InteliData First Solution Provider to Certify With Spectrum for Consumer EBPP
RESTON, Va., Sept. 20 /PRNewswire/ -- InteliData Technologies Corporation (Nasdaq: INTD) announced today its consumer service provider (CSP) product is the first fully functional, commercially available CSP processor solution to be certified by Spectrum EBP, L.L.C. InteliData leads the industry in providing solutions for financial institutions to eliminate the technological hurdles of aggregating and presenting bills, routing payments and integrating with payment networks like Spectrum.
(Photo: NewsCom: newscom.com )
InteliWorks CSP is a fully customizable solution designed to support various integration and implementation options. This CSP product works seamlessly with the banks' existing web offering. InteliData CSP Services product line is offered in an ASP environment or as an in-house solution.
Spectrum is a bank-owned payment systems company that routes electronic bills and payments between billers and consumers. Utilizing a secure, open and interoperable system, Spectrum is committed to building a robust network of both billers and consumers through strategic alliances without disintermediating financial institutions. Including the three founders, 22 financial institutions currently belong to the Spectrum network or have signed letters of intent to participate in the network.
The alliance is strategic for banks who wish to offer EBPP services to their customers but who do not wish to invest the time and capital in the development of a proprietary solution.
"The InteliWorks CSP solution makes it easy for banks to take advantage of the Spectrum network and all that it offers," said Al Dominick, President and CEO of InteliData. "Spectrum has many relationships that bring a substantial number of billers to the system, which is what consumers want. This is a simple solution that allows the customer an easy way to manage all their bills in one place. At the same time, Spectrum is able to offer this superior customer experience at a cost that is significantly lower than other EBPP networks."
"InteliData brought added value to Spectrum during the development of our technology platform," said Ron Braco, President and COO of Spectrum. "We are pleased InteliData has successfully certified to the Spectrum network and are excited to offer our participant financial institutions a CSP solution to connect to Spectrum."
Designed from the ground up, InteliData InteliWorks CSP meets new, emerging, and unique transaction processing and switching needs for consumer side bill presentment. This bank-centric product:
* Provides Full Payment and Presentment Functions
* Handles Multiple EBPP Service Providers (Spectrum, on-us and others)
* Allows Biller-Directory Synchronization Across Multiple EBPP Service
Providers and Networks
* Contains Flexible Front -End Integration Models
* Insures Payment Routing through Multiple Networks
* Supports Summary and Detail Level Bill Presentment
* Implements in an ASP or In-House Setting
About InteliData
InteliData (Nasdaq: INTD) provides Internet banking and Electronic Bill Payment and Presentment (EBPP) technology and services to banks, credit unions, and financial institution processors. InteliData's EBPP products offer banks, card issuers and other financial institutions an end-to-end solution for distributing e-bills and e-payments through multiple delivery channels, delivering e-bills to consumers, and enabling payment of bills through multiple payment processors.
InteliData's Internet banking and card products provide large financial institutions throughout the U.S. with unsurpassed scalability, flexibility and security in supplying real-time, Internet based banking and card services to their customers. For more information about InteliData, visit the company's Web site at intelidata.com .
About Spectrum
Spectrum EBP, L.L.C., headquartered in Atlanta, Ga., is an independent company fully owned by J.P. Morgan Chase & Co. (JPM), Wachovia Corporation (WB) and Wells Fargo & Company (WFC). Formed to facilitate the exchange of electronic bills and payments, Spectrum's mission is to provide a secure, open and interoperable infrastructure to electronically link consumer and biller service providers. Additionally, Spectrum seeks to provide value to its participants by providing superior service and reducing overall bill presentment and payment costs. Spectrum does not host any bills directly, nor does it retain any bill details. Including the three founders, 22 financial institutions currently belong to the Spectrum network or have signed letters of intent to participate in the network. More information on Spectrum can be found at spectrumebp.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 risks associated with the Company's recent acquisition of Home Account, 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 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 availability of cash for long-term growth, product obsolescence, 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 2001 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 Corporation
CO: InteliData Technologies Corporation; Spectrum EBP, L.L.C.
ST: Virginia, Georgia
IN: TLS NET FIN
SU: PDT
09/20/2001 15:49 EDT prnewswire.com |
