Quality.
From what I understand, the Big Banks recognize CheckFree's dominance in the bill payment industry (CheckFree is the leader by a wide margin). Since many of the Big Banks help give CheckFree this leadership position, they are expecting nothing but exceptional quality, and while many of us have had great experience with CheckFree, we do not know any of the quality stats (% of bills missed, # of calls to help desk, etc.). Therefore, It's really hard for us to judge the level of quality (especially the level perceived by the Big Banks).
In my opinion CheckFree does have good quality, but the Big Banks are looking for more. With Genesis and the Visa deal there should be a dramatic improvement in consistency and the number of electronic payments, both of which will represent improvements in quality. In addition, quality is like links in a chain, the chain is only as strong as its weakest link, therefore, CheckFree needs to improve the quality at every point in the cycle (help desk, etc). While the level of On-line Banking products improve, so must the level of Quality.
Benny(IMHO) |
