Source: Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY), a leading provider of payments and invoice automation software and services, today at Sibos 2005 in Copenhagen announced the expansion of its Electronic Banking Platform with the release of WebSeries Remote Hub.
Designed specifically for banks, WebSeries Remote Hub facilitates the exchange of secure payment-related information with corporate clients without manual intervention and enhances straight through processing (STP) capabilities. Enable corporate clients to transmit payment information and receive reporting details electronically without any manual activity Establish a reliable and secure transactional communication service Enhance straight through processing (STP) capabilities Enhance straight through processing (STP) capabilities
While browser-based products for transmitting transaction data offer more advanced capabilities than traditional host-to-host workstations, manual intervention continues to be required for initiating file downloads, file uploads and report printing. The assumed risk, high cost of software licensing fees and manual processes associated with these products often make it difficult for banks to service and retain corporate customers.
With WebSeries Remote Hub, bank executives responsible for client access channels are able to offer automated, unattended transmission of payments, check issuance files, securities confirmations and information reporting files to a broader set of clients more profitably and with a lower total cost of ownership. Banking users can use WebSeries Remote Hub, for example, to allow corporate clients to automatically receive and print reports each morning or transfer transactional data for reconciliation daily.
"Competition and economic pressures compel banks to be more innovative and pragmatic about corporate banking services such as payments to create differentiation, adjust cost-models and generate new revenues," said Maggie Scarborough, Research Manager, Financial Insights. "Banks are replacing inefficient bank processes with those that better integrate with customer processes. This approach delivers business value directly to the customer and provides efficiency and customer retention for the bank."
Based on patented technology, Bottomline's Electronic Banking Platform allows banks and financial institutions to rapidly transform the efficiency and breadth of enterprise cash management services through a modular software architecture. By deploying WebSeries Remote Hub, Bottomline's banking customers can:
"With increased market pressure at global, national and regional levels, striking the right balance between servicing customers and controlling costs is critical, particularly for small and mid-sized banks," said Eric Campbell, Chief Technology Officer, Bottomline Technologies. "WebSeries Remote Hub allows banks to bypass the limitations of browser-based products and offer faster, more efficient transaction communications without having to absorb unnecessary risk and infrastructure costs."