Magazine article American Banker

Australian Bank Picks Edify for Net; Security 1st Is Loser

Magazine article American Banker

Australian Bank Picks Edify for Net; Security 1st Is Loser

Article excerpt

By CAROL POWER Australia and New Zealand Banking Group Ltd. has decided against rolling out Internet banking software from Security First Technologies Inc., after testing it for 18 months. The Australian banking company, known as ANZ, will base its Internet offering instead on software from Edify Corp. The switch is indicative of the intense rivalry between the two software vendors - a rivalry that is spreading internationally. "ANZ Bank was a significant win for us because of who we replaced," said William Soward, vice president of business development at Edify, which is based in Santa Clara, Calif. Melbourne-based ANZ expects to complete the switch to Edify and roll out Internet banking later this year. "It became clear we needed a more customizable, user-friendly platform," said Paul Edwards, an ANZ spokesman. He said the decision was based on "customer feedback and our experience with the technology gained during the pilot." Nearly 10,000 customers participated. Mr. Edwards noted more software options are available now than four years ago, when ANZ began discussions with Security First Technologies, based in Atlanta. ANZ struck up a relationship with Edify and its Australian reseller, Parkers' Edge of Sydney, in November after a review of the pilot's progress. Mr. Edwards said Edify will let ANZ "deliver better functionality," such as confirming payments, including electronic bills. The system can also link to products such as home loans, he said. Jeffrey Ayton, senior vice president of global sales at Security First, said ANZ's decision was the reverse of everything he had seen in the United States market. …

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