Wachovia Selects Corillian for Next-Generation Online Banking Platform; Corillian to Deliver Best-in-Class Online Banking Platform, Applications and Services

Business Wire,  July 7, 2004  

Tags: Corillian Corp., online banking, Wachovia Corp.

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PORTLAND, Ore. -- Corillian Corp. (Nasdaq:CORI), the top provider of online banking solutions to leading financial institutions, today announced that Wachovia Corporation (NYSE:WB) has selected Corillian Voyager and Corillian Consumer Banking as the foundation for its next-generation online banking solution. Corillian will build on the success of Wachovia's industry-leading online banking services, delivering new and innovative applications to Wachovia's more than 4.3 million online banking customers.

With the implementation of Corillian Voyager, Wachovia will have the industry's most scalable, flexible and cost-effective online financial services platform. This platform will also enable Wachovia to rapidly deploy leading online financial services applications, including Corillian Consumer Banking, which is widely recognized as the retail online banking solution of choice among top financial institutions. Corillian Consumer Banking will provide Wachovia with the capability to deliver one of the most feature-rich and easy-to-use online banking experiences available. Corillian Voyager and the Corillian Developer Network will also provide Wachovia with the ability to seamlessly integrate its online banking system with other enterprise-wide applications to give customers a complete set of tools for managing their financial lives online.

"We are moving to a new Internet banking platform to meet the demands of an increasing customer base and a rise in transaction volumes," said Lawrence Baxter, EVP, chief eCommerce officer at Wachovia Corporation. "We are extremely proud of our online banking initiatives to date and the recognition they have received, but we concluded that we needed to find the right partner to take our online banking services to the next level. After an in-depth analysis, we concluded that Corillian emerged as the best partner for us due to their extensive track record of working with financial institutions of our size and complexity to deliver world-class online banking solutions."

"This partnership with Wachovia serves as an example of the capabilities that Corillian can provide to financial institutions that are looking for better leverage in the online financial services arena," said Alex Hart, president and CEO of Corillian. "The management team at Wachovia has a long history of excellence and innovation in the online financial services business, and we are extremely pleased to have been selected to help them to build on that success. We look forward to working with Wachovia to bring next-generation online banking services to market."

About Corillian Corporation

Corillian is the top provider of online banking solutions to leading financial institutions. Empowered with Corillian solutions, some of the world's most visionary financial institutions provide their customers with the tools to manage their finances more effectively. Corillian's solutions are unmatched in reliability and performance and successfully scale at some of the world's largest financial institutions. Corillian's proven solutions enable financial institutions to deliver innovative services enterprise-wide, across multiple delivery channels and multiple lines of business. The Corillian Voyager platform provides secure and scalable account access and transaction processing for a wide variety of applications built by Corillian's expert software developers, by Corillian-certified partners and by the in-house development organizations of some of the world's best financial institutions. For more information about Corillian Corporation, visit the company's Web site at http://www.corillian.com.

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