RealTime IT News

BroadVision, CheckFree Courting Banks

Business application maker BroadVision Inc. is teaming with electronic payment provider Checkfree Corp. hoping to get more banks to jump on the electronic payment bandwagon.

BroadVision is jump starting the effort with the announcement of One-to-One version 4.0 which allows financial institutions to connect directly to CheckFree's electronic bill payment and remittance processing systems. Once BroadVision's systems are installed, the financial institutions need only to establish a payment processing agreement with CheckFree.

Financial details of the venture were not disclosed. The new version is scheduled to ship by year's end.

"Electronic bill presentment and payment is the driving force behind the rapid growth of Internet banking," said Samir Mehta, senior product manager at BroadVision. "By enabling our product to work in conjunction with CheckFree, we're helping financial institutions offer their customers the services they are demanding."

"BroadVision's One-To-One financial services product enables financial institutions to strengthen their relationships with their customers," said Matt Lewis, senior vice president of electronic commerce product management for CheckFree. "Access to CheckFree's high-quality, low-cost processing infrastructure is an important component to any electronic banking and payment offering and today BroadVision is joining the ranks of providers with that access."