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Press Release
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iRise and Visa International announce global strategic alliance
With Emphasis on Innovation, Alliance Enables Visa and iRise to Explore Ways to Quickly Enhance Business Application Development Process
EL SEGUNDO, Calif. -- October 7, 2003 - Visa International and iRise, a leading enterprise software and services company dedicated to improving the process of defining business applications, today announced that the two companies have entered into a two-year global strategic alliance.
As part of the alliance, Visa and iRise will explore opportunities to enhance Visa's product platform and technology development processes as well as consider customization of iRise technology solutions to serve the unique needs of the payments and financial services industries. The relationship calls for the companies to identify application development initiatives within Visa that would benefit from iRise's application definition technology.
The iRise Application Simulator™ platform enables business analysts to create a functionally-rich, data-aware, interactive simulation of Web-based applications without a single line of code, allows business users to use and test software prior to development, supports remote collaboration in the requirements definition process, and can eliminate up to 40 percent of development costs overall.
"As the pervasiveness of technology continues to increase in the world of commerce, we recognize that technology leadership and partnership are crucial to our success," said Sarah Perry, senior vice president, Strategic Alliances and Investments, Visa International. "In today's environment, companies must quickly develop and deliver new capabilities that provide compelling business advantage. This new alliance will explore using iRise technology to build our vision of Universal Commerce, a world where buyers and sellers can conduct commerce anywhere, anytime and in any way they choose."
"We are pleased that Visa sees the potential of including iRise as part of its continuing commitment to technology innovation," said Emmet B. Keeffe III, CEO, iRise. "iRise offers solutions that reduce the overall the cost and risk associated with business application development while dramatically improving their value. Through these kinds of innovative solutions, Visa can further differentiate itself as the premier technology provider of global payments products and services."
About Visa
Visa is the world's leading payment brand, generating US $2.7 trillion in annual card sales volume. Visa has unsurpassed acceptance in more than 150 countries. The Visa organization plays a pivotal role in developing innovative payment products and technologies to benefits its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce - the ability to conduct commerce anywhere, anytime, and any way. For more information, visit www.corporate.visa.com.
About iRise
iRise® is dedicated to bridging the communication gap between business and IT by improving the process of defining business applications. Using iRise Application Simulator, the first Application Definition platform, business users can simulate and validate Web-based applications prior to development, dramatically improving their value while reducing development time and cost. With the same focus, its services group has successfully translated the needs of business users into Web-based applications for more than 100 customers on 300 engagements. The company is based in El Segundo, Calif., with offices in New York and San Francisco. For more information, visit www.irise.com.
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