|
National Australia Bank today announced that it was the first Australian bank to join leading business-to-business e-commerce portal CFOWeb.com for users of international capital markets.
CFOWeb.com was launched last September by Integral and has a number of global financial services groups as participants including Bank of America, Standard Chartered and ABN Amro. More than 4,400 finance professionals from 3,600 companies and institutions around the world have registered to use CFOWeb.com.
Under the agreement the National will become the first Australian based provider to the system. The portal is the first to provide corporate treasurers and fund managers with a free, single source for valuations, indicative pricing, portfolio analysis and online trading of financial markets products including Foreign Exchange, Interest Rate Derivatives and Money Market products.
National's General Manager Global Markets, Mr Ron Erdos said the bank had taken a systematic approach to assessing the vast array of portals and alliances that are currently trying to deliver financial markets products to the corporate & institutional customer base.
"CFOWeb.com has a compelling business model that provides us with the opportunity to grow our customer base particularly in the US where we are already physically represented," Mr Erdos said.
Joining CFOWeb.com as a provider is one of a number of steps that the National is taking in its e-commerce.
"CFOWeb.com is an e-commerce solution that allows an organisation such as National Australia Bank to grow our business without incurring significant infrastructure costs," said Shaun Dooley, the Head of e-Business Development for National's Global Markets Division.
"National Australia Bank is a powerful and welcome addition to the global CFOWeb.com network," said Harpal Sandhu, CEO, Integral. "It's expertise and geographic reach further broadens the benefits and options for treasurers and finance professionals using CFOWeb.com."
About National Australia Bank
www.nab.com.au
www.nabmarkets.com
National Australia Bank Limited is an international financial services group providing a comprehensive and integrated range of financial services across four continents and 15 countries. Globally at 15 September 1999 the National had total assets of over A$250 billion, over A$400 billion in assets under management and administration and more than 9 million customers.
The National is the largest financial services institution listed on the Australian Stock Exchange and ranks among the world's top 40 largest banks in terms of shareholders' equity.
About CFOWeb.com
Developed by Integral, CFOWeb.com (www.cfoweb.com ) is the first business-to-business e-commerce portal servicing corporate treasury groups and fund managers for their capital market needs. It gives corporate treasurers and fund managers a free, direct and unprecedented single-source of information to independently model and price financial trades from multiple financial services providers; create, manage and maintain portfolios; and conduct a wide range of capital markets trades online. The CFOWeb.com portal offers users direct, one-stop access to the latest news, market data and developments, and educational services related to corporate treasury and fund management operations. CFOWeb.com also gives investment banks and financial services providers an immediate online presence, dramatically increased deal flow, reduced costs and expanded geographic reach.
About Integral
Integral Development Corp. is a leading provider of business-to-business e-commerce solutions for capital markets, including CFOWeb.com (www.cfoweb.com ), the first e-commerce portal for capital markets. Founded in 1993, Integral is privately held and has a history of developing capital markets trading and risk management software. Investors include Accel Partners, AIG (NYSE: AIG), ABN Amro (NYSE: ABN), Bank of America, Bain Capital, Nassau Capital and Pivotal Asset Management. Headquarters are in Mountain View, California, with additional offices in New York and London.
|
