ABN AMRO Launches Global B2B e-Bill Presentment and Payment Solution Suite for Corporations and e-Marketplaces

Business Wire, Nov 8, 2000

Business Editors

CHICAGO--(BUSINESS WIRE)--Nov. 8, 2000

ABN AMRO Bank today announced it will bring to market a comprehensive suite of B2B electronic bill presentment and payment services that meet the diverse global needs of corporations and e-marketplaces. Drawing on ABN AMRO's broad experience in global receivables management and payment capabilities, the Bank's offerings will combine true B2B invoicing functionality with international settlement tailored to meet the needs of the Bank's corporate billers, business payors, and e-marketplace clients.

ABN AMRO's service will provide the end-to-end functionality that is critical for B2B transactions, accommodating highly variable invoice data and wide-ranging global regulatory requirements. Combined with a real-time, interactive approach to dispute resolution and multiple payment options to meet the needs of single billers and e-marketplaces, ABN AMRO's electronic bill presentment and payment service takes an all-inclusive approach to meeting market needs.

In order to bring this comprehensive suite of e-bill services to market, ABN AMRO is packaging its solutions with the core competencies of two best of breed e-bill technology companies -- Derivion, and BillingZone.

Jeetu Patel, vice president of research at Doculabs, a research and advisory firm specializing in e-business solutions, commended the Bank's approach saying, "ABN AMRO's proposed strategy promises a wholistic approach to the B2B electronic bill presentment and payment space -- facilitating a complete solution for corporates and e-marketplaces, alike."

ABN AMRO will leverage Derivion's robust B2B bill presentment, adjudication and payment processes, and the Derivion platform's integration capabilities. BillingZone brings a core competency in bill aggregation and management for payors, a key component in driving payor adoption.

Both vendors are committed to partnering with ABN AMRO to expand the product offering on a global scale, leveraging ABN AMRO's international footprint and cutting edge electronic commerce capabilities. The partnerships with Derivion and BillingZone represent the first phase in ABN AMRO's comprehensive e-bill strategy. Future phases, and potentially new alliances, will expand and keep pace with dynamically changing business models.

"This partnership is truly an example where the whole is greater than the sum of its parts in capitalizing on the strengths of all parties," said Sarah Billings, first vice president and e-commerce strategic manager, ABN AMRO Bank.

"Enlisting partners and providing (globally) integrated technology is an important step in the Bank's vision to provide solutions in the U.S. and abroad that enhance clients' working capital," said Stephen Skrobala, Amsterdam-based vice president of ABN AMRO's accounts payable and accounts receivable services. ABN AMRO plans a U.S. pilot rollout in first quarter, 2001 with a global rollout in the third quarter.

About ABN AMRO

Netherlands-based ABN AMRO Bank N.V. is one of the world's largest banks with total assets of $511 billion and more than 3,500 locations in over 70 countries and territories. In North America, ABN AMRO is headquartered in Chicago and has $171 billion in assets and more than 18,000 employees with wholesale banking offices in 13 cities in the U.S., Canada and Mexico. Major North American Subsidiaries include ABN AMRO Incorporated, an investment banking advisory and brokerage firm; ABN AMRO Asset Management (USA) Inc.; LaSalle Bank in Chicago; Standard Federal Bank in Michigan and EAB in New York.

About Derivion

Derivion is the leading e-billing ASP that delivers comprehensive B2C, B2B, and small business solutions to automate and streamline bill delivery, payment, and customer care processes. Derivon enables billers of all sizes with three core e-billing solutions: inetBiller(SM), inetBiller B2B(SM), and a small business e-billing solution. In addition, Derivion supports billers with DigitalCare(SM), a unique service offering that integrates traditional and Internet-based CRM tools to enhance customer relationships. DigitalCare incorporates Activation Marketing - a powerful resource aimed at accelerating consumer adoption of e-billing. Derivion has an extensive network of partnerships with industry leaders in electronic bill distribution and payment processing including Checkfree, First Union, MasterCard RPPS, Comerica, and Texas Capital Bank. Derivion also connects billers to virtually all consumer access points such as Yahoo! Quicken.com, Charles Schwab, and BankOne through strategic alliances with Paytrust, Intuit, and Checkfree. Derivion leads the industry with pioneering technology and multi-layered services, currently working with more than 70 B2C and B2B billers to annually digitize over 200 million bills. The Atlanta-based company was founded in 1998 and maintains research, development, and additional sales offices in Toronto, Canada.

About BillingZone, LLC

BillingZone, LLC offers a business-to-business electronic bill presentment and payment service that provides businesses with a consolidated model for presenting and paying invoices on the Internet. Its flagship site, BillingZone.com(TM) is expressly designed to meet the needs of corporate billers and payers and to provide payers the convenience of paying multiple bills at one site. BillingZone.com streamlines the complexity of invoicing and payment processes, helps companies realize significant cost savings by eliminating paper and manual processes and speeds up the communication between companies and their customers. BillingZone, LLC is a joint venture or two industry leaders, PNC Bank, N.A. a member of The PNC Financial Service Group, Inc. (NYSE: PNC), and Perot Systems Corporations (NYSE: PER).