Corillian Corporation has entered an agreement with Spectrum, the bank-backed electronic bill payment systems company, to provide financial institutions with e-billing services via its Voyager banking package.
Under the agreement, the Corillian Voyager Internet banking platform will be certified to connect banks to the Spectrum electronic bill presentment and payment (EBPP) network. In turn, Spectrum will process and route the transactions through its network of participants.
Alex Hart, president of Corillian, comments: "Many of our financial institution clients were asking for access to the Spectrum network. This alliance will allow us to better serve our clients and gives their customers added electronic bill payment and bill presentment services."
Founded by JP Morgan Chase, Wachovia and Wells Fargo, Spectrum routes online payments, presentments, invoices, statements, and other related information through an EBPP switch. A total of 24 financial institutions belong to the Spectrum network, or have signed letters of intent to participate in the network, including six of the top ten US banks.