REDMOND, Wash., Nov. 18, 1996 — With banks offering Internet banking services in ever increasing numbers, Microsoft Corp. today announced the availability of Active Statement Technology which enables web banking users to automatically read and reconcile their banking statements directly into Microsoft® Money 97 . Wells Fargo Bank is the first major institution to agree to offer Active Statement Technology to its customers through Wells Fargo Online, its Internet-based online banking and bill payment service. In addition, 31 community banks and credit unions are now implementing Active Statement Technology in their web sites today, through processing relationships with Digital Insight and Online Resources & Communications Corp.
“Active Statement Technology is the best way today to integrate Internet banking with personal finance software,”
said Gailyn Johnson, senior vice president of Online Financial Services at Wells Fargo Bank.
“Our customers who use Microsoft Money 97 will be thrilled with this straightforward way to keep track of their finances when banking on the Internet.”
Active Statement Technology enables the Internet banking customer, with one click of the mouse, to download a bank or credit card statement directly from the bank web site into Microsoft Money 97, reconcile the statement, and even categorize the transactions for budgeting and financial planning purposes. Active Statement Technology uses the widely supported Open Financial Connectivity (OFC) file format to remove the pain and hassle associated with traditional bank statement downloads based on the Quicken Import Format (QIF). QIF downloads require multiple steps, do not support reconciling and balancing with existing transactions, and will enter duplicate transactions in your personal finance manager if downloaded more than once.
“Active Statement Technology and Microsoft Money offer Internet banking customers a tremendous value-add”
, said Lewis Levin, vice president, desktop finance division.
“Many consumers are interested in using their PCs for Internet banking, but also for financial record keeping, budgeting and planning purposes – now with Active Statements, this combination is possible.”
Microsoft has teamed with Digital Insight and Online Resources in launching Active Statement Technology through 32 of the 46 financial institutions currently offering online banking services via the Internet.
“Active Statement Technology offers a great value-add to our Web-based home banking system, AXIS”
, said Paul Fiore, president of Digital Insight,
“We are pleased to offer greater compatibility with Microsoft Money 97 through the 28 sites we provide Internet home banking services for today.”
“As the only provider today of real-time bill payment solutions on the Web, Online Resources believes Active Statement Technology will greatly enhance the Internet home banking experience,”
said Ray Crosier, senior vice president, Online Resources.
“With this technology, consumers who pay bills while at the Web sites of our institutions can easily transfer those transactions into Microsoft Money for tracking, budgeting and analysis.”
The financial institutions offering Active Statement Technology include:
Founded in 1975, Microsoft (NASDAQ
) is the worldwide leader in software for personal computers. The company offers a wide range of products and services for business and personal use, each designed with the mission of making it easier and more enjoyable for people to take advantage of the full power of personal computing every day.
Digital Insight is a developer of real-time, Internet-based services for financial institutions including AXIS, a Web-based home banking system for financial institutions. Digital Insight has more than 50 financial institutions committed to providing the AXIS on-line banking service to their customers. Along with Internet home banking services, it provides Web site creation, maintenance and server hosting facilities for more than 100 financial institutions throughout the country.
Online Resources specializes in providing home banking, real-time bill paying, investment and other financial services to financial institutions for resale under their own brand to consumers and small businesses. Online’s clients include banks, brokerages, credit unions, ATM networks and other financial service providers. Currently, Online has 50 institutional clients.
Microsoft is either a registered trademark or trademark of Microsoft Corp. in the United States and/or other countries.
For more information press only:
Thad Westhusing, Microsoft Corporation (206) 936-9885, [email protected]
Matthew Cone, Microsoft Corporation (206) 703-3567, [email protected]
For information on how to implement Active Statement Technology:
For sales information:
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