The new Internet investment darling of Wall Street, Edify, announced new software today designed to give financial institutions the ability to provide automated banking services via the Internet.
Dubbed the Electronic Banking System, the Web banking program gives the banks the tools to provide home banking, including account balance inquiry, funds transfer, account statement review and transaction reports. It also allows billing mechanisms, including payee administration, scheduling, and other features. The systems relies on the use of telephones, fax, and personal financial management software, as well as connections to Web sites.
EBS will be available to banks this summer. Banks can expect to pay at least $195,000 for the application and implementation services.