DETROIT/Oct. 15, 2002 - Comerica Incorporated (NYSE: CMA) today announced the successful launch of Comerica Central, the financial service company’s answer to business and consumer demands for a simplified online experience. Comerica Central is a free, value-added aggregation service that enables businesses and individuals to consolidate multiple accounts at one secure online site. The announcement of the latest enhancement at www.comerica.com was made by John R. Beran, executive vice president and chief information officer for Comerica.
"Keeping track of online accounts can be quite challenging, even under the best of circumstances," said Beran. "With Comerica Central, it is easier than ever before to access these web-based relationships. With a single user ID and password, and from one screen, businesses and consumers now have a one-stop shop for all their online accounts."
By customizing its aggregation service to appeal to both businesses and individuals, Comerica hopes to take advantage of the growing popularity of online banking among both target markets.
"We know from industry research that online customers would prefer to consolidate account information, if they could," said Beran. "Comerica Central makes that possible, and by providing the ability to view multiple accounts at once, we are helping customers succeed in making informed decisions about their investment choices."
Some of the features of Comerica Central include:
automatic log-on to more than 2,000 sites with only one user ID and password;
e-mail reminders and other personal alerts of events, such as bill due dates;
charts and graphs to help customers visualize their total financial picture;
universal access to account information anytime and anywhere; and
the latest security technology, including multiple firewall protection, data encryption technology and intrusion detection systems, to protect the privacy and security of customer information.
In addition to helping customers manage their financial information, Comerica Central simplifies the management of other personal online information as well, such as frequent flier miles, stock portfolios, subscriptions, e-mail accounts, shopping baskets, and more.
"With Comerica Central, we are enhancing our existing customer relationships while creating goodwill - both of these are vitally important in the highly competitive financial services marketplace," said Beran. "In addition, we are able to reach new customers by offering a service customized to their unique needs."
Comerica Central is powered by Yodlee, a leading provider of account aggregation services to businesses worldwide. "We are excited to be working with Comerica," said Anil Arora, president and chief executive officer of Yodlee. "They have been a real innovator in applying Yodlee’s technology to serve both businesses and individuals."
Yodlee Incorporated is the world's leading provider of aggregation data and solutions. Headquartered in Redwood City, California, Yodlee's secure, scalable aggregation engine enables financial institutions and portals to become a true online hub for their customers, increasing retention and loyalty, decreasing acquisition costs, and providing unprecedented new revenue opportunities through more personalized services and a deeper understanding of customers' behavior and individual financial needs.
Comerica Incorporated is a financial services company focused on business banking and asset gathering. Through its more than 500 customer-service locations, including branch, lending and investment offices, Comerica helps businesses and people be successful. Comerica is ideally positioned to deliver high quality financial services in Michigan, California and Texas, as well as in Florida, 19 other states, Canada and Mexico. Comerica has an investment services affiliate, Munder Capital Management, ranked among the top money managers worldwide. Comerica reported total assets of $51 billion at June 30, 2002.
Media Contact:
Wayne J. Mielke
Comerica
(313) 222-4732
wayne_j_mielke@comerica.com
