Aether Systems, Inc. (Nasdaq: AETH), a leading provider of wireless data products and services, announced today that it has been selected by the online consumer financial services venture, Juniper Financial, to develop and enable the wireless component of Juniper's service offering.
Under the terms of the deal, Aether will develop the wireless front end to Juniper's banking services, which will be available on a variety of platforms including web-enabled phones, RIM and Palm devices.
Aether will develop a browser-based custom application to support the wireless banking service, which will be offered as a free value-added feature to Juniper's customers. These users will be able to use their handheld wireless devices to access account balances, move money between accounts, pay bills, and communicate with customer support.
Juniper Financial (www.juniper.com) is the consumer financial services venture founded by credit card and banking executives Richard Vague and Jim Stewart, former co-founder of First USA, and CEO of WingspanBank.com and Executive Vice President of First USA respectively. The company recently secured $94 million in second round funding from top institutional investors and technology companies.
"This agreement with Juniper not only strengthens Aether's mission to provide the best available wireless financial applications, it also allows us to leverage our expertise and leadership in moving strongly into the online banking market," said Aether Chairman and CEO David S. Oros.
"This is a very exciting agreement for Aether, and we're thrilled Juniper chose us to deliver the backbone of its wireless online banking service."
Wireless transactions will be securely routed from the user's handheld device through the Aether Network Operations Center, and then forwarded to Juniper through an encrypted connection, allowing for seamless end-to-end security for all user transactions.
"Partnering with Aether will allow us to offer industry leading wireless capabilities to our customers," said Richard Vague, CEO of Juniper Financial. "Our relationship with Aether will help us to further redefine online banking while pushing the envelope in the m-commerce marketplace in general."
One factor in Juniper's decision to work with Aether to develop its wireless offering was Aether's reputation for speed-to-market delivery. Aether was able to develop the necessary infrastructure to support Juniper's service in less than three months.
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