Nordea in cooperation with both IBM and Microsoft to provide a global infrastructure for Internet-based payments in e-co

Nordea in cooperation with both IBM and Microsoft to provide a global infrastructure for Internet-based payments in e-commerce Nordea has entered into agreements with IBM and Microsoft to speed up implementation of the Internet-based payment standards introduced by SWIFT, the standards organisation of the financial industry. These cooperation agreements mark a continuation in Nordea's efforts to utilise its world leading Internet banking expertise to the benefit of corporate customers. The new solution makes it possible for companies to reduce costs as messages related to financing and business operations are sent via one system and payments are transmitted over the Internet. Through the cooperation, both IBM and Microsoft are able to implement a banking interface for businesses seeking a secure solution for international payments over the open Internet. "As global companies, IBM and Microsoft can support businesses moving their procurement and other processes to the Internet environment. Adopting this solution is easy for companies as our partners take care of system-to-system integration work," says Bo Harald, Head of Electronic Banking at Nordea. "Banks and their customers believe that costs can be reduced when procurement and financial processes are moved to the Internet. Nordea's commitment to Identrus and Internet-based payment systems is a proof of this," says Alec Nacamuli, Global Payments Executive, IBM Financial Sector. "Global payments is an area that Microsoft is now really focusing on in the financial services industry. Our ubiquity puts us in an ideal position to support an integrated payments infrastructure," says Paul Shetler, financial services industry manager for Microsoft EMEA. The solution makes it easier for companies to start e-commerce. It suits companies of all sizes. Commerce on the Internet lowers the costs, speeds up the operations and expands the market of the company. Greatest beneficiaries are large companies and their subcontractors that focus on optimising their value chain. For further information: Olli Kähkönen, Head of Extended Cash Management, +358 9 165 53246, +358 50 350 9727 Matti Karvonen, Electronic Banking Services, +358 9 165 24900, +358 50 64 103 Liisa Laine, Media Relations, +358 9 165 42655, +358 50 66839 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/10/01/20021001BIT00300/wkr0001.doc http://www.waymaker.net/bitonline/2002/10/01/20021001BIT00300/wkr0002.pdf

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