The Main Street America Group Selects Bottomline Technologies' WebSeries.PORTSMOUTH, N.H. -- Electronic Payments, OFAC OFAC Office of Foreign Assets Control (US Treasury) OFAC Ontario Farm Animal Council (Canada) OFAC Olmsted Falls Airport Committee OFAC Organic Fertilizer Association of California Compliance, and Distributed LaserCheck Modules Help Insurer Enhance Compliance and Gain Efficiency by Leveraging Existing Systems 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 global technology provider of financial Business Process Management (fBPM) software and managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality , today announced that The Main Street America Group (The MSA (Metropolitan Service Area) An urban area with at least 50,000 people plus surrounding counties. There are 306 MSAs and 428 RSAs (rural service areas) in the U.S. MSAs and RSAs are used to allocate cellular licenses. Group) has chosen to implement its WebSeries(R) Payments Risk Management for OFAC Compliance, Electronic Payments, and distributed LaserCheck(R) printing modules. The MSA Group is a leading provider of property and casualty insurance products, programs and services, with more than $700 million in premiums. The MSA Group has completed implementation of Bottomline's WebSeries Payments Risk Management module, and plans to implement the Electronic Payments and Laser Check Printing modules later this year. Manager of Treasury Services Treasury services is a function of an investment bank which provides transaction, investment and information services for chief financial officers, treasurers. Treasury services concentrates and invests client money, and provides trade finance and logistics solutions as well as for The MSA Group, Tom Frazier, said, "It was important for The MSA Group to leverage its diverse existing mainframe, legacy, and SunGard systems, which extend across multiple locations. Bottomline's Web-enabled modules offered the greatest flexibility to work within our existing infrastructure and enhance our business management processes." Denise Mitchell, manager-application programming and analysis, The MSA Group, said, "Bottomline's Payments Risk Management module has facilitated OFAC compliance by automating and simplifying The MSA Group's review process for policies, transactions, and issued checks. With well over one million policies in place, checking the names associated with those policies against the Treasury Department's Specially Designated Nationals and Blocked Persons List was a cumbersome, labor-intensive process. Now Bottomline automates reports, e-mail alerts and long-term SQL SQL in full Structured Query Language. Computer programming language used for retrieving records or parts of records in databases and performing various calculations before displaying the results. data storage to document OFAC compliance without adding a lot of procedures to our existing workflow." Frazier continued, "Bottomline worked closely with The MSA Group to deploy the Payments Risk Management module and we now look forward to implementing LaserCheck printing and Electronic Payments. Adding electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. capability will enable payments as required for enhanced cash management. The MSA Group outputs 45,000 to 50,000 checks per month using an impact printer, which spoils spoil v. spoiled or spoilt , spoil·ing, spoils v.tr. 1. a. To impair the value or quality of. b. To damage irreparably; ruin. 2. many check runs and requires frequent maintenance. Laser check printing will automate manual checks, facilitate remote printing, and enable the use of digital signatures and online review and approval capabilities, providing further layers of control." Bottomline Technologies' Vice President and General Manager, Kurt Mueffelmann, said, "Bottomline is pleased that The MSA Group has selected WebSeries modules to enhance its compliance and efficiency goals. The WebSeries platform leverages existing systems to enhance financial Business Process Management capabilities, and is an especially valuable business tool for the insurance and 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. markets." Bottomline's WebSeries Payments Risk Management module enables organizations to comply with U.S. foreign policy and national security objectives by verifying all transactions in compliance with laws overseen by the U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. Department's Office of Foreign Asset Control (OFAC). Bottomline's Payments system generates both electronic payments and paper checks from one data stream, providing increased controls and more efficient processing in a secure and controlled environment. About Bottomline Technologies Bottomline Technologies (NASDAQ: EPAY) is a leading global technology provider of financial Business Process Management (fBPM) solutions. Bottomline's comprehensive set of fBPM offerings enables businesses and financial institutions to more effectively manage their critical financial transactions, cash decisions and trading partner relationships, leveraging the Web. Applications include Electronic Payments and Cash Management, Electronic Invoice Receipt and Management, Electronic Invoice Presentment and Payment (EIPP EIPP Electronic Invoice Payment and Presentment EIPP Electronic Invoice Presentment and Payment ), Electronic Banking, Information Reporting and Document Output Management. Founded in 1989, Bottomline maintains its corporate headquarters in Portsmouth, NH and international headquarters in Reading, England. For more information, visit Bottomline on the Web at www.bottomline.com, or dial (800) 243-2528 or (603) 436-0700. Bottomline Technologies, WebSeries and LaserCheck are registered trademarks of Bottomline Technologies, Inc. All other brand/product names re 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. that involve risks and uncertainties, including statements regarding expected benefits of use of the Company's products and future growth or results. Among the important factors which could cause actual results to differ materially from those in the 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, our quarterly and annual reports are on file with the SEC. |
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