US software supplier Corillian has opened an international office to prospect for bank clients in the UK and Europe.
Corillian's move comes at a time of large-scale consolidation in the banking industry and follows the endemic technological problems British banks have experienced in launching online banking operations. In addition to offering its proprietary Voyager e-Finance suite to European banks, Corillian International says it will also target a range of financial services institutions - including brokerages, insurance companies and portals.
Since launching in 1997, US-based Corillian has built a high profile customer base including Bank One, Citibank, Lehman Brothers Bank, SunTrust, M&T Bank, and AmSouth Bank, and developed delivery partnerships with Microsoft, ADS, Yahoo!, Perot Systems, Yodlee and 724 Solutions.
Martin Davis, managing director, Corillian International says: "In the UK, banks have been driven by pressure to deliver on-line solutions and many have launched prematurely, if at all. The consumer must have confidence in conducting banking transactions online. The proven scalability and reliability of Corillian's e-Finance solutions positions us well to deliver the online banking revolution across Europe."