ERICSSON AND IBM JOIN FORCES TO HELP FINANCIAL SERVICES COMPANIES OFFER NEXT GENERATION END-TO-END MOBILE INTERNET SERVICES Thursday 15 February 2001 PDF Print Ericsson and IBM today announced they will work together to help financial services companies deliver Mobile Internet offerings that go beyond today's Business-to-Consumer services such as checking an account balance. The two companies will develop and implement technology that enables high-value, high-volume Business-to-Client services such as wealth management, account aggregation, mobile trading, and credit card and payment alerts. The alliance will combine the wireless telecommunications expertise of Ericsson with the financial services and information technology expertise of IBM. The two companies will develop and market a joint comprehensive offering tailored to the needs of financial services companies. The offering hopes to give financial institutions a standard, highly scalable and secure end-to-end infrastructure for implementing robust, high-volume services across multiple financial channels. "The recent rise of Mobile Internet financial services has occurred in an environment of uneven infrastructure development," said Ed Kountz, senior analyst, Mobile Financial Strategies, TowerGroup. "Most Mobile Internet solutions available today provide a semi-integrated, add-on delivery mechanism to support mobile delivery of financial data and transactions, which is not sufficient for many financial services firms." Kountz continued, "The financial services industry is clearly interested in bringing some order to the world of Mobile Internet infrastructure, particularly in terms of how mobile technologies will develop and how to fully integrate mobile in a multi-channel environment. The Ericsson and IBM alliance is an important indicator that mobile telecommunications and enterprise infrastructure technology and services are coming together to address this issue, which is a positive step for financial services institutions as they chart their future mobile strategies." The companies' joint offering will combine Ericsson Mobile Internet application building blocks such as Ericsson Mobile e-Pay, Safetrader and WAP Gateway with the IBM WebSphere infrastructure family of products, including WebSphere Everyplace Suite, and IBM eServer. IBM Global Services will provide business innovation consulting and IT integration services. "This alliance between Ericsson and IBM is a powerful proposition. Given the depth of IBM's relationships with the world's leading banks and Ericsson's pioneering work in the mobile commerce space, we anticipate great interest among the financial community," said Remus Brett, manager, Financial Services Technology Practice, Datamonitor. "We firmly believe next generation mobile services are going to be critical for banks in the next two to three years. This alliance should enable banks to position themselves favourably regardless of future changes in networks, devices and payment technologies." "Many of the wireless projects underway at banks and financial services firms today are in pilot stage, involving only a few hundred consumers and undertaken on a one-off basis to gain first-mover advantage," said Mark Chetwood, director, Retail Financial Services Solutions, IBM Global Financial Services Sector. "While many benefits have been realised, financial services companies now are faced with the challenge of delivering higher value financial services to hundreds of thousands of customers located around the globe. The IBM and Ericsson alliance will develop the necessary infrastructure for financial services companies to integrate Mobile Internet into their multi-channel strategy, allowing them to easily offer the next generation financial services to build customer loyalty." "The Ericsson and IBM alliance is an important step in our commitment to drive applications as a key part of our strategy. It aims to bring a unique combination of expertise to the market to assist financial institutions challenged by the opportunities of Mobile Internet," said Lars Boman, president, Ericsson Internet Applications. "It will accelerate the uptake of Mobile Internet for financial services and will drive the development of applications and traffic volume for GPRS and 3G in this sector." Ref No: 00 / 034 Notes to Editor About IBM IBM's Financial Services Sector is the world's leading provider of comprehensive, integrated e-business solutions to the banking, financial markets and insurance industries. Working directly with its financial services customers, IBM develops and deploys mission-critical industry-specific technology solutions. Those solutions comprise the full range of IBM capabilities including consulting, software, hardware, research and services. Additional information about IBM can be found at http://www.ibm.com/solutions/financialservices About Ericsson Ericsson is the leading communications supplier, combining innovation in mobility, Internet and Multi-services, creating and driving a new era of Mobile, Personal and Broadband Internet. Our mission is to understand our Customers' opportunities and needs, and provide best-in-class communication solutions in a timely manner. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for people all over the world. Read more at http://www.ericsson.com/pressroom IBM, WebSphere, WebSphere Everyplace Suite and eServers are registered trademarks of IBM in the United States and other countries. Ericsson, Mobile E-Pay, Safetrader and WAP Gateway are registered trademarks of Ericsson in Sweden and other countries. Contact Details Catherine Hunt IBM Global Services Tel: 44 (0) 207 202 3654 E-mail: email@example.com Or Emma Thompson / Nicky Morgan On behalf of IBM Tel: 01753 790700 Email: firstname.lastname@example.org email@example.com This press release was distributed by ResponseSource Press Release Wire on behalf of Pleon in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.