Wachovia Builds Next-Generation Platform
Bank chooses Corillian for online banking solution.
Charlotte, N.C.-based Wachovia Corp. selected Corillian's (Hillsboro, Ore.) Corillian Voyager platform and Corillian Consumer Banking as the foundation of its new online banking solution. The Corillian platform will enable Wachovia to rapidly deploy online financial services applications, including Corillian Consumer Banking, a retail banking solution that the vendor claims will provide Wachovia with the capability to deliver an easy-to-use online banking experience for customers. Corillian Voyager and the Corillian Developer Network will also provide Wachovia with the ability to integrate its online banking system with other enterprisewide applications to offer customers a complete set of tools for managing their finances online.
According to Lawrence Baxter, the bank's EVP and chief e-commerce officer, Wachovia decided in December 2003 to rebuild its platform. "We had an aging internal platform and we wanted to rebuild a new platform or take the best in class in the industry," he says. Baxter adds that Wachovia wanted a technology that would be compatible with other banks' systems in the event of Wachovia's participation in future mergers and acquisitions. Corillian's proven track record in this area was also a factor in the decision, he says.
Wachovia installed the technology in July. The system still needs to undergo testing, and Wachovia's online banking customers will not be moved onto the platform until early 2006.