Toronto and Texas-based 724 Solutions has teamed up with CashEdge to deliver a new aggregation solution for financial institutions that offers wireless accessibility, actionable alerts, and a range of customisation options for system branding and implementation.
Financial institutions will also have the option of hosting all or part of the solution themselves, and the ability to develop more extensive customer profile data. The new aggregation platform will be marketed by both companies.
John Sims, chief executive officer, 724 Solutions, says: "The combined solution includes tools and normalised data to power actionable alerts, financial advice engines, and customer relationship management (CRM) platforms - which we view as crucial for financial institutions who are looking to achieve a positive return on investment from their aggregation offering."
CashEdge's account management tool gives consumers a single view of all of their key relationship information - including account balances and transaction histories - regardless of how many financial institutions they do business with.
724 Solutions' wireless capability allows consumers to access the offering over virtually any Internet-enabled device, including digital mobile phones, personal digital assistants and pagers.
"We are seeing a dramatic increase in demand for aggregation platforms that can go beyond the basic ability to passively monitor accounts on a desktop screen. Financial institutions realise that aggregation services can be profitable, but only if they are combined with a range of other attractive features that add value and functionality in the eyes of the retail customer," says Sanjeev Dheer, chief executive officer of CashEdge.