Intelidata fourth quarter boosted by new contracts

Intelidata fourth quarter boosted by new contracts

Intelidata Technologies, a US-based provider of Internet banking and electronic bill presentment and payment technologies, says it expects to report a positive fourth quarter before deductions, following the execution of several new contracts.

Compass Bank has contracted with Intelidata to upgrade its middleware platform which consists of the vendor's Interpose Transaction Engine and OFX Gateway. The bank has also licensed Intelidata's Interpose XML software. The agreement includes multi-year maintenance for the products.

Intelidata has also announced that the Members Group, an Iowa-based organisation serving credit unions, is to deploy its e-Statement module, part of its Card Solutions product that provides electronic credit card statements.

In addition, the vendor has won a three year contract with BancorpSouth for its CardPay Express service, consisting of a basic account access, statement history and 'pay your credit card' modules.

All modules operate on InteliData's Internet account management platform.

The company notes that it now expects to achieve positive EBITDA (earnings before interest, taxes, depreciation and amortization, excluding non-cash compensation) for the fourth quarter ended 31 December, 2002. Complete fourth quarter and full year 2002 financial results will be announced during the later half of February.

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