The Chase Manhattan Bank is to use Consolidator from Digital Insight as the basis for its retail electronic bill presentment and payment (EBPP) platform.
The solution aggregates bill summary information and routes payments to and from any open financial exchange (OFX)-enabled bill publisher. It currently supports OFX-Presentment versions 1.02 and 1.5.1 and OFX-Payment version 1.5.1, says the company.
Consolidator was the first consumer service provider (CSP) technology certified by Spectrum, a consortium of US banks formed to deliver an open, interoperable switch for exchanging electronic bills and payments. Chase, a founding member of Spectrum, joins Wells Fargo Bank in utilising the solution.