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April 5, 2005

CheckFree to deliver eInvoicing and payment service for Thai bank

Thailand-based Siam Commercial Bank has deployed the i-Series electronic invoicing and payment platform from Atlanta, Georgia-based CheckFree Software to be utilized in its business-to-business activities.

By CBR Staff Writer

Siam Commercial Bank (SCB) intends to replace its current in-house built eBilling service with CheckFree’s new product, which is expected to go live this month, in the hope of enhancing cash management and increasing its market competitiveness. SCB will be the first bank in Thailand to offer an eBilling service that is specifically focused on the business community.

SCB also hopes the new service will address the increasing demand for support tools that electronically-based billing services provide, including internet banking sign-on, multiple file format downloads, invoice queries and dispute handling along with flexible payment options, data analysis and further payment functionality to support cash management and customer account management processes.

In addition, the i-Series offers a data repository, or Payment Warehouse, that provides the bank and invoicers with a consolidated record of customer payments.

According to the bank, it will initially focus on the invoice servicing needs of its corporate internet banking customers with a view to signing on new corporate subscribers and its consumer-based customers at a future date.

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