A new growth industry:
There is a sea change going on in the way that consumers will be receiving and paying their bills.
Check writing will decrease as more and more people start receiving and paying their bills electronically. IMO, InteliData (INTD) is positioned to become the leader in this brand new growth industry.
While other companies have focused their resources on writing the competitive low margin 'front end' software, INTD concentrated on the high margin less competitive growth area at the middle and 'back end' that makes the electronic bill presentment and bill payment (EBPP) solution work. The company believes that it has positioned itself to eventually "be inside every transaction." With 18 billion bills being presented annually, that's not too shabby!
Their management reads like a Who's Who in Banking. Board members include William Gorog (economic advisor to President Ford, and founder of Lexus Nexus); Norm Tice (Chairman emeritus of MasterCard); and Bill Seidman (CNBC chief commentator and host of "Seidman Says".)
InteliData has $23 million in cash, no debt, and will be profitable in mid 2002 or sooner.
Adoption rate of EBPP is expected to increase dramatically, and INTD's business is based on a "per click" recurring revenue model. The industry penetration is around only 1%, so there is nothing but growth ahead.
Their business alliances reads like a "Who's Who" of the Financial Services industry, and new accounts are expected to be announced shortly. InteliData has a major presence in the brick and mortar banks as well as in the web based portals. They serve the Credit Union industry, and their presence in the Insurance and Brokerage industry is about to expand dramatically.
INTD has never had a major analyst cover them, and as of now, nobody on the Street even has an opinion on them. With significant announcements such as the ones below, that ties INTD in with some of the largest banks and players in the country, this lack of coverage should change very shortly.
Good luck to anyone else who sees what I see.
GM
(Below are 4 recent news releases that hint of just a part of InteliData's future potential)
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InteliData Announces Certification Agreement With Spectrum; InteliData to be a certified provider connecting Financial Institutions to Spectrum
RESTON, Va.--(BUSINESS WIRE)--May 21, 2001--InteliData, a leader in Internet banking and bill payment technology, today announced an agreement with Spectrum EBP to become a certified provider of solutions to connect banks to the Spectrum electronic bill presentment and payment network.
The agreement with Spectrum, a bank-owned payment system utility that routes electronic bills and payments between billers and consumers, will allow InteliData to certify its InteliWorks CSP (Consumer Services Provider) Server for payment and presentment with Spectrum.
The InteliWorks CSP Server, which helps banks to collect and warehouse bills from multiple billers and biller service providers (BSPs) and then warehouse and route the associated payments, will give banks the ability to deploy a turnkey solution. Spectrum, in turn, will provide connectivity to multiple billers and BSPs through its open network and directory system.
"In the last 6 months Spectrum has developed a critical mass of biller and consumer reach along with some very compelling economics," said Al Dominick, president and CEO of InteliData, "This has created a rising tide of demand for an open, EBPP solution that gives banks greater control of their customer relationships."
Commenting on the agreement, Ron Braco, COO and President of Spectrum said, "We are pleased InteliData has chosen to certify their solution with Spectrum. InteliData has a solid track record of providing well-designed payment systems and OFX solutions and has been an important participant in the development of the Spectrum switch. InteliData has made a significant investment in the creation of -a well-rounded CSP solution that will enable Spectrum members to leverage the power of the Spectrum payment and presentment network."
The CSP Server will be available either as an in-house solution or as an ASP (Application Service Provider) solution and will support both OFX and IFX messages. The InteliWorks CSP Server is built on a J2EE-based transaction processing platform to provide unsurpassed deployment flexibility while ensuring reliable, scalable, and secure operations.
About InteliData
InteliData provides Internet banking and Electronic Bill Payment and Presentment (EBPP) technology and services to banks, credit unions, and financial institution processors. InteliData's EBPP products offer banks and other financial institutions an end-to-end solution for creating e-bills for billers, distributing e-bills and e-payments through multiple delivery channels, delivering e-bills to consumers, and enabling payment of bills through multiple payment processors utilizing OFX and IFX messaging standards.
