Palo Alto, CA–May 6, 2002 TIBCO Software Inc. (Nasdaq: TIBX) today announced that CapitalStream, a provider of commercial finance automation technology, has selected TIBCO ActiveExchange™ to serve as its Enterprise Application Integration (EAI) and Business-to-Business (B2B) integration platform. TIBCO ActiveExchange version 3.0, released today, allows companies to effectively utilize Web Services to automate processes and transactions with other businesses over the Internet. With its implementation at CapitalStream, TIBCO ActiveExchange allows the financial company to provide real-time, message-based interconnectivity to its customers’ disparate third-party and legacy systems. Customers can now have access to data spanning multiple systems and geographies.
CapitalStream hosts a processing hub through which its enterprise customers conduct commercial finance transactions, such as the processing of credit cards, loans, leases and lines of credit for their customers and associates. With hundreds of customers sharing information over one hub, CapitalStream needed a platform that would allow customer systems to communicate with each other. TIBCO ActiveExchange enables CapitalStream to provide secure and accurate real-time linkage to its customers’ systems, while also reducing the time and money required to establish and maintain the connections.
"The financial services industry sets an extremely high standard for the timeliness and reliability of information exchanged between companies. With countless customers and partners relying on us every day, we needed a solution that would provide the integrity of our communications," said Jeffrey Dirks, president and chief operations officer of CapitalStream. "TIBCO ActiveExchange has provided us with a secure, reliable platform that allows us to offer real-time access to the information that our customers and partners need the most. Since the implementation of the TIBCO solution, our average financing processing times have been reduced from four days to four hours or less."
Based on TIBCO ActiveExchange technology, CapitalStream is also launching an integration server that is being implemented in Bank of the West’s more than 300 branch locations, as well as Bank Boston Fleet Capital Global Vendor Finance, spanning more than 1,000 concurrent users across five leasing divisions.
"With Web Services gaining increased acceptance within the financial services community, CapitalStream turned to TIBCO for a solution that would incorporate Internet-based communications into its business framework with a minimal amount of risk," said Murat Sonmez, senior vice president for TIBCO Software. "TIBCO ActiveExchange provides the security and integrity of CapitalStream’s online interactions, while also allowing them to leverage existing investments in Internet protocols and industry standards such as XML, EDI and RosettaNet. This combination of secure cross-company communications, minimal platform maintenance and reduced downtime is enabling CapitalStream to take full advantage of Web Services, thereby remaining competitive in its industry."
About TIBCO ActiveExchange™
TIBCO ActiveExchange gives companies the ability to securely exchange information over the Internet and leverage it to automate processes and transactions with other businesses. TIBCO ActiveExchange makes interactions more efficient by eliminating delays caused by slow and error-prone means of information exchange, such as fax and email, and by reducing the number of manual steps involved in processes. TIBCO ActiveExchange provides the security and integrity of interactions with robust authentication and authorization, encryption, and non-repudiation and supports Internet protocols and industry standards such as XML, EDI and RosettaNet, enabling companies to leverage their existing investments.
About TIBCO Software Inc.
TIBCO Software Inc. (NASDAQ:TIBX) is a leading provider of total business integration solutions delivering infrastructure software that enables businesses to seamlessly integrate business systems in real-time. TIBCO technology was first used to digitize Wall Street and has since been adopted in diverse industries including financial services, telecommunications, electronic commerce, transportation, logistics, manufacturing and energy. TIBCO’s global customer base includes more than 1,500 customers such as NEC, Dynegy, BP, eBay, US Bank, The Limited, Delta Air Lines, Philips, AT&T, Pirelli, Yahoo! and Cisco Systems. Headquartered in Palo Alto, California, TIBCO can be reached at 650-846-1000 or on the web at www.tibco.com.About CapitalStream
Seattle-based CapitalStream delivers process automation solutions for the financial services industry. CapitalStream’s FinanceCenter™, a patent pending technology platform provides tools to better manage credit risk, reduce costs, and attract new business by automating manual processes for leases, loans, lines and cards. CapitalStream, an established industry leader with deep knowledge about the inner workings of the financing industry, has helped hundreds of financial organizations increase their competitiveness, customer service and profitability.
For additional information about CapitalStream visit its web site at www.capitalstream.com. Contacts:
Jennifer Fox
Capital Stream, Inc.
206-548-1651
jenniferf@capitalstream.com
Caroline Phillips
TIBCO Software Inc.
650-846-5697
caroline@tibco.com
TIBCO, the TIBCO logo, The Power of Now, TIBCO Software and TIBCO ActiveExchange trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
Legal Notice Regarding Forward-Looking Statements: This release contains forward-looking statements regarding TIBCO's business, customers, markets served or other factors including the ability of products to meet customers’ expectations, needs, or perform as described that may affect future earnings or financial results. Our actual results could differ materially from such forward-looking statements. Reasons for why actual results could differ materially include if the products are unable to successfully meet customers’ expectations, needs, or perform as described. Additional information concerning factors that could cause our actual results to differ materially from those contained in the forward-looking statements can be found in TIBCO Software's filings with the Securities and Exchange Commission ("SEC"), including but not limited to its most recent reports on Forms 10-Q and 10-K filed with the SEC on April 2, 2002 and January 30, 2002, respectively, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements including limited independent operating history, history of losses, unpredictability of future revenue, dependence on a limited number of customers, relationship with Reuters Group PLC, rapid technological and market changes, risks associated with infrastructure software and volatility of stock price. Copies of filings made with the SEC are available through the SEC's electronic data gather analysis and retrieval system (EDGAR) at www.sec.gov. TIBCO assumes no obligation to update the forward-looking statements included in this document. |
