CapitalStream Strikes Strategic Alliance with OANDA
Online currency conversion rates to support CapitalStream subscribers’ multinational business
Seattle, July 12, 2000– CapitalStream, Inc., an e-commerce provider of services and applications for the business finance industry, announced today a strategic alliance with OANDA, the Internet’s leading provider of currency localization tools, information and transaction services. Under the terms of this agreement, CapitalStream licenses the use of OANDA’s Internet-based online currency conversion rates to support CapitalStream.com subscribers engaging in multinational business transactions. CapitalStream accesses OANDA’s database directly, utilizing FXProtocolo?=/span>, which feeds the latest conversion rates of 164 currencies into a table on its site. Now financing companies can easily and automatically produce quotes in selected currencies as part of their subscription to CapitalStream.com. CapitalStream.com is a hosted e-commerce site combined with a Web-based toolset that enables manufacturers and vendors, financial brokers, B2B e-commerce companies and financing firms to integrate financing at the point-of-sale, reach a wider range of financing partners, and automate risk management and workflow.
OANDA is a global leader in currency conversion, localization, decision support, transaction services, and forecasting. As a Web-based business-to-business Applications Service Provider (ASP), OANDA services over 12,000 clients globally, in seven languages. OANDA has one of the world’s largest historical, high-frequency, filtered currency databases, and is an early pioneer in the development of proprietary conversion, localization and forecasting tools.
CapitalStream Strikes Strategic Alliance with OANDA
“We introduced this new service as a direct result of customer feedback,” said Stephen Campbell, president and CEO of CapitalStream. “As our subscribers expand internationally and manage transactions in multiple currencies, we need to keep providing them with up-to-date, Internet-ready tools to support their global competitiveness. OANDA’s broad expertise in online currency conversion rates helps us do just that.”
“By seamlessly integrating our customizable currency conversion service into CapitalStream’s infrastructure, this partnership enables companies involved in the financial supply chain to move at the same pace as the Internet economy on an international scale,” explained Tim Kelly, president and CEO of OANDA.
About OANDA
Established in late 1996, OANDA is a leading developer of currency conversion and localization applications for owners of e-commerce web sites, the travel industry and the financial community. With over 12,000 customers using its applications and currency information and 20 million page views per month on its web network, OANDA is committed to making essential currency information easily accessible to anyone including currency investors and traders, professionals in corporate procurement, business and private individuals who buy and sell globally, or the peripatetic road warrior. Actively providing currency conversion services for the Internet users of AOL, Alta Vista, CNNfn.com, Concierge.com, Swissair, Trip.com, among others, OANDA has won wide acclaim as the best source for international currency exchange rates. For more information, please visit the company’s web site at www.oanda.com.
About CapitalStream
Seattle-based CapitalStream offers end-to-end e-commerce marketplace solutions—including customer management tools, workflow automation and an online transaction network—for the global business finance market. The company’s e-commerce network, CapitalStream.com, provides an infrastructure for financing companies, manufacturers and B2B e-commerce firms to capture, grow and service customers. CapitalStream has been an established industry leader for five years, and in 1999, its 600 customers used CapitalStream products to facilitate $8.5 billion in transaction volume.
For additional information about CapitalStream visit its web site at www.CapitalStream.com.
Contact: Lisa Geschke Leslie Morgan Damon Leavell Parker LePla CapitalStream Spring O’Brien for OANDA 206-625-1541 206-548-1712 973-267-8800
