded agreement will build on the payments capabilities within the Corillian Voyager platform to deliver a complete set of secure online payment options including single-session new account opening and funding, inter-institution money transfer, and "pay anyone" email payments, all through an innovative and enhanced user interface. "The ability for online banking users to seamlessly transfer money and have the flexibility to pay anyone electronically is becoming must-have functionality for leading financial institutions," said Alex Hart, president and 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. of Corillian. "Charter One is a prime example of an aggressive financial institution that is looking to not only set the standard for online banking, but to continue raising the bar. Augmenting our relationship with CashEdge will accelerate our delivery of these advanced online banking services to Charter One and other leading financial institutions." "Corillian is a leader in serving large financial institutions," said Sanjeev Dheer, CEO of CashEdge. "Our selection as their strategic partner is a tremendous endorsement of our technology and a great opportunity for our company to serve Corillian's numerous financial institution clients." About Corillian Corporation Corillian is the top provider of online banking solutions for leading financial institutions. Empowered with Corillian solutions, some of the world's most visionary 1. visionary - One who hacks vision, in the sense of an Artificial Intelligence researcher working on the problem of getting computers to "see" things using TV cameras. (There isn't any problem in sending information from a TV camera to a computer. financial institutions provide their customers with the tools to manage their finances more effectively. Corillian's solutions are unmatched in reliability and performance, and successfully scale at some of the world's largest financial institutions. Corillian's proven solutions enable financial institutions to deliver innovative services enterprise-wide, across multiple delivery channels and multiple lines of business. The Corillian Voyager platform provides secure and scalable account access and transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. for a wide variety of applications built by Corillian's expert software developers, by Corillian-certified partners, and by the in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. development organizations of some of the world's best financial institutions. For more information about Corillian Corporation, visit the company's Web site at http://www.corillian.com. About CashEdge CashEdge(R) provides infrastructure that global financial institutions rely on to extend their online channels and enhance customer profitability Customer profitability (CP) is the difference between the revenues earned from and the costs associated with the customer relationship in a specified period. According to Philip Kotler,"a profitable customer is a person,household or a company that overtime,yields a revenue . CashEdge delivers secure Online Money Movement and Advanced Account Aggregation platforms that power specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. retail banking and advisor applications. These proven solutions enable CashEdge's clients to create compelling online offerings that attract customers, generate revenues, and reduce costs. CashEdge clients include more than 65 top-tier financial institutions around the world. CashEdge has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Silicon Valley. For more information, please visit our Web site at www.cashedge.com. |
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