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Wednesday July 14, 8:01 am Eastern Time
Company Press Release
SOURCE: InteliData Technologies Corporation
BB&T Corp. and InteliData Launch Internet Banking and Bill Payment System Using InteliData's Interpose(TM) System
RESTON, Va., July 14 /PRNewswire/ -- InteliData Technologies Corp. (Nasdaq: INTD - news), a leader in Internet banking and bill payment technology, and BB&T Corp. (NYSE: BBT - news) today announced the customer launch of BB&T's new Internet banking and bill payment system using InteliData's Interpose(TM) software suite.
By 2005, Internet banking and bill payment will be used by an estimated 33.5 million U.S. households, or more than 30 percent of the country's population, according to analysts at Forrester Research Inc., a nationally recognized research firm.
InteliData is using its Interpose software suite to provide BB&T customers with secure access to accurate, real-time account information and to pay bills anywhere, anytime using standard HTML browsers via BB&T's Web site, www.BBandT.com. The Interpose software automatically synchronizes customer account information to popular PC banking software such as Microsoft Money®, Intuit's Quicken® and Home Financial Network's Home ATM(TM), allowing customers choice in their financial management.
''With the Interpose system, BB&T's customers can have total control over their personal finances,'' said Tom McFarland, executive vice president and manager of BB&T's Alternative Delivery Systems division. ''From home or their office and with complete security and reliability, customers can get real-time account balances, retrieve statements, transfer funds and pay bills.''
BB&T's in-house, end-to-end system, Home Financial Network's Total Web Banking consumer interface software, is integrated with BB&T's host system using InteliData's Interpose(TM) OFX Gateway and the Interpose(TM) Transaction Engine mainframe application. Bill payment is handled through the Interpose(TM) Bill Payment Warehouse, which allows BB&T to process customer debits and payments to commercial accounts internally and to outsource external payments to third-party processors.
''InteliData's products help BB&T strengthen customer relationships by providing unprecedented remote banking options,'' said Paal Kaperdal, vice president and manager of BB&T's Online Banking Services department. ''Our customers can take advantage of 24-hour real-time account access and bill payment from their PCs.''
InteliData President & CEO Al Dominick added, ''We are excited to provide BB&T with an end-to-end system that has the capacity to grow with them as Internet banking volumes grow. We are especially proud of the innovative bill payment solution we are providing to BB&T, which allows them to least-cost process ''on-us'' payments in-house, and reroute other payments to third-party providers.''
Quicken is a registered trademark of Intuit, Inc. Microsoft is a registered trademark of Microsoft in the United States.
About BB&T (www.BBandT.com)
Winston-Salem, N.C.-based BB&T Corporation, a multi-bank holding company with $37.8 billion in assets, operates 581 banking offices in the Carolinas, Virginia, Maryland and Washington, D.C.
About InteliData (www.intelidata.com)
InteliData, with headquarters in Reston, Va., is a leading supplier of Internet banking and bill payment technology to over 20 of the top 100 U.S. financial institutions and financial service providers. The Company's products provide financial institutions with highly scalable and reliable Internet transaction and payment processing solutions that give them total control of customer information and payment processing. These services allow consumers to securely and reliably check account balances in ''real-time'', view account transaction history, transfer funds between accounts, and do online bill payment to any of the consumers' billers. The Company's products include the Interpose(TM) Transaction Engine, Interpose(TM) OFX Gateway, and the Interpose(TM) Payment Warehouse.
''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, the impact of competitive products, pricing pressure, product demand and market acceptance risks, bank year 2000 compliance issues, reliance on resellers, pace of consumer acceptance of home banking, bank 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 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 growth, product obsolescence, ability to reduce product costs, fluctuations in operating results, ability to continue funding operating losses, 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 1999 and beyond to differ materially from those expressed in any forward- looking statements made by, or on behalf of, InteliData.
SOURCE: InteliData Technologies Corporation
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