Thursday May 6, 11:52 am Eastern Time
Company Press Release
SOURCE: Edify Cooperation
Dollar Bank Joins With Edify and TransPoint to Offer One-Stop Electronic Bill Payment and Presentment
First to Pilot New Financial Services Portal Implementation From Edify Combining Internal and External Payments
LAS VEGAS, May 6 /PRNewswire/ -- At the BankNet InvestNet VI conference Edify Corporation (Nasdaq: EDFY - news), a global leader providing Internet and voice e-Commerce solutions, announced that its customer Dollar Bank, Pittsburgh, PA, intends to be the first financial institution to use Edify's Electronic Banking Systems (EBS) to pilot TransPoint's Internet Bill Delivery and Payment (IBDP) solution. Dollar Bank has licensed Edify's recently-introduced Electronic Bill Payment and Presentment suite and will use that as the foundation for presenting internal and external bills to its customers, providing them with a comprehensive Web portal for all their financial transactions.
''Bills are great content that will help financial institutions to generate repeat traffic to their portal sites,'' said William Soward, vice president business development at Edify. ''Our goal is to help our customers maximize the number of bills they present by connecting into bill consolidators like TransPoint as well as directly into a bank's internal billing systems.''
According to a recent study by PSI Global, 57 percent of the leading billing industries (insurance, communications, credit card, lending and utilities) already offer or have investigated EBPP options.
''By implementing EBPP within our existing Edify Electronic Banking System, we are achieving cost advantages while at the same time offering a unique 'financial portal' to our customers,'' said James Pratt, Director of Information Technology at Dollar Bank, Pittsburgh, PA.
The Tower Group has estimated that financial institutions incur a cost of $.30 to $.50 to send and process their internal bills. In total, banks incur costs of $2.9 billion in check processing and internal billing. Edify's EBPP solution directly impacts this expenditure by considerably reducing the cost per transaction.
The EBPP solution is part of Edify's EBS (Electronic Banking System), Release 3 of which began shipping to financial institutions in April 1999.
Added Lewis Levin, president and chief executive officer of TransPoint, ''This announcement is further evidence that momentum around bill presentment is starting to build. Together with partners such as Edify and financial institutions like Dollar Bank we are putting the infrastructure in place to support the incredible demand we anticipate for our e-bills technology.''
Edify leads in consumer and business banking portal solutions, with more than 100 licensed banking customers worldwide, including Chase Manhattan Bank and Australia and New Zealand Banking Group Limited. Edify has also provided its Electronic Banking System to leading Internet-only banks such as Net.B@nk. Edify is in the forefront of capitalizing on electronic commerce opportunities, with the recent delivery of its groundbreaking Electronic Banking System Release 3 Business and Consumer Banking Suites. The Consumer Banking Suite features the industry's first comprehensive Electronic Bill Payment and Presentment solution. The Business Banking Suite (BBS) is designed with a complete collection of application modules to anchor a Web portal for a bank's business customers. BBS is a vehicle for financial institutions to manage their entire customer relationships, including cash management, loans, 401(k) and value-added services, by integrating marketing, sales management, account administration and customer service with Web, phone and fax-based delivery.
About Edify
Edify, headquartered in Santa Clara, California, is a global leader in providing Internet and voice e-Commerce portal solutions that help companies intelligently manage customer relationships across the enterprise. The company's software offers organizations the means to automate, integrate, and personalize interactions with customers and employees through multiple channels, yielding stronger, more profitable relationships. The company's software has been licensed to more than 1250 organizations worldwide. Edify software is distributed directly and through leading solutions providers, application partners, and distributors around the world. With more than 470 employees, Edify Corporation is headquartered in Santa Clara, California with international headquarters in London, England. Additional information about Edify may be obtained by calling 408-982-2000 (USA) or 44-181-263-2710 (Europe, Middle East, Africa) or via the World Wide Web at edify.com.
About TransPoint
TransPoint is a joint venture of Microsoft Corp. and First Data Corp., with Citibank as a minority equity investor. The company was formed in June 1997. In 1999, TransPoint will introduce the nation's first end-to-end system for Internet bill delivery and payment. TransPoint's service, which will use existing payment systems, will allow consumers to access and pay their bills through the branded home banking services of participating financial institutions and other consumer service providers. TransPoint is based in Englewood, Colo. For more information, visit transpoint.com.
About Dollar Bank
Dollar Bank, Federal Savings Bank is a $3.1 billion bank founded in 1855 and headquartered in Pittsburgh with over 50 branch offices and loan centers located in Western Pennsylvania and Northern Ohio. Dollar Bank is an innovative leader in electronic banking; in 1975 it became the second bank in the country to offer telephone banking and in March 1997, the sixteenth bank to have true Internet Banking. In December 1998, Dollar introduced an Internet Cash Management system to its corporate customers. For more information about Dollar Bank, visit dollarbank.com.
Forward Looking Statements
The matters set forth in this press release, such as statements relating to EBS and the Consumer and Business Banking Suites and other products and services are forward looking and are subject to a number of risk and uncertainties that could cause actual results to differ materially. Although on-line banking has been available in various forms for many years, there can be no assurance that consumers will accept on-line banking over the Internet or the company's products, including EBS, in sufficient numbers to make on-line banking or the company's products successful. Further information on the important factors that could affect the results or outcomes discussed in the forward-looking statements is included in the Edify's Annual Report on the Form 10-K and its other reports filed from time to time with the Securities and Exchange Commission.
NOTE: Microsoft is either a registered trademark or trademark of Microsoft Corp. in the United States and/or other countries. Other product and company names herein may be trademarks of their respective owners. Edify is a registered trademark of Edify Corporation.
SOURCE: Edify Cooperation
biz.yahoo.com |
