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Three Credit Unions License Corillan’s
Voyager for Internet Banking
Date: 8/21/2000 5:30:00 AM
Contact: Steve Shaw
BEAVERTON, Ore. - Aug.
21, 2000 - Corillian Corp. (NASDAQ: CORI), a
leading provider of eFinance solutions for the
Internet, today announced that First Tech Credit
Union, Royal Credit Union and Educational
Community Credit Union have licensed Corillian's
Voyager platform to provide its members with
real-time Internet access to account information.
"All three of these financial institutions
have different needs for their Internet banking
operations," said Ted Spooner, president and
CEO of Corillian. "Through the flexibility,
openness and scalability of Corillian's Voyager
platform, we are able to tailor the solution to
meet each of their needs specifically. This type
of flexibility and openness provides financial
institutions with a solution that fully
integrates their Internet operations with their
legacy systems and other delivery channels. In
essence, it makes Voyager the operating system
for eFinance."
First Tech Credit Union, a $700 million credit
union located in Beaverton, Ore., selected
Corillian's Voyager because of its OFX server
capabilities. With Voyager's OFX server, First
Tech's 77,000 members can now download statements
into personal financial management applications,
such as Quicken® and Microsoft® Money.
"We were looking for an Internet solution
that had OFX as its core competency to augment
our industry-leading Internet banking
service," said Mike Scheuerman, business
technology officer at First Tech Credit Union.
"Corillian has been in the OFX business for
a long time. Corillian was the only company that
could provide us the level of service that we
wanted in an OFX solution. Our members have been
asking for a way to integrate all of their
financial information into one, easy to read
view. Voyager's OFX capabilities will allow us to
provide that service to our members."
Royal Credit Union, a $500 million credit union
located in Eau Claire, Wis., will provide
Voyager's Consumer Banking Suite to its 90,000
members. Through Voyager, Royal CU, a community
credit union serving a four-county area in
Wisconsin, will give members secure access to
current account balances, transaction details,
transfer of funds information, the opportunity to
pay bills, the ability to selectively market
services and lay the foundation for future
electronic bill presentment capabilities.
"Corillian's Voyager was the only solution
in the marketplace that was able to integrate
with our legacy system and provide advanced
marketing capabilities based on an extensive
review performed by Solutions Oriented
Systems," said Dave Carlson, vice president
- systems at Royal Credit Union. "That
integration gives us the flexibility to add new
features and functionality as we look to expand
our growing business. Corillian is also a good
partner for us because of their experience with
other credit unions like ours."
Educational Community Credit Union is a $425
million credit union with 70,000 members located
in Jacksonville, Fla. Educational Community
Credit Union was looking for a robust solution
that was user-friendly, intuitive and capable of
being deployed in-house.
"We were looking for a product that would
give us the opportunity to control our own
Internet operations," said John Hirabayashi,
president of Educational Community Credit Union.
"We wanted to provide our members with a
superior Internet banking experience, one that
would give us maximum flexibility and provide for
future growth. Implementing Corillian's Voyager
platform will allow us to build a system
foundation that can be enhanced as technology
evolves and member usage increases."
Corillian's Voyager Application Server is a
high-performance solution built on the Microsoft
Windows® NT Server operating system designed to
handle high-volume, Internet-delivered
transactions for financial service providers. The
Voyager eFinance Suite provides a link between
financial institutions' legacy host systems and
customers using OFX-enabled personal financial
management software and browser-based (HTML)
interfaces. Corillian products are delivered with
proven project management and professional
services, ensuring a quality implementation.
About Corillian Based in Beaverton, Ore.,
Corillian Corporation is an award-winning
provider of eFinance-enabling software for the
financial services industry. Corillian
applications support Internet banking, bill
delivery and payment, brokerage, targeted
marketing, enhanced data aggregation, and small
business transactions through the Voyager
eFinance Suite. This suite can be deployed
on-site at the financial firm or at a secure data
center. Corillian technology also enables Open
Financial Exchange (OFX) access by personal
finance management software packages such as
Quicken® and Microsoft® Money. For more
information on Corillian Corporation, visit the
company's Web site at www.corillian.com.
# # #
Matters discussed in this release may include
forward-looking statements that involve risks and
uncertainties, and actual results may be
materially different. Factors that could cause
actual results to differ include the risk that
Corillian encounters significant delays or
problems in installing its solutions at the
credit unions referred to in this release, that
Corillian's platform does not effectively
interface with future applications, that
consumers do not increasingly demand
Internet-based financial services or that
additional applications for the Voyager platform
are not developed or marketed successfully. Other
risks include those stated in Corillian's reports
and other documents filed from time to time with
the Securities and Exchange Commission including
Corillian's Form 10-Q for the quarter ended June
30, 2000.
For more information (press only), contact: Steve
Shaw Corillian Corp. e-mail: sshaw@corillian.com
Phone: (503) 277-1133
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