Teknowledge Corporation - Tekportal eFinance Suite
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TekPortal OFX
The TekPortal OFX Server is an important application module in the TekPortal eFinance suite as providing both application value and infrastructure for the Financial Service Provider (FSP). TekPortal OFX is a certified Open Financial Exchange (OFX) solution by both Intuit and Microsoft to work with Quicken ® , QuickBooks ® , TurboTax ® and Money ® for banking, credit card, billpay, investments and tax reporting . TekPortal OFX is used by the largest FSPs in the US including MBNA, and service bureau Fiserv, as well as small and mid-tier institutions like Pacific Capital Bank, Kinecta FCU, Technology Credit Union and Schools Financial CU. The TekPortal OFX server provides significant application value and support at a reasonable cost.
Benefits
FSP Value:
- Revenue generation: Many FSPs charge customers $2-$3/month for OFX access
- High profit customers: Quicken, Money, and QuickBooks (PFMs) customers are one of the most profitable customer segment.
- Additional application function: TekPortal OFX server is packaged with an OFX/IFX client for key applications like bill presentment and aggregation.
- Middleware: The OFX protocol provides an easy method for FSP enablement of wireless, wealth management and aggregation applications.
End User Value:
- QuickBooks is the #1 selling small business accounting package in the US. OFX provides superior support for QuickBooks end user access to FSP data and applications.
- Quicken and Money are used by 36M end users in the US. OFX provides superior end user experience for these users.
- TurboTax is the #1 selling tax package in the US. OFX integration of the 1099, 1098 and W2 forms provide for smoother user tax filing experience and reduced cost for the FSP by reducing paper mailings
Features
- Lowest integration cost of any OFX server through the optional use of Teknowledge’s patent pending Enterprise Application Aggregation (EAA).
- Through the use of TekPortal’s EAA, integrating and OFX enabling affinity brokerage, credit card, and mortgage information is part of a TekPortal OFX server STANDARD implementation, even if these services are provided by different companies.
- Direct back office interfaces for many core processing systems
- OFX client for bill presentment and turnkey bill pay connections to the larger bill pay providers (Metavante and CheckFree).
- Service bureau enabled for multi-bank/brand FSPs
- Multi-tier architecture and J2EE compliant for high reliability and scalability
- Support for OFX 1.02, 1.5, and 2.01 message specifications
- Key CSR and administrator reporting features and functions:
- End user activity by date range or discrete download, including errors
- Modifiable logging level by user, partner (for multi-bank implementations), aggregate, connector or system wide.
- Ability to reset the download token for a specific user
- Billing report
- PFM type report
- Extensive and configurable logging and reporting
- Built on the TekPortal Enterprise server providing key infrastructure for the OFX Server including:
- Your choice of platforms including:
- Linux, Tomcat, PostgreSQL
- Windows, JRun, MS SQL Server
- AIX or Solaris, Weblogic, Websphere, Oracle, DB2
- Hardware Security Module (HSM) for FIPS level 3 140 encryption support, the same as ATM PINs
- Aggregation engine to consolidate 3 rd party information and make available via OFX including affinity brokerage, mortgage, or credit card information
- Support for a wide range of OFX aggregates including:
- Banking
- Investments, including 401k
- Bill payment
- Tax (TurboTax support)
- Mail to and from FSP
- Automated enrollment and account activitation
- Support for a data warehouse as a stand-in data source or middleware
TekPortal OFX has Quicken and Microsoft certification: http://fi.intuit.com/Get_Connected/Matrix.cfm
Why Teknowledge?
- Teknowledge is a main supplier of OFX solutions to the finance industry and participates on key OFX standards groups, including the OFX-Aggregation BITS working group.
- The Teknowledge OFX server is the base for other high value TekPortal applications: TekPortal ACH Transfers (customer initiated ACH Transfers), and TekPortal Aggregation.
- Teknowledge is the #1 provider of Aggregation software to the finance industry. As Aggregation moves more towards an OFX standards based approach, Teknowledge is uniquely positioned by supplying both OFX and Aggregation servers to adopt a modified OFX standard for its OFX server and Aggregation client software.
- Teknowledge is an established company with over 20 years in business successfully delivering and supporting our customers
Teknowledge has developed extensive experience and business case ROI material to ease the transition from an outsourced OFX provider to the TekPortal OFX server, installed at the FSP.
Additional product information can be downloaded. 
Contact Teknowledge for additional information
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