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Technology Stocks : CheckFree (CKFR) -- Ignore unavailable to you. Want to Upgrade?

To: p friend who wrote (1088)	12/31/1997 2:52:00 PM
From: Brian K Crawford	Read Replies (1) \| Respond to of 8545

Digital Insight offers website development, hosting and home banking with the billpay backend service being provided by Travelers. They don't tell how many of their clients offer billpay, but my guess is its less than half of the 68 that are "home banking" clients (as opposed to non-transaction enabled website clients). Travelers got into the billpay business around a year and a half ago when they purchased the service known as "Paymate". They have been in the check processing business for financial institutions for many years. In billpay only, it is my understanding that Travelers is a very distant #2 to CKFR's #1 market position, with CKFR having 80+% share to Travelers 10% or so. Paymate had quality problems, and Travelers bought the book of clients and got rid of the name. Travelers reputation carries better recognition and a record of decent quality. They are undercutting CKFR on price, and will probably continue to do so. (as a good #2 should?). They have staying power and credibility with financial institutions and will be a good competitor for CKFR billpay. I haven't seen any announcements regarding a Traveler's E-Bill initiative. So that remains a question. You can bet Travelers is trying to figure out how to get the E-Bill piece into their offering. MSFDC and Travelers? Kurt, you out there? Any speculation? Brian