US Web marketing software vendor BroadVision Inc has signed an agreement with Atlanta-based Security First Network Bank to add automated cross-selling capabilities and personalized marketing messages and content to Security First’s internet banking software. The agreement involves integrating Security First’s Virtual Financial Manager system with BroadVision’s One-to-One range of online marketing and relationship management software. The two companies have also signed a joint marketing and sales agreement for the combined software. In a related deal, Security First has bought a license to use One-to-One at its data center where a number of banking customers currently process their internet transactions. As part of their marketing agreement, each company will buy $3m of stock in the other during the third quarter of 1998, or after Security First closes the previously-announced sale of its internet banking operations to Royal Bank of Canada. Security First is also changing its name to Security First Technologies (S1). BroadVision’s One-to-One system has been adopted by a growing number of banks including Citicorp, Credit Suisse First Boston and Development Bank of Singapore. Security First has supplied Virtual Finance Manager, which offers a full range of banking and financial services functions, to 14 of the top 100 US bank holding companies. Redwood City, California-based BroadVision moved into profitability in its second quarter ending June 30 with net income of $693,000, compared to a loss of $2.1m a year earlier. After losing $499,000 in the first quarter of 1998, the company was left with a profit of $194,000 for the first half. Licensing deals with Cisco Systems and American Airlines, which are using One-to-One in their Web commerce systems, were the main cause of the move into profit. Revenues for the second quarter were $11.4m, against $6m in the second quarter of 1997 and $10.1m in the first quarter of 1998.
