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For more information: Melissa Beck
Edelman PR Worldwide
312/240-3376
melissa.beck@edelman.com Business Logic Creates Alliance Program For New Net-Finance Suite
CashEdge, DirectAdvice, FinanCenter®, Financial Engines, MoneyTools, mPower, and StatiaFX Join Business Logic's
e-finance Revolution - Business Logic Corp., an e-finance infrastructure provider for the financial services market, today announced its initial complement of alliances for its new Net-Finance Suite, an integrated family of software that enables financial institutions to create a multi-layered, multi-party infrastructure of personal and institutional Web services and applications. CashEdge, DirectAdvice, FinanCenter, Financial Engines, MoneyTools, mPower and StatiaFX have formed alliances with Business Logic and indicated their plan to integrate with the Net-Finance Suite. For specialized e-finance companies, the Alliance Program represents an opportunity to expand their market reach. By integrating their applications with Net-Finance Suite, service providers can rapidly partner with financial institutions to serve their online customers. Net-Finance Suite enables them to integrate once and be connected to many potential institutional clients. Financial institutions that integrate to Net-Finance Suite can rapidly integrate with multiple partners with minimal systems integration effort. It allows financial institutions to easily plug into any one of the initial partners, which in turn decreases their time to market for new and enhanced products. Financial institutions can also adapt to changing market conditions and customer demands faster than they normally could if they had outsourced or built their own services instead of partnering. "The e-finance customer is demanding a wide spectrum of specialized services," said Dirk Quayle, Executive Vice President of Business Logic. "Many institutions do not have an all-inclusive in-house menu of financial services, therefore a customer can easily find a service provider elsewhere on the Internet. To retain a customer's business, financial institutions must build networks of value-added partners and connect their customers to them seamlessly. Our Alliance Program is designed to identify and connect these best-of-breed specialists with their institutional partners."
Net-Finance Suite is designed to let institutions keep control over their aggregated data, customer and partner relationships by building this capability within their IT infrastructure. As a comprehensive new e-finance solution, the Net-Finance Suite lets financial institutions offer their customers a menu of secure best of breed services tailored to their needs. Unlike application service providers, Net-Finance Suite gives financial institutions the power to harness all of its customers' data, regardless of where it resides, within the institution rather than having the data stored at an aggregator. Business Logic developed Net-Finance Suite for institutions looking to buy and design multiple levels of seamless application aggregation, build stronger e-finance applications, and facilitate the creation and management of e-finance partner networks. Each of the initial Alliance Program participants represents an established leader in its respective market. - CashEdge
CashEdge is the only company to offer Transaction-enabled Aggregation, combining the power of financial information aggregation with Funds Transfer capability. - DirectAdvice
DirectAdvice has created and licenses a customizable, Web-based financial planning and advice platform that enables financial institutions worldwide to help all their customers achieve their financial goals. - FinanCenter
FinanCenter provides TransMetric Tools worldwide that promote sales transactions and collect metrics such as consumer behavior and demographic data. - Financial Engines
Financial Engines offers its Wealth Management Platform to help corporations and financial institutions offer consistent personal advisory services to individual investors through the Web, phone, and face-to-face. Financial Engines is a federally registered investment advisor. - MoneyTools
MoneyTools, an operating unit of NumeriX, distills investment information into actionable financial analysis and advice and provides an opportunity to interactively monitor, optimize and automatically manage investment portfolios based on an individual's asset and risk preferences. - mPower
A registered investment advisor, mPower was the first to offer affordable, objective, and actionable online investment advice to defined-contribution plan participants, and remains the leader in this field. - StatiaFX
StatiaFX provides eFinance solutions that allow financial institutions and advisors to integrate personal financial data, information and advice on a single platform for their clients.
"The firms who have chosen to integrate with the Net-Finance Suite are the best of the best," said Business Logic CEO and President John Patterson. "These firms offer the financial consumer an array of powerful tools to enrich their online experience. Financial institutions using Net-Finance Suite will be able to quickly build a business partnership with these firms and offer their services to their customer base. Together they form a powerful combination."
There are several crucial elements Business Logic has built into the Net-Finance Suite that are primary concerns financial institutions have when choosing its infrastructure. Net-Finance Suite:
- Aggregates data from multiple sources
- Provides one-stop access to accounts from multiple institutions
- Presents a unified interface across applications
- Facilitates a seamless experience between applications and alliance program participants with a single sign-on
- Enables the ability to offer transactions and financial advice among participants
- Maintains a tested, superior level of security
The Net-Finance Suite architecture includes:
Net-Finance Exchange retrieves and aggregates a broad array of financial data for consumers and distributes the data, metadata and business rules throughout a financial institution and across its network of alliances. Exchange includes message routing, data and message security, institution-wide user profiles and centralized facilities for asset classification, partner management and other shared resources.
A proven software solution that standardizes access and messaging of data and business rules between financial accounting systems and Web-based user interfaces. Net-Finance Application Link provides a standard XML-based API for all applications and enables single sign-on across a network of application sessions. Business Logic refers to this as Application AggregationTM. Net-Finance Data Link provides a standard interface to back end data stores and external data sources. The Net-Finance Link solution is currently used to provide online services for more than 12 million accounts.
Net-Finance Application Solutions are software application components designed to integrate with and take advantage of the data and resources provided by Net-Finance Exchange and Link. These Solutions include Application Framework, Portfolio Solution, Wireless Solution and 401(k) Solution.
Business Logic Corporation is an e-finance infrastructure provider for the financial services industry, enabling the next generation of Web financial services with its Net-Finance Suite. Net-Finance Suite is an integrated family of software products, including Net-Finance Exchange, Net-Finance Link and Net-Finance Application Solutions, each enabling financial institutions to create a multi-layered, multi-party environment of personal and institutional Web services and applications. Since 1996, privately held Business Logic has provided software and services to the leaders in the e-finance revolution including five of the top 10 banks and four of the top 10 mutual fund providers. Investors in Business Logic include Goldman Sachs, e-financeworks LLC, and S1 Corporation. For more information, contact us at 312.264.7000, info@businesslogic.com or visit www.businesslogic.com.FOR MEDIA: A Net-Finance Suite visual is available upon request.
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