InteliData's Internet banking products provide large financial institutions throughout the U.S. with unsurpassed scalability, flexibility and security in supplying real-time, Internet based banking services to their customers. For more information about InteliData, visit the company's Web site at intelidata.com
About Spectrum
Spectrum is an independent company fully owned by J.P. Morgan Chase & Co. (NYSE:JPM,), First Union Corporation (NYSE: FTU - news) and Wells Fargo & Company (NYSE: WFC - news). Formed to facilitate the exchange of electronic bills and payments, Spectrum's mission is to provide a secure, open and interoperable infrastructure to electronically link consumer and biller service providers.
Additionally, Spectrum seeks to provide value to its participants by providing superior service and reducing overall bill presentment and payment costs. Spectrum does not host any bills directly, nor does it retain any bill details. Including the three founders, 22 financial institutions currently belong to the Spectrum network or have signed letters of intent to participate in the network. More information on Spectrum can be found at www.spectrumebp.com.
CONTACT:
InteliData
Magnet Communications
Gail Richardson, 212/367-6936
E-mail :grichardson@magnetcom.com
or
Spectrum
Weber Shandwick Worldwide
Mary Catherine Bassett, 404/266-7568
E-mail: mbassett@webershandwick.com
KEYWORD: VIRGINIA DISTRICT OF COLUMBIA
BW2384 MAY 21,2001
7:32 PACIFIC
10:32 EASTERN
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Princeton eCom Acquires Intuit's Quicken(R) Bill Manager
To Become Bill Payment, Presentment and Distribution Provider for Quicken.com
PRINCETON, N.J., May 16 /PRNewswire/ -- Princeton eCom, the first company to present a bill online, announced today that it has acquired Quicken(R) Bill Manager, Intuit's online bill presentment and payment service, in a long-term strategic relationship with Intuit in which it will process payments for customers utilizing the industry leading Quicken(R) personal financial management software.
"This acquisition will help to advance adoption of online billing and payment services by consumers, billers and financial institutions," said Curt Welling, Princeton eCom's CEO. "It marries the power of Quicken's leading consumer brand with Princeton eCom's experience and expertise in presenting bills and processing payments online and offering consumers anytime, anywhere bill paying convenience. The combination of trusted brand names and quality services will remove many of the obstacles that have held back widescale adoption and prevented banks, billers and consumers from enjoying the convenience, cost effectiveness and potential marketing capabilities of online billing and payment services."
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Princeton eCom to Distribute Bills Through Spectrum EBP
PRINCETON, N.J., May 22 /PRNewswire/ -- Princeton eCom, the first company to present a bill online, today announced a strategic bill distribution agreement with Spectrum EBP, LLC, a bank-owned payment system utility founded by J.P. Morgan Chase & Company, First Union Corporation and Wells Fargo & Company that routes electronic bills and payments between billers and consumers.
The agreement will enable Princeton eCom to distribute its biller clients' electronic bills to the estimated 4.7 million on-line consumers served by Spectrum's member financial institutions.
"Our recent acquisition of Quicken Bill Manager and our strategic agreements with Spectrum and Intuit enable Princeton eCom to distribute our clients' bills through the top financial institutions and Web portals," said Curt Welling, Princeton eCom's CEO. "This is another step forward for the concept of universal bill distribution and the use of open technology standards which allow consumers to view and pay their bills anywhere, anytime."
Welling said he expected Spectrum to continue to gain momentum.
"We fully expect Spectrum to be a vital channel for electronic bill distribution in the future and we're pleased to be able to offer this capability to our clients," Welling said.
"We're very pleased to provide a distribution channel for Princeton eCom's biller clients," said John Perry, Spectrum's Chairman and CEO. "Increasing the number of bills available to consumers online will certainly help drive consumer adoption rates. Princeton eCom represents more than 50 major billers and will add significant content to the Spectrum membership."
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Princeton eCom Implements InteliData's OFX Bill Payment Solution To Enhance Service Offerings
Princeton eCom to use InteliData Software to Support Intuit's
Quicken and Quicken.com
RESTON, Va., May 23 /PRNewswire/ -- InteliData Technologies Corp. (Nasdaq: INTD), today announced that Princeton eCom has successfully implemented InteliData's Interpose OFX Gateway Solution to support bill payment and presentment services via Intuit's (INTU) Quicken(R),(R) Quicken.com and other Intuit financial web sites. In addition, the solution will be used to support financial institutions and financial portals, which use Princeton eCom's bill payment and presentment services.
