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To: grasshopper who wrote (3784)	5/1/1998 8:15:00 AM
From: Benny Baga	Read Replies (1) \| Respond to of 8545

Electronic Funds & Data Corp. Outlines Electronic Banking Issues for State and Federal Regulators May 1, 1998 NASHVILLE--(BUSINESS WIRE) via NewsEdge Corporation -- Jim Wells, director of strategic alliances, of Electronic Funds & Data Corp. (EF&D), will demystify electronic bill presentment and payment (EBPP) and the issues it presents for regulators at the annual meeting of the Conference of State Bank Supervisors in Nashville, Tenn., May 1-3. As a member of the May 1 panel "Delivering Online," Wells will address the question "What is electronic bill presentment and payment and why should billers, consumers, bankers and their regulators be interested? " "Every year more than 15 billion bills are sent to American households, " said Wells, formerly an analyst with the consulting firm of Furash & Co. "To maintain their preeminent position in the payment system, banks must function as the link between billers and bill payers - before someone else does. Bank regulators need to understand how critical these non-traditional activities are to the long-term viability of banks and their role in helping banks under their supervision make this a reality. This could include working with banks to convince the local public service commissions to allow on-line electric bills to replace paper ones." Some of Wells' key points will include the specific challenges for regulators regarding interstate billing and on-line consumer protection; privacy and confidentiality of on-line data; network security; and the industry's need for standards to ensure that bills efficiently get to and from consumers nationally and internationally. The Conference of State Bank Supervisors is considered the largest annual gathering of the nation's top state and federal regulators and bankers. Each year, the prestigious group meets to discuss the most important issues facing the banking industry. This year, one of the hottest issues facing these regulators is electronic banking. "EF&D wants to help regulators come to grips with the difficult choices facing banks on all levels as a result of the technological revolution and the encroachment of non-banks," Wells said. "Electronic delivery is the future of banking. We look forward to contributing to the exchange of ideas among conference participants." Other panel participants include Linda Garvalink of Grant Thornton who will serve as moderator and Steve Simpson of Texas Industrial Bank. EF&D, founded in 1993 and located in Southampton, N.Y., develops and markets comprehensive, bank-centric billing solutions for both the current paper environment and electronic media. The company sees EBPP as the critical front-end to PC banking programs and to the growing world of electronic commerce. CONTACT: EF&D \| Diana Conconi, 202/331-8133 \| or \| Griendling Communications \| Robert Griendling, 703/978-4686 \| griendling-comm@worldnet.att.net [Copyright 1998, Business Wire]