Microsoft Corporation has launched a new online personal financial management tool based on Internet Explorer at the BAI Retail Delivery 2001 Conference in California.
Money Explorer combines Internet Explorer with several of Microsoft's personal financial management tools from both the MSN Money Web site and Microsoft Money software to enable financial institutions to deliver next-generation online functionality to their customers.
Financial institutions can use Money Explorer - which is built on an open platform - to customise and brand the Web browser, including institution-specific layout, navigation and design. In addition, banks are able to integrate their own content into the browser platform.
Specific features of the new Microsoft offering include:
* a customisable home page to enable customers to select the content, features and functionality, including personalised financial priorities and daily to-do lists, that best meet their individual banking needs;
* instant account updates so that customers can easily access their current financial information, view their latest transactions and quickly pay their bills; and
* an array of in-depth planning features and tools, including the ability to forecast cash flow, create and maintain a budget and plan for retirement.
Money Explorer also implements Open Financial Exchange (OFX) technology, enabling the direct exchange of financial information via the Internet to support a wide range of financial activities - including consumer banking, and bill payment and presentment - within the browser.
With direct links to the financial institution's Web site, as well as MSN Money, Money Explorer also allows customers to easily access the latest financial news and information.
Microsoft has signed an agreement with Corillian Corporation under which Corillian will be a preferred reseller and integrator for Money Explorer. The Oregan-based vendor will provide customisation and integration services with its Voyager 3.0 Internet banking platform.
Ted Spooner, CEO of Corillian, comments: "The combination of Microsoft Money Explorer and Corillian's Voyager platform and its accompanying applications...allows consumers to manage their finances wherever, whenever and however they choose. We call this 'Banking at the Speed of Life.'"
Corillian is also planning to implement Microsoft's subscription-based financial management service, currently code-named "MSN Money Professional," into its Voyager platform for financial institutions. The new service will combine select Microsoft .NET My Services with secure document publishing, portfolio reporting and financial content from the MSN Money Web site to deliver the customer communication tools advisers need, say the companies.