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Press Releases
CONTACT:
Jean Barnes
Covast Corporation
(404)812.7157 Covast Technology to be Deployed into ING Banking
ATLANTA – January 9, 2002 – ING Bank, one of the largest financial
institutions globally, has chosen to use eCommunity Builder from Covast Corporation
as their integration broker. ING Bank will use Covast's eCommunity Builder to
power their bulk file delivery channel in order to facilitate high volume payment
initiation, receive reporting information and support other electronic banking
needs for their customers. The solution, based on the off-the-shelf product FLS,
which seamlessly integrates eCommunity Builder, is provided by Covast partner
MaXware Benelux. ING will install the solution with its largest customers enabling
the exchange of high volumes of payments and associated reporting.
“The Covast technology is one of the key components that allows our FLS
payment gateway solution to be completely tailored to the unique customer needs,”
says Peter Kwakernaak, CEO MaXware Benelux. “With Covast's eCommmunity
Builder, we can cater to improved financial transaction management solutions
for financial institutions like ING and for large corporations setting up payment
factories and shared service centers.”
The eCommunity Builder is used as a straight through processing system for
payment files coming from the ING customers' ERP-systems. eCommunity Builder
performs syntax validation and conversion (EDIFACT, X12, SWIFT, XML) and is
installed as a server at ING and as a client-application at the ING customer
sites.
“eCommunity Builder will allow ING Bank to communicate easily and flexibly
with their customers, enabling a robust state-of-the-art delivery channel ,”
says Daan Scheer, founder and CEO Covast Corporation. “We're proud to provide
them (ING Bank) with a solution that will improve and support the customer delivery
channel management.”
About Covast
Covast simplifies the complexity of connecting, translating and sharing
electronic documents with your customers and trading partners. Covast’s
integration software provides secure and reliable connectivity to the
Internet and to VANs. In addition, our solutions’ robust capabilities
include the seamless translation of complex file formats and documents.
Covast accelerates the migration from EDI and proprietary file formats,
to new open standards such as XML. With European headquarters in the
Netherlands and U.S. headquarters in Atlanta, Covast has strategic
relationships with partners and customers including Microsoft, Compaq,
ABN AMRO, ADC, KLM, and ING. For more information, visit www.covast.com.
About ING
ING Group is a global financial institution of Dutch origin, active in the field
of banking, insurance and asset management in 65 countries employing more than
100,000 employees. ING seeks to provide a wide range of financial services to
private, corporate and institutional clients through a variety of distribution
channels, giving them the freedom to choose the option which best suits their
individual needs.
About MaXware
MaXware Benelux is part of EDB Business Partner ASA, the largest independent
Norwegian system integrator (Oslo stock exchange: EDB). MaXware's mission is
to be the premier solution provider based on leading competence and best of
breed products. Its secure solutions enable access, exchange and management
of business information. MaXware competencies are acknowledged in the areas
of (meta) directories, security, messaging and financial services (e-Invoicing,
Internet Banking and Payment Gateways). MaXware's customers are mainly larger
companies, financial organizations, telecommunication providers and service
providers.
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