Bottomline's Real-Time Payments Drives Digital Engagement for Banks and Businesses
New capability combines speed of execution with enhanced information and communication
BOSTON, MA (October 21, 2019) – Bottomline Technologies (NASDAQ:EPAY), a leading provider of financial technology that helps make business payments simple, smart and secure, today announced the expansion of its Digital Banking IQ™ suite with the launch of its Real-Time Payments module, utilizing the RTP® network from The Clearing House. Designed to speed up, streamline, simplify and enrich the business-to-business payments process, the new product capability enables a bank's corporate customers to send and receive real-time payments, to request a payment, and to leverage complete and integrated information.
“Customer engagement is central to creating real, sustainable value in financial services. Real-Time Payments represents an important new means to that end. Smart banks are focusing more on the value of the end-to-end processes and experiences around payments, which we enable by delivering Real-Time Payments through Digital Banking IQ,” said Norm DeLuca, Managing Director, Banking Solutions, Bottomline Technologies. “This new product – with a focus on ‘conversational messaging’ – empowers banks to deepen customer engagement by offering the speed and certainty of faster payments, combined with richer transaction information and more frictionless business-to-business interactions, through their digital banking application.”
Bottomline’s Real-Time Payments module focuses on the ability to send and receive real-time credit transfers on the RTP network, dramatically accelerating the completion of a payment and access to funds while reducing numerous manual or paper-based processes. It provides immediate and automated payment status updates, integrated remittance and payment information, and instant request-for-payment functionality, as well as enhanced communication between parties through its conversational capabilities.
“More and more businesses are looking to join the real-time payments revolution to provide enhanced payment options and capabilities to customers,” said Keith Gray, VP of Strategic Partnerships for The Clearing House. “We look forward to working closely with Bottomline Technologies.”
According to Aite Group, banks that are not considering how to enable and educate their clients on more efficient ways to move money and reconcile transactions risk a significant loss of transaction volume in the future. “Many businesses are expressing frustration at the lack of messaging and clarity from their bank in enabling real-time payment capabilities,” said Erika Baumann, Analyst, Aite Group. “Banks that are not taking steps to offer real-time payments to their business clients are at risk of losing valuable revenue, specifically to competitor banks that are able to clearly articulate the value of real-time payments as part of an effective and efficient payments strategy.”
“By providing real-time payments capabilities through Digital Banking IQ, we help banks expand their payment capabilities, strengthen their position with corporate customers, and build deeper, more insightful and engaged relationships,” said DeLuca.
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) helps make complex business payments simple, smart, and secure. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and state of the art fraud detection, behavioral analytics and regulatory compliance solutions. Thousands of corporations around the world benefit from Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline delights customers through offices across the U.S., Europe, and Asia-Pacific. For more information visit www.bottomline.com.