Passageways Launches Hosted Portal Solution
West Lafayette, IN. August 1st, 2007 - Passageways, the leading provider of Portal Solutions for financial institutions, today announced that they will begin offering a "hosted version" of their portal solution targeted towards the smaller financial institutions.
Passageways, the first company to offer a robust Portal solution developed exclusively for the financial services industry is excited about this new offering. Gail Koehler, President/COO of Passageways explains, "We started with just one product, our Corporate Portal, and have grown our offerings to include multiple Portal Solutions, numerous modules and applications, a very busy professional services department and now, our "Hosted Portal Solution." We have truly created a full service solutions offering for our clients and the market has responded well."
Paroon Chadha, Co-Founder and Vice President of Passageways adds that "As financial institutions continue to grapple with an enormous amount of content, information and processes, Portals are quickly becoming mainstream in the operations of financial institutions."
The Passageways Hosted Portal Solution is an Application Service Provider (ASP)/Software as a Service (SaaS) solution that provides the use of the Passageways software and hosting with a one-time setup fee and an affordable monthly fee. The ASP/SaaS option is appropriate for those on a limited startup budget, for those wanting to "test the waters" of their business model before committing to a material investment, or for those whose needs are short term. However, it is also a preferred alternative to purchasing software and operating servers in-house for all financial institutions.
The Passageways Hosted Portal Solution can serve an unlimited number of users, and supports the use of the Passageways Portal Framework as well as the existing Passageways. The offering also allows purchasers to choose the amount of storage space needed.
The launch of this Hosted Solution also includes the announcement of the first two Passageways Hosted Solution clients. MEMBERS Development Company LLC, a research and development company owned by credit unions and CUNA Mutual Group, located in Madison, Wisconsin and Delaware State Police FCU, a $102 Million in assets credit union with branches in New Castle, Cheswold and Sussex, Delaware.
About Passageways
Founded in 2003, Passageways is the leading provider of Portal Solutions to the financial services industry. Our award-winning Portal Solutions were developed exclusively to meet the unique operational needs and functions of financial institutions. The Passageways Portal Solution provides financial institutions with the ability to organize, manage and deliver role-based views and access to enterprise information; content, applications, workflow processes, and more. The result. increased collaboration, efficiency, and profitability!
About MEMBERS Development Company, LLC
MEMBERS Development Company, LLC is a credit union/CUNA Mutual Group jointly owned, yet credit union-controlled, research and development company. Its mission is to provide a unified credit union approach to the effective and efficient development and delivery of high quality state-of-the-art member related products and services for the credit union marketplace. Fifty-nine credit unions/CUSOs currently hold equity positions in MDC. The CUNA Mutual Group is the leading provider of financial services to credit unions and their members worldwide. More information on the company is available on the company's Web site at www.cunamutual.com.
About Delaware State Police Federal Credit Union (DSPFCU)
DSPFCU, a $102 Million in assets credit union headquartered in Georgetown, Delaware, and lead by CEO Stephen D. Cimo is a cooperative and was organized in 1960 as a federally chartered Credit Union, regulated by the National Credit Union Administration. The field of membership consists of 8,964 Uniformed and non-uniformed employees of the Delaware State Police who work in the State of Delaware; full time employees of Camp Barnes, Inc. who work in Sussex County, Delaware; Camp Barnes, Inc. in Sussex County, Delaware.
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