Corillian

About Corillian

Corillian Corporation carved a significant niche in the financial technology sector by providing a robust internet banking platform before its acquisition. Founded in 1997, the company went public on the Nasdaq in April 2000. It specialized in developing and marketing online banking software and services for financial institutions.

The firm's primary offering was the Corillian Online platform, a comprehensive digital banking solution that enabled banks and credit unions to provide a wide array of services to their customers. This platform was designed to be the core of a financial institution's digital ecosystem, integrating seamlessly with mobile and tablet channels. Its key features included capabilities for customers to view account balances and transaction details, pay bills, and transfer money, all from a single, intuitive interface. Corillian targeted its services toward small to large financial institutions, counting 30 of the top 100 U.S. banks and 21 of the top 100 U.S. credit unions as its clients. The business model centered on licensing its software and providing services in an Application Service Provider (ASP) environment, offering a cost-effective solution for its clients.

A key milestone in Corillian's history was its acquisition by CheckFree, a prominent US e-payments firm, in a deal announced in February 2007 and completed in May 2007. CheckFree acquired Corillian for approximately $245 million. This acquisition was a strategic move to combine Corillian's front-end online banking interface with CheckFree's established electronic billing and payment services, aiming to deliver a more integrated and efficient online banking experience. The combined entity served a vast market, including 21 of the top 25 financial institutions and over 40 million online banking consumers at the time of the acquisition. Following the acquisition, the Corillian Online platform continued to be developed and offered by CheckFree's subsequent parent company, Fiserv, remaining a relevant solution for financial institutions seeking to enhance their digital banking offerings.