Secure communications channel facilitates rapid delivery of account information
Secure communications channel facilitates rapid delivery of account information
REDWOOD CITY, CA - June 14, 2000 - Tumbleweed® Communications Corp. (Nasdaq:TMWD), a leading provider of advanced email solutions for business communications, today announced that CommFinT, an innovative net market exchange that provides online financing for net market participants, has chosen Tumbleweed Integrated Messaging Exchange (IME) as its platform for secure online communications.
CommFin uses Tumbleweed IME, a platform and set of applications for creating secure communications channels between a business and its customers, partners, and suppliers, to create secure communication links between buyers and sellers of online exchanges and financial institutions. IME will facilitate online financing of transactions that are initiated and consummated in CommFin's unique online marketplace.
"CommFin understands that a secure communications channel is vital to winning and preserving customers in the Internet economy," said Tanis Hunt, Vice President of Business Development at CommFin.
"CommFin's success depends on secure, trackable online communication, as both online exchanges and financial institutions move rapidly to the electronic marketplace," said Jeffrey C. Smith, president and CEO, Tumbleweed Communications Corp. "We are delighted that CommFin has chosen to build its business on Tumbleweed IME."
CommFin provides an innovative marketplace in which buyers and suppliers of materials and products can seek optimum financing opportunities via CommFin's consortium of trade finance banks. The CommFin marketplace offers net market participants a simple, online solution to financing their physical net market transactions by providing them easy access to financial liquidity.
About CommFin
CommFin provides an innovative marketplace in which buyers and suppliers of materials and products can seek optimum financing opportunities via CommFin's consortium of trade finance banks. The CommFinmarketplace offers net market participants a simple, online solution to financing their physical net market transactions by providing them easy access to financial liquidity. Numerous financing options made available through CommFin allow suppliers access to financial liquidity at highly competitive prices, enabling them to quickly replenish their inventory without waiting for payment from potential buyers. Buyers will smooth their cash cycle by having the ability to more easily negotiate payment terms with their suppliers. The mutual benefits to buyers and suppliers alike will inevitably increase the volume of net market transactions.
About Tumbleweed Communications Corp.
Tumbleweed is a leading provider of solutions for managing secure communication and collaboration to enable the business Internet. Tumbleweed's robust policy-based framework empowers organizations to safely share and protect critical information, increase customer loyalty and privacy and dramatically reduce costs. Tumbleweed is trusted by 1,000 blue-chip customers including American Express, Chevron, Datek Online, the European Union's Joint Research Council, First Union Wachovia, John Deere, Merrill Lynch, Nike, Northern Trust, NTT, Salomon Smith Barney, Travelers and US Food and Drug Administration. One hundred of the Fortune 500 are Tumbleweed customers. Tumbleweed Communications was founded in 1993 and is headquartered in Redwood City, Calif., with offices around the world.
Except for the historical information contained herein, the matters discussed in this press release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected, particularly with respect to the security features of Tumbleweed's products and the activities of any third party. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. For further cautions about the risks of investing in Tumbleweed, we refer you to the documents Tumbleweed files from time to time with the Securities and Exchange Commission, particularly Tumbleweed's Form 10-K filed March 30, 2001 and Form 10-Q filed November 13, 2001. Tumbleweed assumes no obligation to update information contained in this press release.
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