Investing While Driving: Here Today, Bigger Tomorrow Says New Report from Meridien Research; Financial Institutions Have a Major Opportunity With Telematics

    NEWTON, Mass.--Aug. 23, 2001--In just two years, millions of Americans could be trading stocks and doing their banking while driving, a new report from Meridien Research predicts.
    "The automobile is being transformed into the next mobile portal," analyst Christine Barry writes in one of the first research reports to take an in-depth look at the impact of "telematics" in financial services.
    Combining wireless, GPS and voice-recognition technology, telematics will be installed in 9 million vehicles by 2003, Meridien forecasts.
    Initially developed to provide driver assistance and emergency service, telematics is already used in financial services. Through a partnership between Fidelity Investments and OnStar, a General Motors subsidiary, owners of certain GM cars can now place trades, get balances and receive stock quotes through the push of a button and a few verbal commands.
    "Financial institutions have much to gain by partnering with telematics providers," Barry says. Institutions that don't follow Fidelity's lead ultimately could find themselves at a competitive disadvantage serving Americans, who average 540 hours a year in their cars.
    The report takes an in-depth look at the technology and promise of telematics and includes a case history of the Fidelity-GM partnership. It also covers ATX Technologies and Ford's Wingcast service, planned for a 2002 unveiling.
    Since telematics are voice-activated and hands-free, they aren't affected by new laws restricting cell-phone use while driving.
    More information about purchasing the report, "In-Vehicle Telematics: Objects in Mirror are Closer Than They Appear," can be obtained from sales@meridien-research.com or by calling 617-796-2800. A summary and a table of contents are available on www.meridien-research.com

    About Meridien Research

    Meridien Research of Newton, MA, provides analytical research services to users and providers of financial industry technology. Meridien Research targets three technology areas of strategic importance to financial services firms: eFinancial Services, Trading & Risk Management and Customer Relationship Management. Each practice delivers reports detailing new issues and challenges and uses its knowledge to advise clients in technology-related decisions. Visit www.meridien-research.com/press to register for announcements as new research becomes available. For media relations, contact Parallax LLC at 781.235.7025 or parallax@meridien-research.com.