Fifth Third Bancorp Increases Investment in Bottomline Technologies' Enterprise Payments Platform; Distributed Document Printing Module Automates Secure Check Request and Printing at 1,100 Branches.PORTSMOUTH, N.H. -- Bottomline Technologies (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : EPAY), a leading provider of payments and invoice automation software and services, today announced that Fifth Third Bancorp has expanded its investment in the company's WebSeries(R) Enterprise Payments Platform with the addition of new capabilities for streamlining retail branch payments. Bottomline's enhanced WebSeries Enterprise Payments Platform enables banks to consolidate payments and payments-related reporting onto a single technology platform. With the platform's specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. solution set for retail branch payments, banks and financial institutions can accelerate the delivery of retail branch payments and services across a branch network at point of need, while maintaining centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. security and control. Incorporating the WebSeries Distributed Document Printing software module onto its payments platform, Fifth Third will be able to improve the efficiency of check creation at more than 1,100 banking centers and improve customer service, providing on-demand print capabilities for money orders and cashier CASHIER. An officer of a moneyed institution, who is entitled by virtue of his office to take care of the cash or money of such institution. 2. The cashier of a bank is usually entrusted with all the funds of the bank, its notes, bills, and other choses in checks. In addition to reducing its dependency on manual processes, the new module will allow Fifth Third to tightly integrate its branch sales process A sales process is a systematic approach for performing product or service sales. The reasons for having a sales process include seller and buyer risk management, achieving standardized customer interaction in sales and scalable revenue generation. with an electronic audit trail and other fraud detection systems. "The overall efficiency of our banking centers, particularly regarding on-demand services, is a contributing factor in our ability to retain customers and compete effectively in the marketplace," said Bill Curry William "Bill" Curry (born October 21, 1942) is a former NFL football player and NCAA football coach. He currently works as a football analyst for ESPN and the director of the Leadership Baylor program at Baylor School in Chattanooga, Tennessee. , Vice President Retail Administration, Fifth Third Bancorp. "Bottomline Technologies is a strategic partner that, through its Enterprise Payments Platform, has provided our organization with a roadmap from which we can deploy innovative banking center products on an ongoing basis and improve overall service at point of need." A Bottomline customer since 2005, Fifth Third has deployed WebSeries' wires functionality to more than 10,000 users across its banking center network to automate wire initiation, foreign draft creation and check distribution management processes at the branch level. By fully automating this core branch process, Fifth Third has been able to significantly reduce its exposure to risk by eliminating verbal communication of account information and improve Straight-Through Processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. . "Fifth Third Bancorp's decision to increase its investment in Bottomline underscores the importance of leveraging technology to create customer value at the branch level and drive market differentiation," said Joe Mullen Joseph Mullen (born February 26, 1957 in New York, NY) is a retired American professional ice hockey player who played 17 seasons in the National Hockey League with the St. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bottomline Technologies. "With the modular approach offered by our Enterprise Payments Platform, our banking customers avoid costly customization cycles and are able to bring new, secure products and services to market quickly with a lower total cost of ownership." About Bottomline Technologies Bottomline Technologies (NASDAQ: EPAY) provides payments and invoice automation software and services to organizations seeking more secure and efficient financial processes. The company remains at the forefront of delivering innovative solutions that complement and extend the value of existing financial processes, business relationships and back-office systems. These solutions have enabled industry-leading corporations, banks and financial institutions to automate, manage and control processes involving payments and collections, invoice approval, cash flow, risk mitigation, reporting and document archive. For more information, please visit www.bottomline.com. Bottomline Technologies, WebSeries and the BT logo are registered trademarks of Bottomline Technologies, Inc. which may be registered in certain jurisdictions. All other brand/product names are trademarks of their respective holders. Cautionary Language This press release may contain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' financial results, refer to the Company's Form 10K filed September 2005, Form 10Q filed May 2006 and any recently filed Form 8K's. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements. |
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