MCI Systemhouse, NETdelivery Form Electronic Billing and Payment Partnership Electronic Bill Presentment, Delivery and Payment Solutions Leverage MCI's Convergence Capabilities
May 6, 1998
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LAS VEGAS, May 5 /PRNewswire/ via NewsEdge Corporation -- MCI Systemhouse, MCI's global information technology company, and NETdelivery Corporation today jointly announced a strategic partnering agreement to provide secure Internet-based electronic billing and payment solutions to banks and other financial institutions and businesses.
The offerings leverage MCI Systemhouse's systems integration and customer care capabilities, the internetMCI suite of products and services and NETdelivery's Electronic Delivery Management (EDM) software applications to enable financial institutions, banks and consumers to organize, manage and pay bills via the Internet.
"MCI Systemhouse and NETdelivery are providing financial institutions with an electronic-based billing and payment system that shortens payment cycles and lowers transaction and mailing costs, while enabling consumers to pay any bill with a few simple keystrokes," said Scott Andersen, operating executive of MCI Systemhouse's Commercial Sector.
"We are delighted to add the many strengths of MCI to the technical solution NETdelivery has developed," said Dick Stranger, NETdelivery president. "Our teaming relationship provides the industry with a unique and compelling solution especially well-suited for financial institutions. "
Industry estimates place the total value of paper-based transactions during 1997 at some $3 trillion, with the size of an average check from consumers and businesses pegged at approximately $170. The electronic presentment, delivery and payment of bills, via the World Wide Web, can quickly yield substantial savings and high dollar value at a very low capital entry point.
BUSINESSES AND CONSUMERS TO BENEFIT FROM ON-LINE PAYMENT SOLUTION
The MCI Systemhouse/NETdelivery solution features an open architecture to allow integration with any existing system at financial institutions. It features customizable modules for use within retail and wholesale institutions, as well as insurance and securities companies.
Inherent features of the partners' electronic bill presentment & payment (EBPP) offering addresses the specific needs of both retail and wholesale customers. Specifically, the solution enables:
* Statement generation
* Electronic payment of bills
* Loan and credit card processing
* Combinations of deposits, check processing and PC banking
* "One-click" ordering
The benefits of electronically conducting these and other transactions are many fold, for financial institutions, billers and consumers alike:
* Electronic bill processing averages 80 cents, compared to $1.35 for a
paper-based transaction
* Convenient billing and payment fosters institutions' relationships with
consumers and billers
* Strong institutional branding and awareness within the financial
community
* Consumers conduct transactions online, saving time and improving bill
management
* Refined, timely cash management
* Improved communication among billers, financial institution and
consumers
* Enhanced control over customer data
The partnership between MCI Systemhouse and NETdelivery was formed in response to financial institutions' search for new solutions that enhance their competitive positioning, while facilitating customer service.
In addition to the current availability of EBPP to address the billing and payment requirements of banks, financial institutions and large businesses, MCI Systemhouse and NETdelivery will provide additional applications in the smaller business-to-business market where Electronic Data Interchange (EDI) is often too expensive for routine payments. The fact that the MCI Systemhouse/NETdelivery solution is web-based and secure presents opportunities for large financial institutions and smaller businesses alike.
Founded in 1995 and headquartered in Boulder, Colorado, NETdelivery Corporation developed and patented the Electronic Delivery Management(TM) (EDM(TM)) technology enabling electronic delivery of personalized information directly to a customer's desktop. Today, the company is a leader in the emerging electronic billing and payment market. The company's products and services offer electronic delivery that lowers costs for businesses, adds convenience for consumers and enhances one-to-one relationships between businesses and their customers.
MCI Systemhouse, The Network Enterprise Company, is MCI's global information technology services company. The industry's only single-source provider of convergence products and services that address businesses' total networking, communications and consulting needs, MCI Systemhouse has 120 offices and approximately 9,400 professionals worldwide. With a comprehensive offering of Network Enterprise solutions and services for the new millennium, MCI Systemhouse serves major corporate, mid-sized and public sector clients throughout North and South America, Europe and Asia.
SOURCE MCI Systemhouse
/CONTACT: Tim Grace of MCI Systemhouse, 312-260-3230; or Laura Reed of
NETdelivery, 303-245-0071/
/Web site: systemhouse.mci.com
/Web site: netdelivery.com
(MCIC)
[Copyright 1998, PR Newswire]
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