Reflecting broad and deep support for the Open Financial Exchange (OFX) specification, Intuit Inc. (Nasdaq: INTU) today announced it is teaming with 11 new OFX solution providers (OSPs) to launch the Intuit OFX Solution Provider Program. The addition of these 11 new system integrators and service bureaus to the growing number of companies providing OFX solutions reflects the increasing demand for OFX-enabled connectivity by financial services companies, billers and bill publishers.
Currently 50 companies are marketing OFX solutions to the nation's leading financial institutions and their customers. This wide spectrum of options for OFX solutions demonstrates the vast number of opportunities to financial services companies to quickly enter and succeed with their online strategies. The growing number of server solutions and processors supporting OFX is helping accelerate the adoption of online financial services by financial institutions.
"More and more financial services companies are implementing OFX," said Mark Goines, senior vice president of Intuit. "The large number of OFX Solution Providers teaming with Intuit means financial institutions have reliable and proven resources that enable them to quickly and easily achieve their online banking, brokerage and other online services objectives."
Intuit's OSPs have products and services that are compliant with the OFX specification and compatible with Intuit's Quicken® personal finance software and its QuickBooks® small business accounting software. This compliance enables them to provide customers with quick, easy and secure online banking, bill pay, bill presentment and other online financial services through Intuit's desktop and Web-based software.
Intuit OSP Program
To further drive momentum for the OFX specification, Intuit is teaming with leading OFX solution providers to launch the Intuit OSP Program. Intuit OSPs will receive support from Intuit to develop marketing and other communication tools to promote the OSPs use of the OFX specification. Intuit intends to generate business referrals for OSPs from Intuit's Web site and tradeshow participation. Finally, they will have exposure for their OFX-compliant solutions and efforts to promote the specification on the Intuit OSP Program site at www.fi.intuit.com and on the OFX industry site at www.OFX.net.
New Team Members
OSPs participating in the program include systems integrators and service bureaus. The systems integrators offer OFX server solutions to financial institutions that want to own and house internally the processing of their online banking-related data such as DDA, money market, savings and credit card accounts, while the service bureaus offer financial institutions-such as Internet banking service providers and check, bill payment and credit card processors-hosting services for processing their check and other banking data.
OSPs working with Intuit using OFX include: Atris Technology, BROKAT Financial Systems, Concentrex, Digital Insight, insci-statements.com, Prologic Corporation, S1 Corporation, STEP Technology, Sybase, WebEasy, and Xenosys.
Atris Technology, Inc.
Atris Technology, Inc., headquartered in Gainesville, FL, develops progressive solutions for financial institutions. FlexOFX-Web is Atris' Web Connect product that will enable community banks to offer a cost effective Web-based interface to their customers using Intuit's Quicken as the front end. FlexOFX-Server is Atris' OFX server system that will enable larger financial institutions to offer a seamless, comprehensive interface to their customers using Quicken on-line functionality. Atris has developed unique software modules that enable its software to seamlessly interface with numerous host banking systems. Its Windows-based applications for financial institutions include FlexTeller™, a real time teller system; FlexVerify™, a real time signature and picture verification system; and FlexIVR™, a real time interactive voice response system. The company can be found on the Web at www.atris.com.
BROKAT Financial Systems
Atlanta-based BROKAT Financial Systems is a wholly owned subsidiary of BROKAT Infosystems AG (www.brokat.com), the world's leading supplier of Internet banking applications. Supporting financial institutions of all sizes throughout North America, BROKAT Financial Systems provides a comprehensive array of secure, electronic banking and financial services solutions on a single electronic delivery platform. Based on the company's award-winning Twister™ e-services platform, BROKAT Financial Systems' products and services enable banks to expand their product offerings while minimizing integration, maintenance and support requirements. For more information, visit www.BROKATfs.com.
Concentrex
Concentrex Incorporated (Nasdaq: CCTX), based in Portland, Oregon, is a leading provider of technology-powered solutions to deliver financial services including solutions for real-time host processing and accounting, branch automation, loan origination, new account opening, call center management, cross selling of products and electronic commerce. Concentrex offers eCommerce server solutions that are OFX-compliant through Concentrex's Online Banking, for Community Banks and Credit Unions. These affordable systems help meet customers needs, while maintaining unmatched flexibility. Concentrex serves over 5,000 financial institutions of all types and sizes in the United States. The company can be found on the Web at www.concentrex.com.
Digital Insight Corporation
Digital Insight (Nasdaq: DGIN) is the leading provider of real time Internet banking and Cash Management services to community financial institutions. With headquarters in Calabasas, CA, Digital Insight offers these institutions a cost-effective, outsourced service, branded in the institution's name, which enables them to provide Internet-based banking to their individual and commercial customers. Over 400 community financial institutions have contracted with Digital Insight. Over 500,000 customers of these institutions are actively using the AXIS Internet banking solution. AXIS OFX, Digital Insight's Open Financial Exchange (OFX) solution also operates in a Service Bureau environment. No server is required at the financial institution's data center. AXIS OFX enables financial institutions to deliver online banking directly to users of Intuit's Quicken® and QuickBooks®. The company can be found on the Web at www.digitalinsight.com.
insci-statements.com
insci-statements.com (Nasdaq: INSI), based in Westborough, MA, is an award-winning provider of Internet portal-based statement/billing services and digital document storage, workflow and electronic commerce solutions. Through its Internet Statement Services group, the company enables financial service providers - mutual funds, banks, securities brokers, credit card companies and others - to outsource secure storage, distribution, monitoring and maintenance of consumer statements, trade confirmations, prospectuses and other documents electronically rather than through the U.S. Postal Service. This service employs sophisticated security, open and scalable architecture, fail-safe operational capabilities and conversion of mainframe print streams into HTML, PDF and OFX formats. The company markets and supports its products and services worldwide and can be found on the Web at www.insci-statements.com.
