Bottomline Technologies Software Selected By UK's Largest Insurance Group,
CGNU; Bottomline-UK, Formerly Checkpoint Holdings, Ltd., to Help CGNU Automate
Financial Operations
Business/Technology Editors
READING, England--(BUSINESS WIRE)--Jan. 30, 2001--Bottomline
Technologies(R) (NASDAQ:EPAY), the premier provider of Web-enabled
billing, payment, and electronic banking solutions, today announced
that CGNU, UK's largest insurance group, has selected Bottomline's
software to streamline both their payments and collections services.
The selection came through the efforts of Bottomline-UK, formerly
Checkpoint Holdings, Ltd., which was acquired in August 2000.
The merger of CGU Life and Norwich Union Life earlier this year,
brought together two major insurance organizations to create CGNU -
the UK's largest insurance group with 15 million customers. CGNU is a
top five European provider of life insurance and the world's sixth
largest insurance group based on gross worldwide premiums.
CGU Life's key business processes, with a wide range of products
and services, required a large variety of payments and collections
from different business units to fulfil predefined service level
agreements.
"The implementation of Checkpoint's i-Point solution provides us
with the scalability and power that the former CGU Life required to
maintain top level service whilst reducing overheads for better
shareholder return," - Lawrence Peet, Head of Financial Services,
Norwich Union Life.
CGU Life and its wide range of products and services meant that a
large variety of payments and collections were made from different
contract management systems and business locations. Bottomline-UK was
asked to provide the i-Point solution as part of CGU Life's strategy
to streamline its payment and collection processes.
Using i-Point they will be able to outsource their cheque
production through CheckPay, produce ad hoc payments in house and
develop renewal notice printing. (The printing element of the
collections processes has been developed in conjunction with HSBC's
Lockbox service.) The i-Point enterprise-wide solution provides the
very latest in payment and collection efficiency, whilst ensuring the
highest quality customer service for clients.
As Mr. Peet confirms, "The implementation of the i-Point solution,
has helped us to progress our strategy of ensuring that we provide the
most efficient service possible to our clientele. We are looking
forward to developing further our use of i-Point following the launch
of the new company, CGNU, to help achieve our merger savings."
"Our unique payment and collection solution provides CGNU with a
platform to streamline their current key business processes allowing
them to realise significant savings from their merger," said Peter
Fortune, President of Bottomline-UK. "CGNU's current aims are achieved
whilst providing them with a platform that will allow them to rapidly
deploy new e-commerce processes as their project develops."
"Our acquisition of Checkpoint provides us with an enormous
opportunity to combine industry knowledge, expertise and products in
order to better serve our global customer base," said Dan McGurl,
chairman and CEO of Bottomline Technologies. "We are very pleased with
the synergies that we've developed through the acquisition and we look
forward to providing additional industry-leading solutions to premier
organizations such as CGNU."
About CGNU
CGNU's principal business activities are long-term savings,
general insurance and fund management. CGNU is the world's sixth
largest insurance group, a top five European life insurer and the UK's
largest insurance group. It has more than 15 million customers
worldwide and over (pound)200 billion of assets under management. For
more information visit www.cgnu-group.com.
About Bottomline Technologies
Bottomline Technologies(R) (NASDAQ: EPAY) is the leading provider
of Web-enabled billing, payment, and electronic banking solutions for
the business-to-business market. Bottomline's three integrated
e-business offerings enable corporations and financial institutions
worldwide to integrate, automate, and streamline the entire financial
supply chain. PayBase(R) provides a pathway from traditional paper
checks to electronic payments, as well as sophisticated messaging,
remittance, and anti-fraud tools. NetTransact(TM), the Company's
business-to-business bill presentment and payment suite, enables
enterprise billers and their trading partners to electronically
present, adjudicate, and pay bills on-line. Bottomline's BankQuest(TM)
is a corporate and institutional browser-based electronic banking
platform that provides information reporting and transactional
services for cash management, trade finance, and securities
processing. Today, Bottomline's offerings are utilized by over 5,500
organizations representing every major industry sector. Founded in
1989, Bottomline maintains its corporate headquarters in Portsmouth,
NH and international headquarters in Reading, England. Bottomline also
has satellite offices located in most major cities. For more
information, dial (800) 243-2528 or visit Bottomline on the web at
www.bottomline.com.
Cautionary Language
This press release may contain forward-looking statements that
involve risks and uncertainties, including statements regarding
expected benefits of use of the Company's products and future growth
or results. Among the important factors which could cause actual
results to differ materially from those in the forward-looking
statements are competition, market demand, technological change,
strategic relationships, recent acquisitions, international operations
and general economic conditions. For additional discussion of factors
that could impact Bottomline Technologies' financial results, refer to
the Company's Form 10K filed September 2000 and Form 10Q filed
November 2000.
--30--mb/bos*
CONTACT: Bottomline Technologies
Tim Aberle, 603-559-5246
taberle@bottomline.com
KEYWORD: INTERNATIONAL EUROPE UNITED KINGDOM
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS BANKING INSURANCE
SOFTWARE E-COMMERCE
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
*** end of story *** |
