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Bottomline Wins $4.2M Bank Deal

Bottomline Technologies , a Portsmouth, N.H., provider of Web billing, payment and electronic banking software, has landed a three-year, $4.2 million contract extension with Lloyds TSB Bank.

United-Kingdom-based Lloyds TSB will use Bottomline to outsource its business check and credit processing service for its 5,000 business customers. The contract will involve the processing 250 business client orders per month and the supplying 11 million payments and credits per year.

"We chose Bottomline Technologies because of the history of service excellence to our business customers, their innovative approach to improving the interfaces with our clients and the competitiveness of their proposal," said Richard Cove, of Lloyds.

Founded in 1989, Bottomline has its international headquarters in Reading, England. Bottomline also has satellite offices located in most major cities.

Bottomline said its ability to bring the new system to production in six months is attractive for clients' who need to complete projects quickly. The company's software is used by 5,500 organizations representing every major industry sector.

In late September, Bottomline landed a deal with FleetBoston's international cash management division to power its International WebConnect online banking portal. Terms were not disclosed.

Shares of EPAY rose 0.38, or 5 percent, to 7.71 at midday. In the last 52 weeks the issue has ranged from 2 to 28.875.