Tech Industry

BroadVision supports Net banking

The e-commerce software firm is shipping new software to let financial institutions offer online banking, stock brokerage, and financial transactions.

E-commerce software firm BroadVision (BVSN) today shipped new software to let financial institutions offer online banking, stock brokerage, and financial transactions, a booming market, particularly outside the United States.

One-To-One Financial WebApp, a packaged financial application that requires customization to each institution, runs on BroadVision's One-to-One e-commerce platform. It also includes BroadVision's personalization features to tailor content and account information to a specific customer and allows customers to handle many financial transactions online.

"This is an application that increases the opportunities for cross-selling, up-selling, and customer retention," BroadVision's Sammir Mehta said. "For a bank's customers, it means fewer mouse clicks--you are not seeing the same information as everyone else."

BroadVision has sold the software to three banks in Spain--Argentaria, Banco Santander, and BankInter--plus Singapore's DBS Bank.

One-To-One Financial includes a set of preconfigured objects, templates, and business rules, to speed deployment by financial services companies. It offers portfolio statements and management, fund transfers, applications for new accounts, online customer service, and can send email alerts for account activity, stock news, and transactions. It also offers transaction histories for checking, savings, credit card, mortgage, mutual fund, stock portfolio, and retirement accounts.

Online banking has taken off more rapidly outside the United States, giving an advantage to companies with a global network of offices and resellers like BroadVision. Other companies marketing online banking software include Edify, Canada's Quadravision, and Security First Technologies, a division of Security First Bank.

BroadVision's financial application supports multiple security protocols, including SSL (secure sockets layers), digital certificates, SET (Secure Electronic Transactions), and encryption.

In addition to its own consultants, BroadVision works with systems integrators with specific knowledge of the financial services market, including Andersen Consulting, Cap Gemini, Japan's NTT Data, and Price Waterhouse.

BroadVision expects to release a new application for online publishing companies by March 1998. The financial application starts at around $150,000, including the cost of the BroadVision's base One-To-One platform software.