rehash of orcl/ckfr alliance....
ORACLE/ Oracle and CheckFree partner for electronic bill presentation and payment
December 7, 1998
M2 PRESSWIRE via NewsEdge Corporation : Agreement joins industry's top Internet bill presentation and payment service with scalable, open Oracle internet bill & pay solution
Oracle Corp. today announced that it has signed an agreement with leading electronic commerce company CheckFree Corporation, based in Atlanta, GA. Oracle's Internet Bill & Pay solution will be fully integrated with CheckFree's electronic bill presentation and payment service, CheckFree E-Bill. Oracle Internet Bill & Pay is Oracle's electronic bill presentation and payment solution that was also announced at the Bank Administration Institute's (BAI) Retail Delivery Show this week. The CheckFree alliance furthers Oracle's strategy of enabling billers to more effectively use product and service delivery channels, including the Internet.
Implementation will be led by Oracle's Financial Services division, but will encompass other industries, including telecommunications and utility companies. To speed widespread industry adoption of electronic bill presentation and payment, Oracle and CheckFree intend to promote the Open Financial Exchange (OFX) standard and develop electronic commerce solutions based on OFX. Oracle Consulting Services will serve as the preferred systems integrator for deploying the Oracle Internet Bill & Pay solution.
"Internet bill presentation and payment applications frequently run into the terabytes of data. Billers will be embracing Oracle's industrial-strength solution to enable Internet bill presentation and payment due to its proven scalability and the fact that it is an open software platform designed to work across a variety of processing environments," said Matt Lewis, CheckFree's senior vice president, Electronic Commerce Product Management and Marketing. "Our partnership will allow billers access to an integrated solution; Oracle's robust internet bill publishing solutions and CheckFree's comprehensive bill distribution and payment services."
Electronic bill presentation and payment enables financial services firms and billers to enhance their cash flow, serve customers better and save substantially in printing and mailing costs. Oracle Internet Bill & Pay will draw billing or other financial data from a firm's legacy systems and present it to customers through the Internet. Customers will be able to view their bills at a protected Internet site and have a variety of options before making electronic payments. Those options will include sorting and analyzing bill information, e- mailing questions and complaints directly to a customer service representative, setting up automatic payment options and researching past statements.
As the industry leader in Internet-based bill presentation and payment, CheckFree is already providing services to more than 350 financial institutions. Integration of Oracle's Internet Bill & Pay with CheckFree's bill distribution and payment capabilities will allow billers to reach more consumers wherever the consumers elect to receive their bills, without giving up one-to-one marketing capabilities.
Steven R. Perkins, senior vice president, Oracle Financial Services, described the agreement with CheckFree as paving the way for broader industry acceptance of electronic bill presentation and payment. "We're spurring the growth of Internet-based bill presentation and payment by giving financial services firms and billers the best of all worlds," said Mr. Perkins.
"We will provide a highly scalable, robust solution based on the OFX standard and interfacing with the industry's most widely used electronic bill presentation and payment service, CheckFree E-Bill," added Andy Felong, Oracle vice president, Internet Applications Division.
About CheckFree
Founded in 1981, CheckFree Corporation
(www.checkfree.com), is the leading provider of electronic commerce services, software and related products for more than 2.4 million consumers, 1,000 businesses and 850 financial institutions. CheckFree designs, develops and markets services that enable its customers to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure transactions on the Internet.
About Oracle Financial Services
Oracle's Financial Services division, which is responsible for driving development, sales, marketing, consulting and related services to banks, capital markets and insurance firms, supports Oracle's overall vertical industry strategy of combining Oracle's core competencies with specific industry applications. Oracle Financial Services Applications suite enables financial institutions to calculate profitability and performance, assess asset/liability and interest rate risk, conduct database marketing and campaign management, create budgets and forecasts, and calculate funds transfer pricing. The suite complements Oracle Financials(, comprised of applications such as Oracle General Ledger, Purchasing, Payables, Receivables, Cash Management, and Assets. About Oracle
Oracle Corporation is the world's leading supplier of software for information management, and the world's second largest software company. With annual revenues of more than $7.5 billion, the company offers its database, application server, tools, and application products, along with related consulting, education, and support services, in more than 140 countries around the world. For more information about Oracle, please call 650/506-7000. Oracle's World Wide Web address is (URL) oracle.com.
Trademarks
Oracle and Oracle Financials are registered trademarks of Oracle Corp. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners.
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