SEATTLE - YourBankOnline.com Inc. has signed a letter of intent to buy Applied Logistical Technologies Inc. of Carlsbad, Calif. YourBankOnline was developed three years ago by River City Bank of Sacramento, Calif., in cooperation with Microsoft Corp.
Applied Logistical Technologies, an information technology company, sells proprietary financial application software to the transportation and logistics sector. ALT would help YourBankOnline.com set up and install YourBankOnline's software platform in banks worldwide.
YourBankOnline uses a central data warehouse to offer bank customers interfaces for financial management needs such as bill payment, online applications and approvals, real-time stock quotes, and traditional banking transactions.
"ALT is a successful, self-sufficient, ongoing business, and its addition to YBOL strengthens our existing technical infrastructure," said Pakie Plastino, chairman and chief executive officer of YourBankOnline.
