THE LAURENTIAN BANK LAUNCHES MYTOTALPICTURE.COM, a Value-Added Account Aggregator Service
Montreal, Canada – February 14, 2002 —The Laurentian Bank of Canada today launches a
new leading-edge aggregator service for bank and financial accounts on the Internet; MyTotalPicture.com. After having been the first financial institution in Canada to announce its involvement in such a project a year ago, the Laurentian Bank continues to innovate with this service that offers its clients, in a user-friendly environment, many characteristics and features including a customized consulting service. This new account aggregator was introduced today during simultaneous press conferences in Montreal and Toronto. During the launch, media representatives attended a live demonstration of the many features that this service offers. "The Laurentian Bank has adopted, with great conviction, a clearly defined client-centric focus and as a result, we are developing a comprehensive offering of real value-added products and services that meet client expectations and needs, any time anywhere through the Internet" said Mr. Henri-Paul Rousseau, President and Chief Executive Officer, Laurentian Bank of Canada, during the press conference. "The financial accounts aggregator is part of this approach which allows the Bank to be on the cutting-edge of its sector with a set of unique and innovative financial services in Canada."
Real Value-added for Clients
This service enables the client to gather, on a single web page, information from one or all of its online accounts from various financial institutions. In addition to checking, saving, credit card, brokerage and home loan accounts, MyTotalPicture.com also offers data on mutual funds, Guaranteed Investment Certificates (GICs), RRSPs, term deposits and, of course, customized consulting services. Not only does the technology enable the clients to select which accounts to include, to gather the account information in a single place and at a glance, but also allows the clients to receive advice customized according to their particular situation and needs. In fact, a personal advisor can, at the client's request and convenience, provide an analysis of their financial situation and recommend an appropriate strategy for their profile.
MYTOTALPICTURE.COM offers a number of features and possibilities to address the needs of every type of client, from the individual investor to the client holding assets in many different financial institutions (banks, non-banking financial institutions, brokerages, investment firms) to the person seeking personalized financial advice. "The Laurentian Bank of Canada is committed to building this new portal because we are convinced that it provides real value-added for our clients", stated Mr. Rousseau. To sign up for this new service, the client selects a personalized user name and password. The client can choose from two options: the preferred service, which includes Laurentian Bank's customized consulting service, or the basic service, which is transaction-based.
Gradual Deployment
The inauguration of this new service will proceed as part of a gradual deployment strategy, an approach that will allow the Bank to expand the service as it will develop more features to offer new options to its clientele. The initial users will be clients who already use the Bank's web site as a financial management tool.
An Experienced Approach
The technology rests on highly secure protocols already in use by the Bank. This technology ensures restricted access to critical information and applies a total risk management process that includes the identity verification, account validation and transaction limits. By offering a practical new service built on user-friendliness and ease of use, the Laurentian Bank is pursuing a strategy its clients will appreciate. With this in mind, in 1988, the Laurentian Bank launched the "Super Statement", which allowed its clients to gather all their assets on one single page. The account aggregator is therefore the natural extension of the "Super Statement" already available online through the LBCDirect web site.
Founded in 1846, Laurentian Bank ranks seventh among Canadian Schedule 1
banks, with assets of more than $17 billion. The Bank offers highly competitive products and superior personalized service to meet the banking and financial needs of individuals, small and medium-sized businesses, and independent financial advisors. The Laurentian Bank's common shares (stock symbol: LB) are listed on the Toronto Stock Exchange. Laurentian Bank's web site may be found at www.banquelaurentienne.com.