Are we cookin' or what???
Bill Presentment Services Will Span Consumer and Corporate Markets
PITTSBURGH, Sept. 10 /PRNewswire/ -- PNC Bank has announced plans to pilot
Internet-based delivery of electronic bill presentment and payment services to
consumers of its various financial products, extending the bank's innovation
in electronic commerce into the emerging electronic bill presentment and
payment marketplace.
The Bank's biller integration services will be developed through a series
of pilots. Corporate customers and internal bank billers will participate in
the projects. An initial bill presentment service will be developed through a
pilot with Xerox Corporation (NYSE: XRX), via an initiative that was announced
last week.
MSFDC, a leading developer of Internet bill delivery and payment services,
and a joint venture of Microsoft Corp. (Nasdaq: MSFT) and First Data Corp.
(NYSE: FDC), will provide Internet bill delivery services for Xerox's small
business segment. PNC Bank will offer remittance processing capabilities to
integrate MSFDC payment information into receivables files for Xerox.
PNC Bank's internal billers will pilot the services of CheckFree
Corporation, a leading electronic bill presentment and payment processor that
currently services PNC Bank's Online Financial Services bill payment
customers.
Integrion Financial Network, a provider of electronic financial services,
of which PNC Bank is an owner, will deliver platform support for the internal
biller presentment pilot, targeted for delivery in 1999. Integrion currently
provides the platform for PNC Bank's Online Financial Services business
segment, including Account Link, which was launched in June. Future plans
include the use of Integrion's Interactive Financial Services (IFS) platform
as a collection point for electronic bills originating from a variety of
presentment service providers.
"Our focus is on our customers. We will respond to their diverse needs,
and encourage our business partners to recognize their requirements as well,"
said Daniel J. Pavlick, director, Electronic Commerce, PNC Bank. "A PNC Bank
cross-organizational team developed this plan to ensure that all customer
needs would be fully addressed, be they corporate or consumer-based concerns."
PNC Bank's Treasury Management group will work with corporate customers
and internal billers to offer integrated presentment, payment and receivables
management services. Services will be designed to incorporate data from
MSFDC, CheckFree, and other viable bill presentment models as they are
developed.
"These initiatives are evidence of our commitment to offer a complete
suite of services for electronic billing and remittance processing," said
Francine Miltenberger, division executive, PNC Bank Treasury Management. "By
engaging with MSFDC and CheckFree, we position ourselves to offer services to
a broad set of billers," Miltenberger explained.
Xerox Corporation is the global leader in the document processing
business, providing the widest array of products and consulting services in
the industry. Xerox markets its publishing systems, copiers, printers,
scanners, fax machines and document management software in more than
130 countries. Xerox products and services are designed to help customers
master the flow of information from paper to electronic forms and back again.
PNC Bank Corp. (NYSE: PNC), headquartered in Pittsburgh, is one of the
largest diversified financial services organizations in the United States.
Its major businesses include Regional Community Banking, National Consumer
Banking, Mortgage Banking, Private Banking, Asset Management, Mutual Fund
Servicing, Corporate Banking and Secured Lending.
Visit PNC Bank on the World Wide Web at pncbank.com
SOURCE PNC Bank Corp.
-0- 09/10/98
/CONTACT: Jonathan Williams of PNC Bank, 412-762-4550, or e-mail,
jonathan.williams@pncbank.com/
/Company News On-Call: prnewswire.com
or fax, 800-758-5804, ext. 701257/
/Web site: pncbank.com
(PNC XRX MSFT FDC CKFR)
CO: PNC Bank Corp.; Xerox Corporation; Microsoft Corp.; First Data Corp.;
CheckFree Corporation; Integrion Financial Network
ST: Pennsylvania
IN: FIN MLM
SU: PDT
MZ
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