IBM-Yojna Strategic Alliance Brings Internet Banking to Community Banks

Yojna's FinancialNet is first IBM e-business Solution for Mid-Market Financial Institutions' B2B and B2C Needs

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SOMERS, NY/Farmington Hills, MI - 03 May 2000: -- IBM (NYSE:IBM) and Yojna, Inc., today announced a strategic alliance to deliver Yojna's FinancialNet, IBM's first complete e-business solution for community banks and other mid-market financial institutions.

Michigan-based Yojna, a leading application developer in the $830 million global business-to-consumer (B2C) Internet community banking marketplace, has replaced Microsoft products with IBM products as a result of the new strategic alliance.

Internet banking applications such as Yojna's FinancialNet allow banks to offer a new, lower cost sales and distribution channel for its products and services. It also enables banks to offer new fee-based services to commercial (B2B) customers, a separate $293 million U.S. market opportunity.

According to the terms of the agreement, IBM will promote Yojna and their Accord FinancialNet, Accord Image Keeper Plus, Accord FTS, Accord LIDS and Accord IDS products, as part of a leading IBM Global Mid-market e-business banking solution directed to the needs of the banks, credit unions, savings and loans, brokerage and insurance segments of the banking industry within the United States, Puerto Rico, Canada, Latin America and the Caribbean countries.

Today's agreement is the latest example of the strategic alliances that IBM is creating with leading independent software vendors (ISVs), based on a developer alliance initiative announced in November 1999. Under the initiative, ISVs gain access to new customers and revenue opportunities through IBM's extensive marketing, sales, and solutions resources. At the same time, ISVs commit to lead with IBM's middleware, server platforms and services.

Yojna will market its applications as part of a comprehensive Internet banking e-business solution that include infrastructure components of IBM's Application Framework for e-business. The Application Framework for e-business is a technology roadmap -- based on industry standards -- that helps developers integrate Internet technologies with traditional information technology.

As its platform of choice, Yojna has replaced Microsoft's Sequel Server(b) with IBM's Netfinity(a) server and DB2 Universal Database(a) and Microsoft's IIS Web Server(b) with Lotus Domino(a). Yojna will also utilize Lotus Notes(a) and MQ Series(a) messaging middleware as well as Tivoli middleware for network management. In addition, IBM Global Services will provide integration and implementation for Yojna-IBM sales.

The Yojna alliance is the first of several agreements IBM is negotiating with leading software application developers in the mid-market financial services sector. The mid-market community banking category ranges from start-up banks to banks with $10 billion in assets.

Yojna and IBM have been business partners for over eight years. Yojna has worked with IBM to develop check image repository systems for large banks. In the current relationship, Yojna has integrated IBM's retail Internet banking solution into its corporate Internet banking solution to create the new FinancialNet solution.

"While we have successfully partnered with IBM in the past, Yojna and its employees are truly excited and ready to launch this new joint marketing effort," said Shree Bedakar, chief executive officer of Yojna. "We think our Internet banking product -Accord FinancialNet- with its image-enabled and transaction-enabled options-brings a unique and timely solution to the financial services industry. And IBM's end-to-end e-business support infrastructure is a logical step up from Microsoft's more limited options."

" As Community Banks, Credit Unions and other Mid-Market Financial Institutions work to become more competitive, the IBM agreement with Yojna will assist in controlling internal costs associated with servicing their customers," said David E. Glenn, IBM Americas, Industry Executive, Global Mid-market Business, Banking Finance & Securities. "The suite of Internet banking solutions provided will also help a financial services institution become more effective in reaching and attracting business from individuals as well as commercial accounts. Becoming more internally efficient and increasing external effectiveness are both benefits of using these new technologies. I am delighted to have an IBM alliance that provides solutions built on these products and services."

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