InteliData Technologies Corp. today announced that financial institutions who purchase the Interpose OFX server will be provided a free upgrade to the converged OFX/GOLD standard, which is expected this summer.
InteliData Chairman William F. Gorog applauded the action taken by the leadership of the proponents of the OFX and GOLD standards. “This action taken by the Banking Industry Technology Secretariat (BITS), Integrion, IBM, Microsoft, Intuit and CheckFree, removes one of the last obstacles confronting financial institutions anxious to implement home banking systems.”
Last month InteliData announced that its Interpose OFX server had been fully certified by Microsoft and Home Financial Network to support a full feature set of home banking transactions, including balance inquiry, statement download, bill payment, and customer e-mail. Financial institutions can now install the Interpose OFX server to accommodate current Microsoft Money and Home Financial Network’s Home ATM users and any other customer devices, such as Web TV, which utilize the OFX standard with the assurance that the server will be upgraded to accommodate any changes required by the convergence of the OFX and GOLD standards later this year.
InteliData President and CEO John Backus, commenting on the action, said, “Combining the flexibility of Windows/NT with the power of the IBM mainframes permits banks to begin serving their customers with an inexpensive solution, and capacity can easily be added as customer volume increases. The component architecture allows banks to offer an OFX solution in under 100 days for under $100,000.”
Interpose OFX offers banks a turnkey solution today to support home banking via the Internet, Microsoft Money and HFN’s Home ATM. InteliData’s solution will also support other products that will implement OFX in the near future. Interpose OFX is easy to install and implement at a financial institution since it comes complete with “off-the-shelf” software tools that minimize custom development. The product includes tools to support message management and routing, message translation, integration to legacy information systems, data warehousing, synchronization, logging, and account administration. Independent development of these components could take up to 90 work months.
InteliData, with headquarters in Herndon, Va., is a leading supplier of home banking software with over 20 of the top 100 U.S. financial institutions as customers. The Company’s products include the Interpose Financial Engine, Interpose Payment Warehouse, Interpose OFX, Interpose EBMS, and MoneyClip, the smart card-based Internet security solution.Details