AmSouth Bank plans to allow its commercial clients to electronically present bills to their consumer customers and facilitate payments through the Internet.
To facilitate this goal, AmSouth will offer Metavante's Electronic Presentment and Payment (EPP) service to its retail lockbox customers, as well as to prospective clients. This Electronic Presentment and Payment service, coupled with AmSouth's retail lockbox product, will provide commercial clients with a comprehensive billing and receivables solution.
The EPP engine extracts and optimizes biller data and other documents for electronic presentment. Metavante delivers these services as an application service provider (ASP).
Birmingham, Ala.-based AmSouth services 75 retail lockbox clients with a monthly volume of 2.5 million items.
"Electronic presentment and payment is a critical, competitive offering that will retain and attract new customers," according to Steve Rueve, senior vice president of commercial product services at $38 billion AmSouth. "Metavante gives us an end-to-end presentment and payment solution that will enable us to offer an exciting new product as part of our suite of e-banking services."
In use by nearly 2,500 clients, Metavante Electronic Presentment and Payment offers a comprehensive, fully scalable, end-to-end solution that allows companies to electronically prepare bills and statements, and enables their customers to receive them and make payments on the Internet. The solution enables billers to automate and streamline bill delivery, payment, and customer care processes. It provides consumers with a bill management service that allows them to view, pay, manage and automate all of their bills online. Metavante EPP also delivers a "pay anyone" electronic bill payment engine for businesses and consumers.