..Netlife allows Postbank to offer brokerage via Internet
and telephone - 250,000 deposits expected in the first year..
Today, Postbank, the leading German retail bank, announced
that it will offer electronic stock-trading direct to
customers. In co-operation with Netlife AG, the leading
provider of software for electronic banking and brokerage,
and WertpapierService Bank AG, Postbank will offer its new
brokerage services via the Internet and by telephone.
Prof. Dr. Wulf von Schimmelmann, CEO of Postbank, said:
"Postbank will be a major player in online brokerage from
the very outset in this emerging sector. We anticipate
250,000 deposits during the first year of our online
brokerage offering. Postbank currently has more than two
million customers managing their bank accounts
electronically or by telephone, and we will build on our
expertise in this area when entering the direct brokerage
market." The service will be available for all customers
from Autumn 2000, coinciding with Postbank's entry to the
A secure IT infrastructure is vital for success in the
online brokerage sector, due to the need for customer
confidence in electronic transactions and the sensitive
nature of the financial data being exchanged. Software from
Netlife AG will act as the interface for all electronic
transactions. By the beginning of the year 2000, Netlife
will deliver a front-office system which will allow Postbank
customers to access price information, administer deposits
and buy and sell securities. Postbank has already been
working with Netlife for two years to provide the IT
infrastructure for its online retail banking services.
Claus Müller, CEO of the Netlife AG, said: "We are very
pleased to be able to continue and extend our successful
relationship with Postbank. The new developments in our
partnership will reinforce Netlife's position as the leading
provider of innovative and reliable software technology to
the electronic banking and e-brokerage sector."
Founded in March 1996, Netlife has grown rapidly to be-come
a European leader in the delivery of e-business solutions.
Netlife's success is based on its ability to exploit the
converging technologies of Internet and Telecommunications,
to develop customer solutions that improve business
performance. To support international clients and partners
Netlife has established subsidiaries in the key financial
centres worldwide so that technology can be customised for
local market conditions. Netlife's focus is to provide the
next generation of e-business and e-commerce solutions.
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