WATERLOO, ON, Feb. 13 – Manulife Bank of Canada, a
wholly-owned subsidiary of Manulife Financial, announced today that it has signed an
agreement with OnX Enterprise Solutions Inc. (OnX) for its award-winning account
aggregation solution. This will enable Manulife Bank to offer its online banking customers
access to their financial information at various financial institutions from one source.
This offering will provide customers with the ability to
conveniently choose to view their bank accounts, investments, loans, credit cards and
mortgages from Manulife Bank and other financial institutions. Information is presented to
customers on one consolidated screen when using Manulife Bank online banking. The service
will be offered to all Manulife Bank online customers free of charge, beginning in April 2002.
“Aggregation is an important step forward in online
banking. It’s a developing trend that makes accessing financial information easier for
customers by presenting it from one convenient and trusted source,” said J. Roman
Fedchyshyn, President and Chief Executive Officer of Manulife Bank of Canada. “We
chose the OnX solution because we believe it offers our customers the most secure and
privacy-assured technology available, since the customer retains complete control over
their financial information.”
The service enables customers to access their financial
information by storing their passwords and personal details from various financial
institutions on their own computer. Customers using the Manulife Bank aggregation solution
then need just one password to view all of their account details at any time, which can
assist them when dealing with their trusted financial advisor.
“We are excited to be working with Manulife Bank on
this key initiative,” said Sheldon Pollack CEO and Co-Chairman of OnX Enterprise
Solutions. “When we were designing our offering, we listened to financial
institutions and industry experts. Privacy and security were the paramount concerns for
both consumers and financial institutions. This endorsement from such a recognized leader
validates that we have addressed those concerns with our unique technology.”
ABOUT MANULIFE FINANCIAL
Manulife Financial is a leading Canadian-based financial services group operating in 15
countries and territories worldwide. Through its extensive network of employees, agents
and distribution partners, Manulife Financial offers clients a diverse range of financial
protection products and wealth management services. Funds under management by Manulife
Financial were Cdn$142.2 billion as at December 31, 2001. Manulife Financial Corporation
trades as ‘MFC’ on the TSE, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial
can be found on the Internet at www.manulife.com.
ABOUT OnX ENTERPRISE SOLUTIONS INC.
OnX Enterprise Solutions inc. is a leading provider of IT Infrastructure, Internet
Professional Services and Managed Hosting Services. The company has been in business for
over 18 years and had fiscal 2001 revenues of $123 million. The Company is headquartered
in Thornhill, Ontario with offices in Ottawa, Montreal, Quebec City, Toronto and
Vancouver. OnX trades as ‘ON’ on the TSE and is found on the Internet at
www.onx.com.
