REDMOND, Wash., Dec. 2, 1997 — Microsoft Corp. today announced the availability of the Microsoft® Internet Finance Server Toolkit (MIFST), formerly code-named
at the Bank Administration Institute (BAI) Retail Delivery Conference in New Orleans.
MIFST is a platform based on the Windows NT® Server operating system for delivering Web-based financial services compatible with the Open Financial Exchange (OFX) specification. Financial institutions that build their Web platforms using MIFST enable their customers to pay bills, check account balances, transfer funds and view banking and brokerage statement information online.
The announcement follows a successful three-month evaluation and testing period with more than 100 solution providers and financial institutions around the world, including CoreStates Bank N.A., PaineWebber Inc. and Wells Fargo.
“The MIFST users who participated in our beta program say the toolkit makes building an online financial services site much easier,”
said Lewis Levin, vice president of the desktop finance division at Microsoft.
“Their tremendous response confirms the value of the cost-effective, industry-supported tools that Microsoft offers for online financial services.”
Other financial institutions currently embracing the MIFST platform include Ameritrade/AccuTrade, Nationwide Building Society in the United Kingdom, and Bayerische Vereinsbank, the second-largest bank in Germany. Solution providers implementing the toolkit include ADP Financial Information Services, Andersen Consulting, Applied Communications Inc., Edify Corp., Ernst & Young LLP, First Data Corp., InteliData, M & I Data Services and Unisys Corp.
“We are impressed with the value and functionality of MIFST,”
said Joel Molyneaux, vice president of electronic commerce at Crystal Clear Technology Inc.
“It is a key component of our i24 Internet Banking product. i24 utilizes MIFST to support OFX-based clients, such as Money and Quicken, and will be marketed in conjunction with BASE24 from our sister company, Applied Communications, to provide Internet banking solutions for large financial institutions.”
Helping Financial Institutions Help Their Customers
As financial institutions search for ways to deliver banking and brokerage services to their customers cost-effectively via the World Wide Web, MIFST provides the core functionality financial institutions need to build transactional Web sites.
Financial institutions that use MIFST enable their customers to access financial data using browsers such as Microsoft Internet Explorer or Netscape Navigator. In addition, customers are able to use software compatible with OFX, including Microsoft Money, Microsoft Investor, Quicken, Home Financial Network products and Peachtree Accounting.
MIFST components address data integrity and scalability concerns associated with building an online financial services site. MIFST requires Windows NT Server 4.0 and Microsoft SQL Server
™6.5 and interoperates with all elements of the Microsoft Backoffice® platform. To address common security concerns associated with online financial services, MIFST components support 128-bit encryption and work with major firewall packages.
Web site authoring is made easier through the MIFST Web Development Toolkit, which provides Web server components, sample code and a sample site that developers can use
“out of the box”
for quick, accessible functionality, such as viewing online statements, transferring funds, paying bills online and secure sign-on. The Web Development Toolkit it is designed to work with Microsoft Site Server.
Finally, Web developers can rapidly develop and test an attractive, fully functional, branded site by using the Microsoft Visual InterDev
Web development system to modify the sample site and sample code (both stored as a Visual InterDev project) and incorporate financial institutions’ branding data and custom scripting.
Pricing and Availability
MIFST costs $9,999. A special version of MIFST for solution providers is available for $2,000.
The toolkit can be acquired through the following channels:
An authorized reseller. Interested parties can provide the reseller with the following number and product description: 861-00001 Internet Fin Svr Toolkit 1.0 for Win NT English NA Direct CD. The reseller will place an order, and the toolkit will be shipped directly from Microsoft. Authorized resellers can also obtain the MIFST product number via the Microsoft Infobase or the MIFST Web site http://www.microsoft.com/industry/finserv/mifst.htm .
An authorized reseller via the Microsoft Open License Program. Open License Program participants can qualify for volume discounts based on the number of MIFST licenses acquired.
Microsoft Product Integration Program (Embedded Licensing Program). Solution providers and ISVs can integrate and resell Microsoft products with value-added solutions through the program’s standardized Product Integration Agreement and existing product distribution channels.
Additional information regarding MIFST’s availability, terms and conditions, and licensing process is provided on the MIFST Web site or the Microsoft Infobase.
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