Banc One Corp., along with Integrion Financial Network and CheckFree, said it will launch a program allowing the financial institution to provide Web-based electronic banking, bill presentment and payment services for consumers.
The program, which will be implemented by Columbus, OH-based Banc One later
this year, combines the security and scalability of Integrion’s Interactive
Financial Services (IFS) platform with CheckFree’s electronic bill presentment
and payment system, the companies said.
The new integrated service will enable Banc One customers to receive, view and
scrutinize a wide range of bills electronically. Rather than receiving paper
bills in their mailbox, consumers will be able to receive them conveniently
online. Customers can then pay these bills through their computer,
transferring funds directly from their bank accounts to pay any biller that
presents an online bill through CheckFree.
Using any standard 128 bit browser, a Banc One customer will enjoy a single
log-on Web site for all electronic financial services with integrated
enrollment and activation. Once activated, the Banc One customer can pay the
bill from the online summary page or choose to see the full bill in detail.
“The only way Internet-based banking will gain widespread acceptance is with
the continual development of integrated Internet-based financial services that give consumers easy access to multiple transactions,” said William M. Fenimore Jr., CEO and managing director of Integrion. “This announcement signals the beginning of a marketplace for truly integrated online financial services.”
Integrion and CheckFree forged a strategic partnership last year with the goal of delivering combined electronic banking, bill payment and presentment
services to financial institutions. Financial terms of the arrangement with
Banc One were not disclosed.
The system will connect Integrion’s IFS platform and CheckFree’s Bill
Presentment and Remittance system with Banc One’s internal bill payment
engine.