CenCorp, a Leading Corporate Credit Union Processor, Joins Empire AndSunCorp in Selecting InteliData to Process Electronic Payments
RESTON, Va., Dec. 12 /PRNewswire/ -- InteliData Technologies Corp. (Nasdaq: INTD), a leader in Internet banking and bill payment technology, today announced that it has been selected by another of the top seven U.S. corporate credit union processors to provide electronic bill payment services to the 462 member credit unions it serves. Central Corporate Credit Union (CenCorp) of Southfield, MI, joins Empire Corporate Federal Credit Union of Albany, NY, and SunCorp Credit Union of Arvada, CO, in a consortium of processors who have chosen InteliData to provide electronic bill payment.
(Photo: newscom.com )
Collectively, the consortium provides services to over 1,750 member credit unions that in turn serve a member base of more than 10.7 million consumers. The combined asset base of these credit unions is in excess of $ 60 billion. InteliData will provide services to the group as an Application Service Provider (ASP), utilizing InteliData's Interpose(TM) Payment Warehouse System for housing, routing and processing of consumer payments. The terms of the contract include provisions for payments to InteliData on a transaction basis
InteliData President and CEO Al Dominick said, "The addition of CenCorp to the existing partnership InteliData enjoys with Empire and SunCorp extends the reach of a powerful, proven electronic bill payment system. We see the addition of CenCorp as validation of the decision Empire and SunCorp made earlier to attain the quick-start advantages of our ASP solution. We see the establishment of this consortium as further affirmation of the trend for financial institutions to take control of bill presentment and bill payment instead of relying on independent third party processors."
CenCorp's CEO, William Walby echoed Dominick's statement. "We were impressed by InteliData's proven experience in providing electronic bill payment systems in the corporate credit union sector. That experience gave us the comfort level we needed in choosing them as a strategic technology partner."
About CenCorp
CenCorp is a $1.7 billion financial institution that provides wholesale investment, credit and correspondent services to 462 credit unions, primarily in the state of Michigan.
About Empire Corporate Federal Credit Union
Empire Corporate is a $2.2 billion financial institution that provides wholesale investment, credit, payment and correspondent services to over 1,000 credit unions primarily in the Northeast. Empire has a national field-of- membership and is headquartered in Albany, NY, with branch offices in Warwick, RI, and Hightstown, NJ.
About SunCorp Credit Union
SunCorp is a $750 million financial institution, serving members throughout the nation, with primary focus in the Rocky Mountain and High Plains region. Dedicated to progressive, entrepreneurial and visionary goals, SunCorp fosters the success of its members through the express delivery of quality financial products such as investments, loans and correspondent services.
About InteliData (http://www.intelidata.com)
InteliData, with headquarters in Reston, Va., provides financial institutions with the critical, real-time financial processing infrastructure they need to Internet-enable their enterprise. Nine of the top 100 U.S. banks are customers of InteliData's current generation of Internet banking products and services, and twenty of the top 100 U.S. financial institutions and financial service providers have chosen InteliData's products and services for their electronic financial delivery.
InteliData has two complementary lines of business, which provide for both an end-to-end Internet banking solution, Interpose(TM) Connect, as well as a comprehensive electronic bill presentment and bill payment (EBPP) solution, the Interpose(TM) Payment Network. These solutions can be implemented either in-house or in an application service provider (ASP) environment. Interpose Connect is an industrial strength, scalable and reliable transaction and payment processing solution that provides real-time and fully synchronized connectivity to banks' systems of record. The Interpose Payment Network provides an end-to-end, bank-centric bill presentment and payment solution that gives banks the ability to process "on-us" transactions internally, take advantage of interbank exchanges like Spectrum, and leverage third-party payment processors.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the ability of the Company to complete implementations in required time frames and the Company's ability to increase its recurring revenues and profits through its ASP business model, the impact of competitive products, pricing pressure, product demand and market acceptance risks, pace of consumer acceptance of home banking and reliance on the Company's bank clients to increase usage of Internet banking by their customers, mergers and acquisitions, risk of integration of the Company's technology by large software companies, the ability of financial institution customers to implement applications in the anticipated time frames or with the anticipated features, functionality or benefits, reliance on key strategic alliances and newly emerging technologies, the ability of the Company to leverage its Spectrum relationship into new business opportunities in the EBPP market, the on-going viability of the mainframe marketplace and demand for traditional mainframe products, the ability to attract and retain key employees, the availability of cash for long-term growth, product obsolescence, ability to reduce product costs, fluctuations in operating results, ability to continue funding operating losses, delays in development of highly complex products and other risks detailed from time to time in InteliData filings with the Securities and Exchange Commission. These risks could cause the Company's actual results for 2000 and beyond to differ materially from those expressed in any forward looking statements made by, or on behalf of, InteliData.
SOURCE InteliData Technologies Corp.
CO: InteliData Technologies Corp.; CenCorp; Empire Corporate Federal Credit Union; SunCorp Credit Union
ST: Virginia, New Jersey, New York, Michigan, Colorado
IN: TLS CPR
SU:
12/12/2000 07:59 EST prnewswire.com |
