Telstra Launches Online Banking Solution

[Sydney, AUSTRALIA] Telecommunications services provider Telstra has launched an online banking
solution initiative to provide Internet banking services to second tier
financial institutions such as credit unions and small banks.

Through an alliance with Axis Media Group subsidiary NBBS, the
Telstra eBanking Solution (TeBS) will use network banking technology from
the global software company Brokat.

“The eBanking Solution will provide second tier financial institutions
with the facility to launch an Internet banking service without the need to
invest in costly infrastructure and software,” said Telstra’s eBanking
solution product manager Ilona Johnson.

“The technology provides a platform which, through further development,
will allow a financial institution to connect customers to core banking
systems via access devices such as kiosks, mobile phones, Personal Digital
Assistants (PDAs), Interactive Voice Response (IVR) systems and popular personal
finance packages such as Microsoft Money,” said Johnson.

The eBanking Solution will also include a Customer Relationship
Management (CRM) system to develop tailored customer services, making
the product one of the first Application Service Provider (ASP) products to
be launched in the financial services area, Telstra said.

“The eBanking Solution will enable Telstra to build closer relationships
with the financial services sector, value-add to its hosting and network
capabilities and provide another channel to market for future technological
offerings such as Wireless Application Protocol (WAP),” Johnson said.

Telstra plans to target approximately 24 financial institutions within
the next two years.

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