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Arati Sontakay
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May 04, 1999
First Union Global Cash Management Teams with Sun-Netscape Alliance to Build Internet Infrastructure
E-commerce software enables First Union to offer new Web-based products, service features
CHARLOTTE-First Union's Global Cash Management Division announced today that it is teaming up with the Sun-Netscape Alliance to build an internet infrastructure that will provide the company with an effective and reliable way to build Web applications.
This new infrastructure will provide an integrated system on which e-commerce applications can run. It doubles capacity for customer access and allows First Union to expand its Web-based product offerings. In addition, efficiencies gained through the system will enable First Union to bring these online products to market more quickly.
"Building this infrastructure illustrates First Union's commitment to developing Web-based products that customers can access through a single source 24 hours a day," said Nina Archer, First Union executive vice president and Global Cash Management Division head. "We're pleased to be working with the Sun-Netscape Alliance, an industry leader, in implementing this important technology platform. Not only will it augment our ability to provide customers with electronic service alternatives to suit their global reach, it will also enable us to extend First Union's offering throughout our commercial bank"
First Union's existing Internet-based funds transfer and information reporting products will operate from the new infrastructure. Customers will be able to access a variety of Web-based products at any time and use the products simultaneously.
"Our customers want value-added solutions, and we can provide these using the Web as our delivery channel," said Sandi Larsen, First Union Global Cash Management vice president and Internet development manager. "In time, customers will also be able to choose service and fulfillment options over the Internet."
"By taking advantage of the Sun-Netscape Alliance's powerful portfolio of e-commerce offerings, First Union will continue to lead the way in providing advanced Internet services to its customers in the Net economy," said Steve Savignano, senior vice president of the Applications Product Division for the Sun-Netscape Alliance. "The Sun-Netscape Alliance looks forward to working with First Union to provide e-commerce services to its global customer base."
First Union is using both infrastructure and application software from the Sun-Netscape Alliance to build its e-commerce service. The Sun-Netscape Alliance's e-commerce infrastructure provides high performance, scalability, 7-by-24 reliability, and strong security features that extend outside the enterprise. Netscape Application Server is one of the industry's fastest internet application servers for business-critical applications on the internet and extranets. Netscape Directory Server software provides real-time directory and security services that enable centralized, low-cost management of multiple internet applications. The e-commerce application software includes Netscape Billerxpert for online bill presentment and payment.
Last year, First Union's Global Cash Management Division announced a $70 million commitment to new product development over the next two years. Priorities include enhancing international trade and payment products to better suit customers' global reach and focusing on technology that gives customers direct access to products, information, fulfillment and servicing.
Electronic commerce, Internet services, nationwide lockbox processing and a variety of PC-based options are among the many cash management services available at First Union. First Union offers a full range of collection, disbursement, information reporting and electronic commerce services designed to improve day-to-day efficiency of company treasury operations and maximize company return on cash assets. First Union's cash management products have earned top marks in surveys by Phoenix-Hecht and Ernst & Young. First Union is the third largest cash management bank in the country, according to Ernst & Young.
America Online, Inc. and Sun Microsystems, Inc. formed the Sun-Netscape Alliance to provide easy to deploy, comprehensive enterprise and e-commerce solutions to business partners and other companies competing in today's Net economy. The Alliance product portfolio provides customers with the industry's most scalable, integrated infrastructure software and a family of production ready e-commerce applications. The products are offered on the industry's most widely available product platforms, including DEC, HP, IBM, Linux, SGI, Microsoft Windows, and Sun. The Alliance software product portfolio includes: messaging and calendar, collaboration, web, application, directory, and certificate servers. The Alliance also offers a family of production-ready applications for e-commerce, including commerce exchange, procurement, selling, and billing.
Founded in 1985, America Online, Inc., based in Dulles, Virginia, is the world's leader in interactive services, web brands, internet technologies, and e-commerce services. America Online, Inc. operates: two worldwide internet services, America Online, with more than 17 million members, and CompuServe, with approximately 2 million members; Several leading internet brands including ICQ and Digital City, Inc.; the Netscape Netcenter and aol.com portals; and the Netscape Navigator and Netscape communicator browsers.
Since its inception in 1982, a singular vision, "the network is the computer," has propelled Sun Microsystems, Inc. [NASDQ: SUNW] to its position as a leading provider of high quality hardware, software and services for establishing enterprise-wide intranets and expanding the power of the internet. With more than $11 billion in annual revenues, Sun can be found in more than 150 countries and on the World Wide Web at http://sun.com.
Charlotte-based First Union Corporation is the nation's sixth-largest bank with assets of $237 billion. First Union serves more than 16 million retail and commercial customers and has offices throughout the East Coast from Florida to Connecticut.
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