Previously, both banks utilized multiple InteliData software offerings via a hosted, Application Service Provider (ASP) environment. This in-house migration will allow the banks to realize significant cost benefits and control over their Internet Banking application while continuing to benefit from InteliDatas payment routing capabilities. First Hawaiian and Bank of the West collectively have in excess of 100,000 on-line banking customers of which 25% are currently bill payment clients. While this in-house migration will result in a reduction in certain ASP recurring revenue sources for InteliData going forward, the Company has previously received license fees and will continue to realize annual maintenance revenues for the software license, as well as continuing transaction fees associated with electronic payment matching and least-cost routing services from the banks.
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