Wells Fargo in Cyberspace

Oracle to integrate financial services for e-marketplaces

REDWOOD SHORES, CALIF.  PRNewswire  January 29, 2001  Oracle recently announced that it's working with Wells Fargo to integrate Oracle's B2B Exchange software with Wells Fargo's financial services for e-marketplaces. As a result of the integration, Oracle expects to provide Oracle Exchange users with a range of Internet-enabled B2B commerce services including credit, e-payment and settlement, and digital certificate-based trust services.

We're excited to be working with the leading Internet bank to bring trust, security and efficiency to an otherwise uncertain Internet transaction, said Sandy Sanderson, executive vice president at Oracle. Oracle's open architecture for financial services is flexible, allowing any Oracle Exchange operator to integrate the financial institution of their choice into their exchange.

The services that the companies expect to offer to users of OracleExchange.com and Oracle-powered exchanges are part of Wells Fargo's recently announced WellsXchange solution. WellsXchange allows e-marketplace members to complete a variety of domestic and international transactions without ever leaving a marketplace site.

We are moving aggressively to provide e-marketplaces with the financial services they need to manage transaction and payment settlement risks and to provide an end-to-end solution online, said Steve Ellis, executive vice president of Wells Fargo's Wholesale Internet Solutions Group. Our partnership with Oracle supports our e-marketplace strategy and Wells Fargo's recent WellsExchange launch.

Wells Fargo is a member of the Oracle Exchange Partner Initiative (OEPI), which will provide a range of integrated value-added services for Oracle Exchange operators, suppliers and buyers. The Oracle Exchange Partner Initiative is part of the Oracle Partner Program (OPP), a global business network of more than 12,000 companies that deliver innovative e-business solutions based on Oracle software.