Demo & More
For more in-depth information on Andera's solutions including collateral and a pre-recorded demo, click here.
Javelin has researched the market for online account opening, and considers Andera to be a market leader in this rapidly growing space. With its next-generation packaged Editions, Andera is streamlining the potentially complex set of choices involved in an implementation, while at the same time further reducing barriers to entry related to cost and effort.
Mark Schwanhausser
Analyst
Javelin Research

Press Release

Andera Announces Banner Year with 55 Customers, Record Revenue and Growth

PROVIDENCE, RI - January 9, 2005 - Andera, Inc. announced today that it finished 2005 with 55 customers for its integrated account opening and funding platform, along with record growth in revenues and transaction volumes. Andera's spectacular performance in 2005 solidifies its position as the leading provider of integrated account opening technologies in the marketplace, widening its lead over last year.

The privately-held company saw 2005 revenue increase by more than 200% over the previous year, and contract bookings increase by a remarkable 800% over the same period. Also in 2005, Andera expanded its management team, more than doubled its workforce, and established deep strategic alliances with industry leaders such as Fiserv and eFunds.

Andera attributes its success to a growing awareness by financial institutions of all sizes of the tremendous benefits that can be realized by streamlining and automating their currently inefficient account opening processes. Andera's New Accounts Online is the next-generation hub for all new account opening activity throughout the financial institution enterprise - in the branch, call center, and online, as well as through alternative delivery channels such as kiosks, indirect, and even wireless.

Also in 2005 Andera released major functional enhancements to its New Accounts Online product suite, designed to help increase completion rates, manage workflow, simplify audit and compliance, and enhance reporting. Andera also announced the availability of new low-cost core system integration packages, which will allow more customers to take advantage of real-time capabilities that go along with a fully integrated account opening process.

"Andera is very pleased to continue our rapid growth and to further solidify our position as a leader in our industry," said Stephen Siegel, Chairman of Andera. "These milestones demonstrate the success we've had bringing world-class solutions to the market, and allow us to accelerate the pace of innovation we're known for. We expect to continue making major enhancements to the platform in 2006, to the benefit of all of our current and future customers."

About Andera
Andera is the leader in online customer acquisition technologies for retail financial institutions. Dedicated to helping banks and credit unions use the Web as a tool for sales and growth, Andera offers a suite of integrated products and services for automated online account opening, funding and cross-selling. Andera is headquartered in Providence, R.I. and can be found on the Internet at www.andera.com.


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