InteliData Announces Strategic Alliance to Market On-Line Bill Payment and Bill Presentment Software and Services to Top 100 Banks
RESTON, Va., May 7 /PRNewswire-FirstCall/ -- InteliData Technologies Corp. (Nasdaq:INTD) and ALLTEL today announced their agreement to jointly market and sell InteliData's and ALLTEL's Electronic Bill Payment and Presentment (EBPP) products and services into their respective markets under a revenue sharing agreement. Under the terms of the agreement, ALLTEL will provide data center operations and ASP services, as well its Rhapsody Biller Service Provider (BSP) technology, and InteliData will provide it's industry leading bill payment and presentment technology, resulting in an end-to-end solution that can be deployed in-house or in an ASP environment.
(Photo: newscom.com )
"This joint sales and marketing agreement represents a significant opportunity for both companies," said Al Dominick, InteliData's President and CEO. "Forty-seven of the top 50 U.S. banks and hundreds of mid-size banks rely on ALLTEL's products and services today. Those banks and their customers will now have quick, easy and cost-effective access to a complete end-to-end EBPP system, so their customers can receive and pay bills from the bank's website instead of by mail."
The products included in the agreement are InteliData's Interpose Web Bill Payment, Transaction Engine, and Payment Warehouse and "InteliWorks" Consumer Service Provider (CSP) products operated in an ASP environment. This ASP solution facilitates the flexibility and rapid implementation banks seek, and will be targeted toward the large group of financial institutions that ALLTEL now services at their data centers and at on-site bank facilities.
Beth Robertson, senior analyst for the eBanking practice at Tower Group said, "With a share of the more than $1.4 billion of real cost savings available to banks that fully adopt EBPP, collaborations such as this that lower the barriers to adoption are very positive steps."
About InteliData
With over a decade of experience in the industry, InteliData provides Internet banking and Electronic Bill Payment and Presentment (EBPP) technology and services to top banks, credit unions, and financial institution processors. InteliData's Internet banking products provide large financial institutions throughout the U.S. with proven scalability, flexibility and security in supplying real-time, Internet based banking services to their customers. InteliData continues to lead the charge as the industry moves towards electronic bill presentment and payment (EBPP) with the development of its end-to-end, Biller-to-Consumer EBPP solution, InteliWorks(TM). For more information about InteliData, visit the company's Web site at intelidata.com
"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, our ability to continue funding operating losses, our ability to manage our expenses in line with anticipated business levels, the ability of the Company to complete product 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, the effect of general economic conditions on the financial services industry, 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, 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 2002 and beyond to differ materially from those expressed in any forward looking statements made by, or on behalf of, InteliData. InteliData is not under any obligation (and expressly disclaims an obligation to) update or alter its forward-looking statements, whether as a result of new information or otherwise.
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SOURCE InteliData Technologies Corp.
CO: InteliData Technologies Corp.; ALLTEL
ST: Virginia
SU: JVN
prnewswire.com
05/07/2002 07:31 EDT |
