RESTON, Va. - Intelidata Technologies Corp. said Monday that it has established an alliance with Edocs Inc. to help financial institutions offer electronic bill payment and presentment.
By integrating their services, the companies will be able to get banks up and running on interbank payment exchanges, such as Spectrum LLC, a bank-owned venture that seeks to put banks at the center of the electronic bill payment and presentment business. Spectrum announced in March that it had chosen Intelidata to provide online bill payment. "Banks have historically been behind in the online bill payment and presentment world," said Jim Moran, executive vice president of sales and marketing of Edocs. "Now banks have a great opportunity to leverage our technologies and get in the game very fast and as such, make up for any perceived lost ground."
The combined product will not only allow banks to serve their own consumers with online bill payment and presentment, but it will also enable them let corporate customers do so. The companies expect to introduce the joint product in the third quarter.