Source: Bottomline Technologies
Bottomline Technologies a leading global technology provider of financial Business Process Management (fBPM) software and managed services, today announced that it entered into an agreement with HSBC Bank to become the sole supplier of HSBC's branded BACS-IP desktop software.
In addition Bottomline will be the preferred supplier of BACSTEL-IP solutions to the Bank's corporate clients.
HSBC Bank is a principal member of the HSBC Group, which is one of the world's largest banking and financial organisations with an extensive global capability and a major player in the corporate and institutional banking market. Bottomline has supplied HSBC's direct debit and credit branded software to its corporate customers for the past five years. As part of this new agreement, Bottomline will migrate these existing customers to HSBC's new BACS-IP software. Bottomline will also work very closely with HSBC to migrate all its BACS direct submitter customers smoothly to BACSTEL-IP in advance of the industry deadline on 31st December 2005.
"Bottomline aims to further support the strategic objectives of the Global Payments Cash Management division in HSBC, by delivering appropriate payment and collection solutions to all HSBC customers. Both Bottomline and HSBC believe that clients will reap considerable benefits from this partnership to provide HSBC customers with a solid strategy for migrating to BACTEL-IP, " said Peter Fortune, President of Bottomline Technologies Europe. "This new agreement underlines Bottomline's continued commitment to developing strong relationships with industry leaders like HSBC."