InteliData's Interpose OFX Gateway provides a comprehensive solution for banks and financial service providers looking to offer standards-based connectivity to their customers. The Interpose OFX Gateway supports connectivity to a wide variety of access channels including financial institution Web sites, account aggregation Web sites, and personal financial management (PFM) software such as Quicken and QuickBooks. In addition, the solution supports a broad array of financial transaction types, including banking, bill payment, bill presentment, investment and brokerage and credit card transactions.
Ronald W. Averett, President and COO of Princeton eCom said, "This implementation has enabled Princeton eCom to quickly expand the bill payment services we currently offer. "InteliData is the leading provider in the industry, offering an end-to-end technology solution for OFX-based bill payment and presentment. "Thanks to InteliData's comprehensive payment warehousing capabilities, we are now able to offer direct support for OFX- based channels."
"InteliData's OFX expertise and quality implementations have a proven track record," Averett added, "the OFX Solution has the superior performance capabilities needed to serve our largest customers."
"Our OFX Solution is an ideal fit for Princeton eCom because they were looking for a solution that not only provided the OFX support their customers were asking for, but also included payment warehousing capabilities to provide a complete solution" said Al Dominick, President and CEO of InteliData'. "InteliData has historically been strong in developing payment warehousing and processing software, which makes us the perfect partner for Princeton eCom."
About InteliData
InteliData provides Internet banking and Electronic Bill Payment and Presentment (EBPP) technology and services to banks, credit unions, and financial institution processors. InteliData's EBPP products offer banks and other financial institutions an end-to-end solution for creating e-bills for billers, distributing e-bills and e-payments through multiple delivery channels, delivering e-bills to consumers, and enabling payment of bills through multiple payment processors utilizing OFX and IFX messaging standards. InteliData's Internet banking products provide large financial institutions throughout the U.S. with unsurpassed scalability, flexibility and security in supplying real-time, Internet based banking services to their customers. For more information about InteliData, visit the company's Web site at intelidata.com .
About Princeton eCom
Princeton eCom, the first company to present a bill on the Internet, is a leading provider of electronic billing and payment services to more than 1,000 corporations, banks, financial institutions and payment partners including Ameritech, GMAC Mortgage, United Technologies, UPS, Mellon Global Cash Management, Verizon Wireless, Cellular One, Corillian, S1, FiServ, and Jack Henry.
Princeton eCom recently acquired Quicken Bill Manager from Intuit as part of a long term strategic alliance with Intuit in which Princeton eCom will provide payment processing services to Quicken.com and Quicken Desktop customers. Additionally, the company has the right to market electronic billing and payment services using the Powered by Quicken Bill Manager brand.
Princeton eCom's distribution network includes the largest personal financial management software, the largest Web portal, Spectrum, home banking software providers, and networks like MasterCard RPPS.
Princeton eCom enables businesses to present their consumers' bills and their business invoices on the Internet and it provides consumers and businesses with the ability to access and pay those bills online, over the phone, or using a wireless digital device. It also provides electronic payment processing services to banks, credit unions, and other financial institutions. Princeton eCom's range of services includes electronic lockbox, electronic collection, and electronic credit card balance transfer services as well as customer care and customer service programs. Additionally, through a strategic alliance with Trintech, LLC, Princeton eCom provides card processing capabilities on an outsourced basis and has international capabilities.
Princeton eCom is a privately held company. Major investors include New Century Equity Holdings Corp. (Nasdaq: NCEH), Mellon Ventures, the private equity partnership of Mellon Financial Corporation (NYSE: MEL), SG Capital Partners LLC, the U.S. merchant banking affiliate of Societe Generale, Bottomline Technologies, Terra Lycos Ventures L.P., a venture capital fund affiliated with Terra Lycos, Inc. (Nasdaq: TRLY), and BT Investment Partners, Inc.
Additional information about Princeton eCom can be obtained at princetonecom.com .
SOURCE InteliData Technologies Corp.
05/23/2001 11:43 EDT prnewswire.com
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Please do your own due diligence, read all the blue sky stuff, and visit the Yahoo! InteliData Club message board where there is a nice exchange of information on a daily basis.
clubs.yahoo.com
(The Yahoo! club board is more active than the SI board.)
GM |
