Edify Corp. Announces Fully Integrated Software Application for Web Banking; Edify Expands Product Line with New Electronic Banking Solution.

SANTA CLARA, Calif.--(BUSINESS WIRE)--May 20, 1996--Edify Corp. (NASDAQ:EDFY), the leading provider of self-service software, today introduced the Edify Electronic Banking System (EBS), a software application product which offers financial institutions the means to deploy a suite of automated banking services via the World Wide Web.

In addition, EBS is the first product to combine Web banking services with optional electronic banking capabilities that support self-service via telephones, fax and personal financial management software. EBS is the first application product developed as part of Edify's strategy to deliver complete self-service solutions to key vertical markets.

"With today's announcement, Edify is addressing the evolving market requirements for electronic banking systems," said Tom Glassanos, vice president of marketing for Edify Corporation. "EBS underscores our commitment to provide financial institutions with the means to use the Web as a strategic new distribution and service delivery channel."

"The Web presents financial institutions with a unique opportunity to stake out new markets and expand customer relationships," said Richard Crone, an electronic banking consultant. "Edify's Electronic Banking System allows financial institutions to capture market share by being first to market with innovative new service offerings."

Edify's Electronic Banking System

Edify's EBS addresses several emerging electronic banking trends: customer demand for anytime, anywhere service, product time-to-market imperatives and increasingly complex back-office integration challenges. EBS represents a new breed of self-service software, enabling financial institutions to enhance the level of service they provide to customers and prospects. The Edify Electronic Banking System is comprised of three components:

-- Fully integrated application suite for Web banking;

-- Multiple electronic delivery options including telephone, fax

and personal financial managers; and

-- Visual customization tools for rapid customization and

integration with a wide range of back-office systems.

Web Banking Application Suite

EBS allows financial institutions to deploy innovative interactive Web banking services for their retail customers. EBS combines support for full bank branding with an open systems approach, ensuring that banks maintain a direct relationship with their customers while also controlling the payment process.

This is accomplished through a user interface framework that includes a toolset to allow banks to incorporate their unique brands, logos and product names into the application. The framework leverages the latest Web browser technology to offer users a compelling and intuitive frames-based Web user interface. A non-frames-based user interface can also be presented to the customer.

The first release of EBS can include up to six integrated application modules: Home Banking, Bill Payment, Dynamic Target Marketing, Personal Profile, Message Center and Customer Service Teleconferencing. -0-

-- Home Banking includes: secure log-on, account balance inquiry, funds transfer, account statement review and transaction reports;

-- Bill Payment includes: payee administration, payment scheduling, payment verification and pending payment reports;

-- Dynamic Target Marketing includes: cross-selling windows support, customer-specific target messaging, dynamic message rotation and customer response reporting;

-- Personal Profile includes: password update, account profile review, account profile update and user interface selection (frames/non-frames);

-- Message Center includes: bank message creation and review for correspondence between customers and bank personnel; and

-- Customer Service Teleconferencing includes: Web activated customer service requests, providing for automatic teleconferencing between the customer and the bank CSR.

Multiple Electronic Delivery Options

True anytime, anywhere service means providing customers with a broad range of information access options, empowering customers to choose how and when they interact with their financial services provider. As the number of access options increase, banks need to respond quickly with new services that meet customer expectations and ensure customer retention.

Banks have traditionally implemented these services one at a time, requiring distinct connections to their back-office systems. EBS presents banks with a new service delivery strategy, offering multiple access options from one system operating through a single connection to back-office information.

In addition to the Web, EBS supports customer access through telephones, fax, e-mail, pagers and PC-based client applications including kiosks and personal financial managers such as Microsoft Money. With EBS, anytime, anywhere service can be deployed quickly and cost effectively.

Visual Customization Tools

EBS has been designed using the visual customization tools of Edify's Electronic Workforce software, enabling banks to update and add additional services as their application and market requirements evolve. EBS utilizes these tools to facilitate integration with back-office legacy and client-server systems, easy adaptation of application modules, and development of services incorporating multiple media.

Use of the Electronic Workforce software also provides a scaleable and highly reliable run-time environment, meeting bank requirements for high capacity, mission critical implementations. The combination of these capabilities offers financial institutions significant time-to-market advantages.

EBS customers can also use the visual customization tools of the Electronic Workforce to develop custom Web banking modules that integrate with the EBS Web user interface framework. With this customization capability, financial institutions can offer differentiated services ahead of their competition while still gaining the economies of scale benefits traditionally achieved with productized solutions.

Customer Example

Dollar Bank, a $2.4 billion company headquartered in Pittsburgh, Pa., plans to use EBS to expand upon the home banking and bill payment services the bank presently offers its customers in Western Pennsylvania and Northeast Ohio.

"This is a natural extension of our telephone banking service, Pay-By-Phone, which Dollar pioneered 21 years ago," explained Joseph B. Smith, senior vice president of Dollar Bank's marketing department. "An increasing number of our customers want to use their personal computers as well as their phones to do their banking," Smith said. "Edify's Electronic Banking System permits us to respond easily and quickly to our customers' demands and explore the potential of other electronic delivery options such as the World Wide Web."

"Choosing Edify was an easy decision," said James Pratt, Dollar Bank's vice president for data processing. "Not only were we impressed with the expertise of Edify's people, but their object-oriented development tool and the point-and-click technology they use makes it easy for our people to quickly change applications and adjust to customers' future demands."

Pricing and Availability

Electronic Banking System pricing, including the application and implementation services, begins at $195,000 (US). First customer shipment of the product is scheduled for summer 1996.

About Edify Corp.

Edify develops, markets and supports self-service software that enables organizations to provide automated services accessed by customers, employees and business partners through the Internet, private Intranets, Web browsers, telephones and electronic mail. The Company's software, the Electronic Workforce, addresses the growing need for organizations to provide more and better service while containing costs, capitalize on emerging interactive media and leverage investments in enterprise systems and communications infrastructure.

Over the past four years, Edify has licensed Electronic Workforce to over 450 customers for telephone and electronic mail self-service applications such as bank account inquires, employee benefit enrollments, inventory status and automatic shipment notifications. The Company began shipping a Web-enabled version of its Electronic Workforce in the fourth quarter of 1995 as part of its strategy to exploit and develop the market for Web/Intranet self-service applications.

Edify distributes products directly and through leading certified solutions providers, application partners and distributors worldwide. Headquartered in Santa Clara, the Company employs over 200 people. Additional information may be obtained via the World Wide Web at http://www.edify.com. -0-

NOTE TO EDITORS: Edify and Electronic Workforce are registered trademarks and Edify Electronic Banking System is a trademark of Edify in the United States and/or other countries. All other company and product names may be trademarks of their respective owners.

CONTACT: Edify Corp., Santa Clara

Brenda Hansen, 408/982-4114

[e-mail]

www.edify.com

or

The Horn Group Inc.

Carol Shen, 415/579-6424

[e-mail]

www.horngroup.com