Frost Bank Completes Conversion to InteliData Enterprise Payment Suite

Wednesday 2 February 2005 17:57 CET | News

InteliData Technologies Corp. today announced that Frost Bank, headquartered in San Antonio, Texas, completed the migration of its bill payment solution from an outsourced environment to an in-house environment utilizing InteliDatas next generation J2EE Enterprise Payment Suite.

The full production launch represents a key milestone in achieving Frost Banks strategy of delivering the highest quality and most cost-efficient bill payment services to our customers, commented Bobby Berman, Executive Vice President, E-Commerce at Frost Bank. Were excited about leveraging the flexibility and control of transaction processing afforded by the InteliData Enterprise Payment Suite to meet the growing demand for online payment services. Frosts decision to implement our payment infrastructure software reflects the operational direction that the financial services industry is moving toward as online bill payment becomes a strategic imperative, said Alfred S. Dominick, Jr., Chairman and CEO of InteliData. We anticipate that more and more banks will look to free themselves from their dependency on third-party bill payment providers as adoption continues to grow, and cost and control become critical. InteliDatas J2EE Enterprise Payment Suite provides financial institutions with a comprehensive suite of solutions to support in-house control and processing of online payment transactions. The solution allows banks to capture and warehouse all payment transactions, and route transactions to the banks processors of choice. The solution also supports Interbank Transfers, which allows customers to move money quickly and securely between banks. We are extremely satisfied with the technical and industry domain expertise that InteliData contributed to the implementation effort, commented Carl Bush, Frost EVP of Information Technology. We migrated all of our users to the new server-based environment on schedule and on budget. We were able to migrate 100% of our customers payment information and payment history transparently, with minimal customer impact. I believe that the process which Frost followed in converting its users to our platform will serve as an example to other organizations that have been hesitant to implement an in-house solution, said Mr. Dominick. We have the experience and knowledge to support banks in this strategic initiative.

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Categories: Payments & Commerce | Payments General
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