Prologic Corporation
Prologic Corporation, based in Vancouver, BC, is the leading developer of software solutions for the global financial services industry. Prologic technology enables financial institutions to quickly deploy solutions for their converging financial services offerings, while also supporting capabilities for increasing profitability, customer acquisition and retention. Prologic's new OFX-compliant product, i-Wealthview, is an enterprise wealth management solution that features e-banking, e-brokerage and e-insurance modules. It offers a single intuitive user interface for all financial services applications accessed via the Internet. Customers can perform transactions and view information, such as consolidated networth statements, through personalized Web pages regardless of where the financial data originates. With a global market presence, Prologic's banking solutions are installed in over 300 financial institutions worldwide including VirtualBank.com and Stanford Federal Credit Union. The company can be found on the Web at www.PrologicCorp.com.
S1 Corporation
S1 Corporation (Nasdaq: SONE), the pioneer of Internet banking, is today's leading provider of innovative Internet-based financial services solutions. S1 offers a broad range of applications that empower financial organizations to increase revenue, strengthen customer relationships and gain competitive advantage by meeting the evolving needs of their customers across various lines of business, market segments and delivery channels. For example, S1's Consumer Suite, which includes OFX components, is a comprehensive and customizable suite including banking, investments, insurance, bill presentment, personalized one-to-one marketing with content management and multi-lingual/multi-currency support. In addition, through its professional services organization, S1's applications can be implemented in-house or outsourced to the S1 Data Center. The company can be found on the Web at www.s1.com.
STEP Technology, Inc.
STEP Technology, based in Portland, Oregon, is a full service software development firm, delivering high-performance, highly scalable Internet solutions. STEP offers a full range of Active Statements, Web Connect and OFX Server solutions to top-tier financial customers across the nation, including banks, credit unions and online brokerages. STEP is successful where others aren't because it is first and foremost a technology company with deep expertise in the online finance domain. STEP's online finance group includes experts in OFX, MIFST (Marble), DCOM/COM, VC++, DHTML, XML, DNAfs, among others. STEP solutions are targeted for customers requiring high-performance and high-scalability. The company can be found on the Web at www.steptech.com.
Sybase, Inc.
Headquartered in Emeryville, CA, Sybase, Inc. (Nasdaq: SYBS) is one of the largest global independent software companies. The company helps businesses integrate, manage and deliver applications, content and data anywhere they are needed. In 1998, Sybase, Inc. launched Sybase Financial Server (SFS), the first industry-specific application server, developed with the unique needs and requirements of the financial industry in mind. Sybase Financial Server was built around the OFX and FIX protocols and a distributed Web architecture, allowing comprehensive support for online retail and institutional financial services. Designed to enhance strategic applications in banking and capital markets, SFS customers are financial institutions worldwide. The company's web address is http://www.sybase.com
WebEasy, Inc.
WebEasy, Inc., based in Santa Monica, CA, is an Internet consulting and professional services company that works with clients to solve complex eBusiness problems. Dedicated to developing scalable and reliable Web applications, WebEasy provides technical Internet strategy consulting, e-commerce systems integration services, and development of core technologies. WebEasy's OFX application server enables financial institutions, such as Princeton eCom, to offer electronic bill presentment and payment (EBPP) services via the Internet and a simple modular framework for providing additional services under the OFX specification. It's designed to integrate seamlessly with personal finance managers (PFM) including Intuit's Quicken and Microsoft's Money. WebEasy's OFX server provides the type of reliability, performance, and manageability required for mission-critical applications and employs an open architecture supporting Solaris, Linux, AIX, & NT. The company can be found on the Web at www.webeasy.com.
Xenosys Corporation
Xenosys Corporation, based in San Jose, CA, specializes in developing component-based e-commerce solutions for financial and procurement sectors. Its JOFX™ components implement the OFX protocol for the development and deployment of a wide range of online financial services including banking, bill payment, bill presentment, and investment information applications, based on a multi-tiered, distributed object architecture. Its component solutions, which are available for both the client and server side, allow financial institutions to pick and chose the required OFX functionality and rapidly bring their legacy systems to their customers on the Web. In addition to JOFX™ components, Xenosys has developed a suite of Java-based solutions for business-to-business and business-to-consumer commerce, content exchange and procurement. These solutions are the building blocks for financial and procurement portals on the Internet and intranets of the future. Xenosys also provides consulting services for development of e-business solutions in Java, XML, and other leading-edge internet technologies. The company can be found on the Web at www.livebiz.com.
OFX Specification
OFX is a unified specification for the electronic exchange of financial data between financial institutions, businesses and consumers via the Internet. It is designed to support a wide range of financial activities including consumer and small business banking; consumer and small business bill payment; investments, including stocks, bonds, and mutual funds.