This initiative will provide a comprehensive online service to customers and drastically reduce the amount of paper-based mail.
This service will consolidate bills or statements from major billers or utilities and present them to the customers through their preferred banking websites. An e-mail will inform customers when there is a bill to view.
Then, through the bank’s website, customers can review the information, request more details, and initiate payments.
when to pay bills, thus eliminating the need to write and post cheques.
Electronic bill presentment and payment is already an area of huge growth. Industry analyst Gartner Group predicts that the e-BPP market will rocket from $4 billion in 2000 to $19 billion in 2005.
Morever, Datamonitor reports that CEOs from Europe’s major 200 banks are making e-BPP a top priority. The market for value-added financial services over the Internet is growing, and with e-BPP, banks have the opportunity of generating new revenue via the Internet.
According to Hoss Atri, programme director for e-Payments, Unisys, the new bank centric e-BPP solution will consolidate Unisys position as a global stakeholder in the payments industry.
"With over 50 percent of the world’s cheques already processed by Unisys systems, this is a positive progression and we can use our expertise in this field to lead the market," comments atri.
"This e-BPP service will also result in more customer visits to the banks’ Internet sites, offering more opportunities for marketing, servicing and strengthening customer relations. E-BPP is an invaluable tool to banks in customer relationship management and will mean customers will benefit from a value added service when banking online. It will also provide bilelrs with access to a ready made large client base through the banks existing Web sites and bill payers with a convenient way of paying their bills via the banks secure Web site," adds Atri. For more information about Unisys financial solutions, visit www.unisysfinancial.com.