Update on InteliData (INTD)
For INTD shareholders to become big winners, all the ducks have to line up in a row.
Yesterday, Citibank, a tremendous DUCK, just got in line.
Citibank joining Spectrum adds to the momentum of billers who will start presenting bills into the Spectrum switch.
Princeton eCom, Avolent, Metavante, and YourAccounts.com brought 200-250 billers into Spectrum. CitiBank, by itself will probably double that number.
To put this number into perspective, and to see how huge this is for Spectrum, CKFR claims 144 billers with 78 more in production.
Now what does all this mean for INTD?
Even if Citibank does what they usually do and rely on themselves to program their own connection into Spectrum rather than hire INTD, this announcement is great for Spectrum and great for EBPP adoption, so it's great for INTD.
Citibank has validated the Spectrum EBPP model.
All these bills that will now be available to consumers means that banks will need to start aggregating those bills for their retail customers. INTD is the first to market with a Spectrum-certified CSP, and that puts them in the best position to be chosen by any bank wanting to connect to Spectrum.
Yesterday's announcement is a BSP story. The CSP side is the next logical step.
Stay tuned.
GM
By the way, INTD just became marginable. |
