724 Solutions and Corillian to Develop WAP Banking Services

[Toronto, CANADA] — 724 Solutions
Inc.
, an Internet infrastructure software developer for financial
services providers, and Corillian
Corporation
, which offers eFinance solutions, are working to provide
financial services firms with seamless wired and wireless Internet
banking solutions.

The scalable product will be based upon the 724 Solutions Financial
Services Platform and will enable wireless banking functionality for
Wireless Application Protocol (WAP)-enabled phones, in combination with
Corillian’s Voyager platform. The product will be jointly marketed, and
made available exclusively through Corillian.

Corillian Corporation’s Voyager eFinance Suite is built on the Windows
NT operating system and supports Internet-based banking, bill delivery
and payment, brokerage, target marketing, and small business
transactions.

The joint solution is expected to be available in the fourth quarter of
2000. The wireless banking functionality enabled by 724 Solutions will
allow consumers to use their WAP-enabled mobile phones to view account
balances and transaction histories, transfer funds, pay bills, and order
checks.

Ted Spooner, president and chief executive officer of Corillian said,
“Corillian offers financial service providers the flexibility to have
their Internet banking operations hosted or on-site, and the scalability
to service millions of their online customers. By choosing 724 Solutions
as our trusted wireless solution partner, we are rounding out our
solution by adding valuable wireless banking capabilities.”
The company is based in Beaverton, Ore.

724 Solutions’ services enable financial institutions to offer
personalized online banking, brokerage and e-commerce services across a
range of Internet-enabled wireless and consumer electronic devices.
Customers can access online banking and brokerage services through
network service providers using digital mobile phones, personal digital
assistants, two-way pagers and personal computers. Headquartered in
Toronto, the company has offices in London, San Francisco, Sydney, and
Tokyo.

International Data Corporation (IDC) estimates that by 2004, the number
of people accessing the Internet via WAP phones (1.3 billion) will
outnumber those who access it via wired devices (7.2 million).

News Around the Web