Portland, OR & New York, NY - November 19, 2003 —Corillian Corp. (NASDAQ: CORI), the top provider of online banking solutions for leading financial institutions, and CashEdge, (www.cashedge.com) a provider of secure Online Money Movement and Advanced Account Aggregation platforms, today announced the expansion of the companies' strategic partnership. Corillian will integrate CashEdge's Online Money Movement, Inter-Institution Transfer, and Pay Anyone services into the industry-leading Corillian Voyager Internet banking platform; including applications for Consumer Banking, Small Business Banking, Corporate Cash Management and Credit Card Management.
Charter One, a $44 billion bank holding company headquartered in Cleveland , Ohio , will be the first customer to deliver the integrated online money movement capabilities to its retail and small business customers.
"With the combined solution from Corillian and CashEdge, we expect Charter One will continue to extend its leadership in online banking," said Mike Dobbins, senior vice president, direct banking at Charter One. "This new capability will ensure us a competitive advantage - by offering account aggregation, bank-to-bank transfer functions and pay-anyone services - completely integrated into Charter One's unique, differentiated online banking experience."
Corillian and CashEdge first entered into a strategic partnership in November 2002 to offer CashEdge's Advanced Account Aggregation platform as part of Corillian's OneSource Register (OSR) aggregation and online register application on the Corillian Voyager platform. This expanded agreement will build on the payments capabilities within the Corillian Voyager platform to deliver a complete set of secure online payment options including single-session new account opening and funding, inter-institution money transfer, and "pay anyone" email payments, all through an innovative and enhanced user interface.
"The ability for online banking users to seamlessly transfer money and have the flexibility to pay anyone electronically is becoming must-have functionality for leading financial institutions," said Alex Hart, president and CEO of Corillian. "Charter One is a prime example of an aggressive financial institution that is looking to not only set the standard for online banking, but to continue raising the bar. Augmenting our relationship with CashEdge will accelerate our delivery of these advanced online banking services to Charter One and other leading financial institutions."
" Corillian is a leader in serving large financial institutions ," said Sanjeev Dheer, CEO of CashEdge " Our selection as their strategic partner is a tremendous endorsement of our technology and a great opportunity for our company to serve Corillian's numerous financial institution clients."
About Corillian Corporation
Corillian is the top provider of online banking solutions for leading financial institutions. Empowered with Corillian solutions, some of the world's most visionary financial institutions provide their customers with the tools to manage their finances more effectively.
Corillian's solutions are unmatched in reliability and performance, and successfully scale at some of the world's largest financial institutions. Corillian's proven solutions enable financial institutions to deliver innovative services enterprise-wide, across multiple delivery channels and multiple lines of business. The Corillian Voyager platform provides secure and scalable account access and transaction processing for a wide variety of applications built by Corillian's expert software developers, by Corillian-certified partners, and by the in-house development organizations of some of the world's best financial institutions. For more information about Corillian Corporation, visit the company's Web site at www.corillian.com.
CashEdge® provides innovative, online financial applications to banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer, small business payments and invoicing, and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities.
CashEdge has been ranked by Inc. Magazine as one of the 500 fastest growing private companies in the United States for two years in a row. In 2007 it was also recognized by the 2007 Deloitte Technology Fast 500 and Fast 50 as one of the nation's 500 fastest growing private companies and one of the 50 fastest growing companies in the New York area, respectively. The company currently serves hundreds of leading financial institutions including four of the top five banks, 23 of the top 100 banks, and 20 of the top 100 credit unions. CashEdge has offices in New York, Silicon Valley and India. For more information, please visit www.cashedge.com.
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