Bottomline Technologies (NASDAQ: EPAY), a leading global provider of Financial Resource Management (FRM) solutions, today announced that it has added TFP?s International Bank Account Number (IBAN) and Global Payment Files to their banking solution. This addition provides the ability to automate the processing of cross-border euro-denominated payments. Now Bottomline customers will be able to make European financial payments quickly and accurately through WebSeries SWIFT messaging, with maximum straight through processing (STP).
?To comply with new payment initiatives for more efficient and lower cost cross-border European settlement, banks now require payment instructions to contain additional and more structured financial information,? said Marcus Hughes, head of banking for Bottomline Europe. ?Combining the comprehensive payment preparation and validation capability from the Bottomline solution with the extensive reference data provided by TFP, corporations and financial institutions can now clear payments on an STP basis across 25 European countries,? Hughes continued.
An International Bank Account Number (IBAN) is an account number formatted according to international standards to uniquely identify a bank account in European financial transactions. TFP compiles and regularly updates IBAN reference data which helps improve payment efficiency and straight through processing. Financial institutions and treasury professionals use the TFP service to match IBANs with the appropriate bank and branch as well as the associated SWIFT BIC codes for payment transactions and for resolving payment-processing problems. TFP?s IBAN File is now incorporated into an optional module for Bottomline?s WebSeries Payments product line. With the new service, Bottomline customers can now generate the new SWIFT MT103+ format, streamlining the straight through processing of financial payments and qualifying transfers for less expensive bank charges.
?Before IBANs, there was no internationally recognized standard for identifying a bank branch and account in a foreign payments transfer,? said Bob McKay, TFP?s senior product manager - payments. ?Our IBAN File contains the necessary reference data to conduct more accurate financial transactions, more quickly. TFP?s IBAN File provides customers up-to-date IBAN payment transfer information, from all of the 25 participating European countries.?
About TFP
TFP (http://www.TFP.com) is a leading provider of data and software solutions for financial and corporate institutions worldwide. TFP?s product lines include Payment Efficiency, Risk Reduction, Marketing Services and Reference Tools for Banking?. TFP?s solutions assist in accurately originating payments to realize higher payment STP rates; facilitating the repair of rejected transactions; ensuring compliance with global anti-money laundering and anti-terrorism requirements and guidelines, including the USA PATRIOT Act, Bank Secrecy Act, Wolfsberg Principles and regulatory agencies such as the Financial Action Task Force and U.S. Treasury?s OFAC. TFP maintains the most authoritative and comprehensive databases of financial institutions globally and has been the official routing number registrar for the American Bankers Association since 1911. For more information, visit TFP on the Internet at http://www.TFP.com or call (847) 676-9600. TFP is a division of Thomson Media, (http://www.thomsonmedia.com), a unit of The Thomson Corporation, and a leading provider of information, data, and software tools for professionals in the financial services and related technologies markets.
About The Thomson Corporation
The Thomson Corporation (http://www.thomson.com), with 2002 revenues of $ 7.8 billion, is a global leader in providing integrated information solutions to business and professional customers. Thomson provides value-added information, software applications and tools to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. The Corporation's common shares are listed on the New York and Toronto stock exchanges (TSX: TOC; NYSE: TOC).
About Bottomline Technologies
Bottomline Technologies (Nasdaq: EPAY) is a leading global technology provider of Financial Resource Management (FRM) solutions. Bottomline's comprehensive set of FRM offerings enables businesses and financial institutions to more effectively manage their critical financial transactions, cash decisions and trading partner relationships, leveraging the Web. FRM applications include Electronic Payments and Cash Management, Electronic Invoice Receipt and Management, Electronic Invoice Presentment and Payment (EIPP), Electronic Banking and Information Reporting. 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 http://www.bottomline.com, or dial (800) 243-2528 or (603) 436-0700.
Cautionary Language
This press release may contain forward-looking statements 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 and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' financial results, refer to the Company's Form 10K filed September 2003, Form 10Q filed May 2003 and any recently filed Form 8K's.
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