Sybase (NYSE:SY), a leading provider of enterprise infrastructure and mobile software, today announced that Sybase and Andera, the industry's most integrated, comprehensive, and proven online account opening solution, have entered into a strategic partnership that will expand Sybase's Internet banking functionality to include integrated online account opening.
Through this partnership, Sybase banking platform will allow its customers to reduce account opening costs by adding the Internet as a new, alternate channel. Many banks are using integrated account opening in support of deposit generating campaigns in order to facilitate the account opening process for new customers. The online account opening and funding channel is fully compliant with the USA Patriot Act and other applicable regulations. For Andera, the alliance will open up yet another channel of distribution for its industry leading solution.
"Partnering with Andera enables new and existing Sybase customers access to an integrated solution for online account opening and funding," said Andrew Mikesell, Sybase eCommerce Product Director. "Integrating Andera's solution into the banking product suite allows our customers to increase their deposits while virtually extending their competitive footprints through the online channel into markets where they currently do not compete. This is one more step towards Sybase's vision of the unwired enterprise."
"Sybase Financial Fusion's customers are among the largest and most progressive financial institutions in the world," said Charlie Kroll, CEO of Andera. "By bringing together Andera's online account opening and funding platform with Sybase Financial Fusion's Internet banking platform, these financial institutions gain access to a truly world class combination."