Corillian releases online corporate banking system

Source: Corillian Corporation

Corillian Corp. (NASDAQ: CORI), the top provider of online banking solutions to leading financial institutions, today announced the availability of its next generation corporate online banking solution, built on the industry-leading Corillian Voyager platform. Corillian Corporate Banking addresses the unmet needs of financial institutions within the corporate banking market today; namely, the need to seamlessly deliver integrated, real-time corporate banking services within a highly user-friendly experience.

"The biggest issue banks face today within online corporate banking is wringing revenue and profit out of overly complex infrastructure," said Maggie Scarborough, senior analyst at Financial Insights, an IDC company. "New architecture will overlay the old, unlocking revenues through data access, collaboration and communication. Next generation online retail and cash management vendors like Corillian will play key roles in delivering the new integrated banking enterprise."

"As financial institutions look to gain greater effectiveness in online corporate banking, many are finding that their existing solutions consist of multiple delivery systems using incompatible technologies and standards, resulting in a patchwork of technology that in the end creates higher costs," said Chuck Drake, vice president of marketing at Corillian. "In addition, financial institutions are looking for next-generation online solutions designed to better serve their corporate banking customers by providing real-time access to a broad range of services in a seamless customer experience. Corillian Corporate Banking addresses these issues head on."

Key to Corillian Corporate Banking is Corillian's proven ability to seamlessly integrate with multiple disparate systems and complex environments at some of the world's largest financial institutions, including five of the top 10 U.S. banks. Corillian Corporate Banking also leverages Corillian's domain expertise in providing intuitive and easy-to-use online banking solutions to some of the world's most innovative financial institutions, incorporating many usability standards and best practices that allow financial institutions to deliver a competitive advantage in servicing their corporate customers.

Key features within Corillian Corporate Banking include:
  • Information Reporting – Real-time access to a complete view of account summary detail, image-enabled intraday reporting for lockbox and controlled disbursements, as well as intraday reporting for ACH, wire, foreign currency rates and Electronic Data Interchange (EDI).
  • Deposit/Loan Management – Integrated management of information for deposits and loans, stop payments, account transfers and positive pay
  • Domestic Payments – Delivery of ACH and Wire transfers and electronic bill payments, including universal money movement, as well as automated sweep instructions
  • Global Trade Services – Allows for interface to cross-border and international ACH and wire transfers, foreign exchange and letters of credit
  • Enterprise Administration and Notifications - Allows corporations to delegate authority and access to employees based on their roles and responsibilities within the organization. Proactive notifications keep managers informed of financial conditions, improving the efficiency of the time-critical cash management process.
  • Customer Care – Self-service and help functions for changing billing addresses, friendly account names, previewing bank e-statements and account analysis statements.
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