 |
2000 Press Releases
nFront and Nexchange
Corporation Partner to Provide
One-Stop Online Shopping
|
Contact:
Kelly Harviel
nFront, Inc.
770.209.4460, ext. 265
kharviel@banking.com
Ernie Buday
Ketchum Crescent for nFront
404.287.2000, ext. 186
ebuday@crescomm.com
Liza Mooney
Creaxion for Nexchange Corp.
404.495.4427
liza@creaxion.com
nFront and Nexchange Corporation Partner to Provide One-Stop Online Shopping
--nFront's member banks will have the ability to offer end-users Nexchange's online shopping network
ATLANTA, Jan. 3, 2000 - nFrontTM, Inc. (NASDAQ: NFNT, www.nfront.com), a leading outsource provider of Internet banking services for small- to mid-size financial institutions, announced today a partnership with Nexchange CorporationTM (www.nexchange.com), the leader in affiliate marketing and merchandising, to provide online shopping to nFront's member banks.
The partnership will offer nFront's 210 member banks the ability to access Nexchange's network of retailers, which will provide the banks' end-users the opportunity to purchase name-brand products sold by Nexchange retailers online.
Unlike other online shopping networks, the relationship with Nexchange will give participating nFront member banks management of the end-user experience, Web site co-branding and significant revenue opportunities.
nFront's member banks will have the ability to provide end-users with access to Nexchange's secure shopping network directly from the bank's Web site. Nexchange ensures the "look and feel" of the bank's Web site will be maintained throughout the end-users' shopping experience. Once shopping is complete, end-users will resume their banking activities at the bank's Web site.
Under terms of the agreement, participating nFront member banks will have the opportunity to generate revenue - ranging from five to 30 percent - from the purchases made from their Web site.
"The ability to offer end-users shopping directly from their highly-trusted bank's Web site is a key value-added benefit," said Tripp Rackley, nFront chairman and CEO. "Our customers have been asking for this opportunity and we found that Nexchange could provide the best partnership available."
Through the co-branded Web site, financial institutions will offer nationally-known products while allowing customers a one-stop-shop. International Data Corp. estimates that in the year 2000, 46 million consumers in America will be buying online, spending an average of $350 per year.
Nexchange's network of brand-name retailers includes Just For Feet, Proflowers, eBags, and Ashford.com, among others. These retailers sell a variety of products including shoes, gifts, flowers, luggage, travel accessories, magazines, writing instruments, hats, household items, gourmet foods, cookbooks, and more. In addition, Nexchange plans to add thousands of items from the most popular online product categories including toys, music, video and books.
"Nexchange is thrilled to partner with nFront," said Joe Michaels, Nexchange's president and chief marketing officer. "It's a great match. With Nexchange, the integrity and brand of each participating nFront member bank will be maintained and customers are not lost to other sites during the shopping experience, unlike most affiliate programs."
About Nexchange
Founded in 1996, Nexchange CorporationTM (www.nexchange.com) connects buyers and sellers on a network of over 100,000 online stores. Using Nexchange's patent-pending technology, website owners open retailers' stores on their site and sell products relevant to their content. Retailers extend their marketing reach and achieve cost-effective online sales. Nexchange Corporation is a privately held company headquartered in Atlanta.
About nFront
Atlanta-based nFront, Inc. (NASDAQ: NFNT, www.nFront.com) is a leading Internet banking services company that enables small to mid-size financial institutions to process financial transactions with their customers via bank-branded Web sites. nFront's comprehensive outsourced service is a secure, reliable and scalable way to deliver Internet banking, a key means of attracting and retaining profitable customers. Exclusively endorsed by the American Bankers Association (ABA) and winner of Microsoft's Best Internet Banking Solution Award, nFront provides fully transactional Internet banking development and implementation, Web site design, maintenance and hosting, customer service training and support, and marketing consulting services.
