Business Services Industry
Travelers Express will expand home banking/bill payment services with addition of MicroSoft Money 97
Business Wire, Sept 30, 1996
MINNEAPOLIS--(BUSINESS WIRE)--Sept. 30, 1996--Travelers Express Company, Inc., will expand its home banking and bill payment services with the addition of the Microsoft(R) Money 97 personal financial management software package.
The two companies recently signed an agreement which will allow Travelers Express to offer its customers an integrated personal finance/home banking/bill payment service.
Travelers Express will support the Open Financial Connectivity (OFC) specification, which offers financial institutions "plug and play" connectivity to Microsoft Money. The company will roll out these new service options to its financial institution customers by early 1997. Bill payment transactions will still go through Travelers Express for processing.
Travelers Express entered the home banking and bill payment field with the purchase of Milwaukee-based PayMate last fall. The company has made extensive investments in systems upgrades for the business, and moved the operation to Minneapolis in May. Today, it has more than 300 home banking/bill payment customers.
"We are pleased to have Travelers Express support our new OFC specification," said Matt Cone, business development manager, Desktop Finance Division, Microsoft. "By offering connectivity to Microsoft Money, Travelers Express provides financial institutions with the means to quickly deploy a complete end-to-end solution, thereby accelerating the availability of electronic banking services to current and future users of Money."
Microsoft Money is the easiest, most intuitive way to manage financial tasks on the personal computer. Microsoft Money users will be able to do their banking and bill payment electronically, any time of the day or night, using their home PC. Microsoft(R) Money 97 provides customers with free downloadable stock quotes and access to the MoneyZone, Money's World Wide Web site that contains up-to-date news, information and access to customer support services for Money.
Travelers Express is a leading provider of payment transaction services to the financial institution and retail markets. Last year, the company processed over 750 million transactions valued at close to $85 billion. The company is a subsidiary of Viad Corp (NYSE:VVI) based in Phoenix.
CONTACT: Viad Corp, Phoenix
Nancy Dedera, 602/207-5338
or
Travelers Express Company, Inc., Minneapolis
Cathy Rebuffoni, 612/591-3335
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