Siam Commercial Bank selects Checkfree for e-invoicing service

Siam Commercial Bank selects Checkfree for e-invoicing service

Thailand's Siam Commercial Bank (SCB) has licensed CheckFree's i-Series software which it will use to deliver hosted business-to-business electronic invoicing and payment services to its corporate customers.

The new B2B service will replace the bank's in-house system and is expected to go live this month.

Natruedi Punyaratabandhu, project manager, business cash management group, SCB, says: "Our in-house platform was not an efficient use of our resources. With each new invoicer added to the system, we would need to build a custom, costly application from the ground up.

"The flexibility of the CheckFree i-Series platform enables SCB to rapidly add new corporates to the service."

The bank's EBPP service includes Internet banking sign-on, multiple file format downloads, invoice queries and dispute handling, data analysis, customised reporting, account hierarchies, split billing and payment functionality to support both cash management and account management processes. The CheckFree system also features a data repository that provides the bank or invoicers with a consolidated record of customer payments.

The bank says it will initially roll out the service to its corporate online banking customers, before offering the system to other corporate clients. SCB also plans to extend the service to the B2C segment in the future.

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