Chase Selects TANTAU for Enterprise Wireless Platform
NEW YORK and AUSTIN, Texas November 2, 2000 The Chase Manhattan Bank, principal bank subsidiary of The Chase Manhattan Corporation (NYSE: CMB), today announced that it intends to use TANTAU Software Inc.s Wireless Internet Platform as a main component of its wireless infrastructure for the corporation. With this proven, reliable and secure technology, Chase will be able to offer its wholesale and retail customers the ability to conduct financial transactions anywhere, anytime quickly and securely over a wireless device. Chase plans to begin rolling out wireless Internet capabilities in early 2001.
Our customers deserve the best banking services available, and in todays mobile world, that includes the ability to bank from anywhere you happen to be, said Denis OLeary, head of Chase.com. TANTAUs Wireless Internet Platform is the major building block in our efforts to seamlessly integrate Chases wired and wireless online transaction infrastructure and will help provide the most secure and convenient banking experience to our customers. Chase.com, in partnership with Chase Capital Partners, is the Chase unit responsible for developing joint ventures with Internet companies and often makes strategic investments in those companies.
Once wireless enabled, Chase customers will be able to transfer data to and from any WAP (wireless application protocol)-enabled cellular phone, laptop computer or personal digital assistant using any wireless carrier. The TANTAU platform enables Chase to maintain a direct link with its customers, versus an environment in which all transactions must go through a service providers proprietary gateway, or portal. This ownership of the transaction provides Chase with many additional benefits, including an uninterrupted relationship with its customers, a secure transaction environment, the ability to develop personalized user services, and ultimately the establishment of a stronger foundation for customer loyalty.
Financial institutions, like Chase, will be the major drivers behind the adoption of wireless Internet technology in the U.S. According to a recent IntelliQuest research study, commissioned by TANTAU, certain conditions must be met before American consumers will use wireless devices to conduct financial transactions. Eighty percent of wireless device users in the study indicated they would not use wireless for financial transactions if not provided with a completely secure network through which the transaction is processed. And, 75 percent of respondents indicated they would be less likely to use wireless to connect to the Internet if personalized services were not available.
The Chase Manhattan Bank is one of the most trusted and prestigious financial institutions in the world, with a broad portfolio of financial service offerings, said John Sims, president and CEO of TANTAU. As banks and brokerages add wireless Internet services, they need scalable and reliable transaction systems to meet the anticipated m-commerce growth. With TANTAUs proven Wireless Internet Platform, which is used by some of the biggest banks in Europe, Chase will be able to offer a secure and service-rich mobile financial portal in the United States, supporting tens of thousands of users simultaneously.
Several wholesale and retail businesses within Chase plan to begin offering wireless services beginning in the first quarter of 2001. Functions will include account access, email, Web access and location based services, such as locating convenient ATMs.
About TANTAUs Wireless Internet Platform
TANTAUs Wireless Internet Platform offers specialized and interactive modules that provide enterprises with all the tools necessary to conduct mobile ecommerce transactions. Features such as proactive messaging, content conversion and profile management gives companies the ability to send, transform and personalize content to end-users via a variety of mobile devices such as cellular phones, pagers and personal digital assistants, including Palm products. The ability to control the content delivered to its customers wireless devices allows businesses to build and maintain strong customer relationships. In addition, TANTAUs technology features multiple protocol support (Wireless Application Protocol 1.1/1.2/1.3, Short Message Service, HTTP) as well as gateways for integration with back-end applications and data sources. It also addresses the most critical requirements for high-volume Internet transactions: scalability, availability, transaction integrity and security.
Chase, with $426 billion in assets, is one of the worlds premier financial services institutions, with operations in more than 50 countries around the world. Chase has top-tier rankings in many areas of investment banking, asset management, private banking, trading and global markets activities as well as information and transaction processing. Chase is a leading provider of financial solutions to large corporations, government entities, commercial banking clients, small businesses and individuals, and has relationships with more than 30 million consumers across the United States. Chase can be reached on the Web at www.chase.com.
TANTAU Software Inc. is a global provider of software and professional services that enable enterprises to conduct high-volume, secure, mobile ecommerce transactions while maintaining direct access to their customer. TANTAUs blue-chip customer base includes major financial institutions and stock exchanges around the world including The Chase Manhattan Bank, Credit Suisse, SEBanken and MeritaNordbanken. Strategic alliances include Nokia, Hewlett-Packard, Compaq, NEON Systems, BEA Systems and Baltimore Technologies. TANTAU is a member of the WAP Forum and Radicchio, the global industry consortium that promotes security for wireless ecommerce. Headquartered in Austin, Texas, TANTAU is a global company with development and sales offices around the world, including Australia, Finland, Germany, Japan, the Netherlands, Switzerland, the United Kingdom and the United States. More information can be found on TANTAUs Web site at www.tantau.com.
TANTAU is a trademark or registered trademark of TANTAU Software International, Inc. All other company and product names may be trademarks of the respective companies with which they are associated.
TANTAU Brooke Bulow (512) 306-4206 [email protected]
Lois Paul & Partners Misty Zelent (512) 638-5315 [email protected]
Chase Kathleen Kenney Lucente (212) 270-6925 [email protected]