NTT Com and eWise Introduce Account Aggregation Solution
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| NTT Communications (NTT Com) reached an agreement with Australian-based eWise Systems in March to provide a solution that enables customers of financial institutions to aggregate their various online accounts onto a single screen for convenient viewing. With account aggregation, customers simultaneously view — on one screen —accounts with banks, credit card companies, brokerages, airline bonus mileage and more. The solution represents a large savings in time and convenience compared to having to access and view each account separately. Moreover, customers need not divulge sensitive data, such as usernames and passwords, and third parties cannot access account information. Financial institutions can also use the system to tailor marketing activities to specific customers. After creating a Japanese version of the software, NTT Com launched the solution in Japan and support it with consulting, systems construction and management, and outsourcing. Services began in March. A number of major financial firms are already using eWise solutions, including Egg, the United Kingdoms largest online bank, and Westpac, one of Australia’s four largest banks. |