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Security First gets partners
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February 22, 1999: 9:04 a.m. ET
Hewlett Packard, Andersen invest in online financial services applications
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NEW YORK (CNNfn) - Security First Technologies Corp., an Atlanta-based provider of Internet-based financial services applications, announced new contracts and equity investments Monday from two major companies, Hewlett Packard Co. and Andersen Consulting.
Security First (SONE) said Hewlett Packard will invest $10 million as part of their strategic alliance. The two companies will jointly develop applications for financial services companies, including the provision of detailed account information, comprehensive financial planning services, electronic bill payment, online retailing, and personal interest information.
Security First will use HP (HWP) products as its development platform. HP will include Security First in a marketing campaign to financial services providers.
With Andersen Consulting, Security First said it will develop Internet processes to allow businesses to leverage new technologies and increase speed to market. Andersen is investing $4 million in Security First, best known for its Virtual Financial Manager suite of financial services software products.
Security First's market capitalization is valued at $555 million. Its shares closed up 4-7/16 Friday at 48-3/8. 
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