Citibank Invests in TransPoint and Gains a Strategic Advantage.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Sept. 24, 1998--Citibank's recent investment in TransPoint, formerly MSFDC MSFDC Microsoft, First Data Corporation MSFDC Microsoft and First Data Corporation , strengthens the bank's position in providing a service for what is expected to be the first financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Internet "killer application Killer Application Killer application or "killer app" is a buzzword that describes a software application that surpasses all of its competitors. Notes: The term is sometimes used to describe a type of software. ." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a new study by Killen & Associates, that application is the electronic (Internet) presentment of bills and the payment of those bills (EBPP (Electronic Bill Presentment and Payment) Sending invoices to customers over the Internet. When payment is due, an e-mail is sent with a link to a Web page that contains the billing information and the payment services that are supported. ). "The banks have been looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. an application that would motivate customers -- businesses and consumers -- to use the Internet for banking," stated Michael Killen, president of the market research firm. "The odds are good they will find it in EBPP. The odds are also good that the banks will be the first to offer a comprehensive EBPP service. In doing so, they have the best chance to sign up waves of new businesses and consumers as customers." "Citibank, the leader in global banking, already has much of the technology needed to pay electronic bills-the back end of EBPP. Its investment in TransPoint indicates that the bank is moving forward to secure the technology needed to electronically distribute bills." Killen & Associates' study, EBPP: Markets, Framework, and Suppliers, provides insights into how banks and other companies are pursuing the EBPP killer application. The study details the payment and presentment marketplace, provides a set of 10 long-term success criteria, and offers a template and analysis of the relative strengths and weaknesses of 25+ banks, billers, Internet portal companies, and other financial service providers. For additional information, visit Killen & Associates' Web site, http://killen.com . Press contact: Bob Goodwin, bgood@killen.com, tel 650/617-6137, fax 650/617-6140. Client contact: Jules Street, jules@killen.com , or Karl Duffy, karl@killen.com , tel 650/617-6130, fax 650/617-6140 Killen & Associates is a leading market research and consulting firm whose studies, seminars, and television programming enable clients in the banking/financial services, telecommunications, and information technology industries to identify business opportunities created by technology advances, public policy changes, and market forces. |
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