| By Jim Bruene on March 17, 1999 4:05 PM | Comments (0) |
M&I Data Services
Obtained from Travelers Express
Tim Patneaude
1100 W. Lake Park Drive
Milwaukee, WI 53224
(414) 577-8969
tim.patneaude@midata.com
www.midata.com or
www.midirectnet.com
Electronic Bill Pay Volume: 1.6 million payments per month across all products: PC, Web, dial-up, tele-phone. Payments are 43% electronic, drawn on 700 financial institutions, and sent to 400,000 payees.
Status Report:
- Acquired the MoneyLine Express business unit of Travelers Express in January 1999; conversion will be completed in early May.
- Acquired ADP’s Electronic Banking Services Division in March 199 with 120,000 business users, 110 financial institution clients, and annual revenues of $40 million; acquired products include: ADP Business Express, CashExpress, and FORTE/FORTExpress.
- Provides bill payment services to 170 financial institutions.
- M&I’s DirectNet, the largest service bureau for S1, is currently used by 75 financial institutions, projected to grow to 150 this year.
Bill Presentment Plans: Expected to be announced after acquisitions are assimilated.
Service Providers Using
M&I Bill Payment
| AdAstra | Arksys |
| Destiny Software | Digital Insight |
| eCommLink | Goldleaf |
| Jack Henry | M&I Data Services |
| Mesa Internet | NCR |
| nFront, Inc. | Regency Voice Syst. |
| SBS Corporation | S1 |
| Virtual Fin’l Svcs | Net Delivery |
Source: M&I Data Services, 3/99
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