Yodlee, IBM Japan, and NIWS to Market Leading Aggregation Solution in Japan.Business Editors/High-Tech Writers REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.--(BUSINESS WIRE)--Dec. 18, 2002 Aggregation Solutions Empower Financial Institutions to Best Serve, Retain, and Grow Their Customer Relationships Yodlee, the world's leading provider of aggregation solutions, and NIWS NIWS Nights in White Satin (Moody Blues song) NIWS NATO Intelligence Warning System , a leading Japanese solutions provider that specializes in enterprise systems for large financial institutions, today announced an agreement to make available Yodlee's leading OnCenter 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. solution to Japan's financial institutions and portals. The OnCenter service, which allows institutions to best serve, retain and grow their customer relationships, is available through NIWS. IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Japan, which is one of the two major parent companies of NIWS, will provide NIWS with marketing and development support, and introduce Yodlee's solution to customers in the financial industry in Japan. "NIWS provides solutions to its customers by drawing upon its wealth of cutting-edge information technology," explains Ikuo Suesada, Chairman of the Board 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 NIWS. "Yodlee's advanced OnCenter account aggregation solution will allow us to continue to deliver leading edge solutions to our customers." More than three million consumers worldwide currently use the Yodlee OnCenter service, an online center that allows consumers to access and manage all of their online accounts on one web page, with one password. The OnCenter service is powered by aggregation, a user-permissioned data management technology developed by Yodlee that gathers user account data from online accounts and compiles it into one standard format. This includes the online banking, investment, credit card, and other financial accounts that customers have across all financial institutions. Further, it allows customers to consolidate their non-financial accounts such as news, travel and email. Enabling customers to view all their account balances, transactions, and other important account information on one page, with one password, saves them time and greatly increases their loyalty to the financial institution that hosts the OnCenter service. Yodlee's OnCenter aggregation solution is licensed by more than 150 leading financial institutions throughout the U.S., U.K. and Australia. The service has proven to attract an institution's most valuable customers, as affluent customers usually have more complex financial lives with more financial accounts that need to be consolidated. The financial institutions that currently offer Yodlee's OnCenter service have significantly increased per 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 through increased customer retention and more effective cross-sell marketing. Providing aggregation services greatly increases customer loyalty and allows the host institution to see the financial accounts customers have at other institutions. The customer insight generated by this complete view of customers' financial lives benefits both the customer and the institution. It empowers financial institutions to fully understand and best serve their customers' financial needs, while simultaneously growing customer relationships to increase profitability. "We are excited to be partnering with industry leaders to deliver our aggregation solution to the Japanese market," said Anil Arora, president and CEO of Yodlee. "Aggregation has become a 'must-have' for financial institutions because of the significant return on investment it generates. Now, Japanese financial institutions will be able to leverage aggregation as a strategic component of their online strategy to retain and grow their customer relationships." About Yodlee Yodlee Inc., founded in 1999, is the world's leading provider of aggregation data and solutions. It operates in the U.S., U.K., Hong Kong and Australia, and has more than three million users, over $100 billion aggregated across its network, and over 150 clients, including the world's top financial institutions and portals. Aggregation powers a variety of dynamic and practical web-based solutions, which increase the profitability of financial service providers by empowering them to best serve, retain, understand, and grow their customer relationships. Yodlee's clients include: AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Citibank, CUNA Cuna Chibchan-speaking Indian people who once occupied the central region of what is now Panama and the neighbouring San Blas Islands and who still survive in marginal areas. In the 16th century they lived in federated villages under chiefs who wielded considerable power. , Digital Insight, Fidelity, Financial Engines, First Union, J.P. Morgan Chase, Merrill Lynch, MSN (1) (MicroSoft Network) A family of Internet-based services from Microsoft, which includes a search engine, e-mail (Hotmail), instant messaging (Windows Live Messaging) and a general-purpose portal with news, information and shopping (MSN Directory). , S1, Sungard and Yahoo. Yodlee is headquartered in Redwood City, California Redwood City is a suburb located on the San Francisco Peninsula in the San Francisco Bay Area of California. Redwood City is the county seat of San Mateo County. As of the 2005 census, the city had a total population of 76,000. and can be reached at www.yodlee.com. About NIWS NIWS Co., Ltd., established in Japan in July 17, 1992, is a leading provider of client-server open system solutions that are based on UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). technologies. The company, whose primary clients are major financial institutions, went public in April 2002. A joint venture between IBM Japan, Ltd., and Nomura Research Institute, Ltd. (NRI NRI Nomura Research Institute (Tokyo, Japan) NRI Non-Resident Indian NRI Natural Resources Institute NRI National Resources Inventory NRI Networked Readiness Index NRI Natural Resources Inventory NRI National Research Institute ), NIWS pioneered the release of a massively parallel UNIX server machine in the Japanese market. The company features advanced technical capabilities and an extensive stable of systems engineers (SEs). Further information is available at http://www.niws.co.jp/english/. |
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