Fintech Friday: Bottomline – Reshaping the World of Business Payments
Rob Eberle, CEO, spoke with Efma’s Boris Plantier about the evolving business payments landscape and the integral role he expects Bottomline to play in its future.
1 - What led to the creation of Bottomline?
Bottomline began life as a financial technology company before people even knew what fintech was. Originally the business’s primary focus was on the then-de facto payment method of cheques, offering hardware, automation software, and outsourced printing and materials to support. It stood to reason that our company name, Bottomline, was derived from digitising the data-rich line below the signature on a cheque, ergo the “Bottomline”. Since then, payments have morphed into something far more significant, more global, and certainly more automated and digitalised. As payments processing methods, technology, industry regulation and customer needs have evolved, so has Bottomline, adapting, transforming and defining new standards in the automation and digitisation of business payments and process. With offices in 25 countries around the world, Bottomline employs almost 2,000 people to serve and delight hundreds of thousands of corporates and financial institution customers.
2 - Could you present Bottomline’s offer?
Today, Bottomline (NASDAQ: EPAY) makes complex business payments simple, smart and secure. Corporates and banks of all sizes across the globe rely on us for domestic and international payments, cash lifecycle management, automated workflows for payment and document processing, state-of-the-art fraud detection and behavioural analytics, and regulatory compliance.
3 - What’s coming next for Bottomline?
It’s an exciting time for Bottomline and the payments industry at large.
Firstly, we’re expanding deeper into the corporate treasury market, which aligns with our core payments offering. This expansion means our customers will benefit from a unified platform strategy that brings together payables, receivables, and treasury management, making it easier for them to manage better and optimise their cash, liquidity and working capital.
Beyond this, we’re operating in a world of accelerated digitalisation - a great acceleration which will only continue to gather speed. New industry standards, regulations and payment rails are continuously reshaping the world of business payments and process. Alongside this, standardised message formats will make it easier to move payment messages from bank to bank, country to country. Following the general digital trends of instantaneous or near-instantaneous response times, real-time payment is fast becoming a reality for business, and payment processing is shifting beyond the banks to a more open environment. Payment fraud is a significant, ever-present threat, so the importance of fraud detection and prevention measures is crucial. Suffice to say that the payments industry is a rapidly evolving landscape and one that Bottomline is excited to be involved in and advise customers on. Customer delight is the foundation of our business. That means helping to define and deliver the future before it’s anticipated.