WATERBURY, Conn.--(BUSINESS WIRE)--Aug. 22, 2000--Webster Bank has
formed a strategic alliance with an e-commerce company that will
greatly improve electronic bill paying for its online services
customers.
Webster Bank, a provider of diversified financial services, and
Princeton eCom, a leading provider of electronic bill presentment and
payment services, today announced a strategic alliance that will allow
Webster to develop faster and easier ways for online customers to pay
their bills electronically.
"For those who choose the convenience of home banking via the
Internet, this strategic alliance with Princeton eCom will allow
Webster to greatly enhance its electronic bill paying offerings," said
Fran Duggan, senior vice president, Internet Development. "Our core
strategy is to continue to bring the best of the Web to our
customers."
"Banks like Webster recognize the growing importance of offering
customers an alternative to traditional paper bill payments and are
seeking cost-effective and flexible solutions to their customers'
demand for online banking," said Ronald W. Averett, president and COO
of Princeton eCom. "We're very pleased to be working with Webster to
develop online billing services that add the power of the Internet to
the strong relationships Webster Bank enjoys with its customers."
About Princeton eCom
Princeton eCom, the first company to present a bill on the
Internet, is a leading provider of electronic billing and payment
services to more than 650 corporations and financial institutions
including Ameritech, Verizon Wireless, Cellular One, and Cinergy Corp.
Princeton eCom enables businesses to present consumer bills and
business invoices on the Internet and it provides consumers and
businesses with the ability to access and pay those bills online, over
the phone, or using a wireless digital device. It also provides
electronic payment processing services to banks, credit unions, and
other financial institutions. Princeton eCom's range of services
include electronic lockbox, electronic collection, and electronic
credit card balance transfer services as well as customer care and
customer service programs.
The company has built a comprehensive bill distribution network
through strategic alliances with banks, credit unions, home banking
software providers, networks like MasterCard RPPS, and web portals.
About Webster Bank
Connecticut-based Webster Bank provides business and consumer
banking, mortgage, insurance, trust and investment services through
more than 110 banking offices, 200 ATMs and the Internet
(www.websterbank.com). Webster's online mortgage subsidiary at
www.nowlending.com on the Worldwide Web originates low-cost mortgages
across the United States.
CONTACT:
Webster Bank
Jim Kalach, 203/578-2461
jkalach@websterbank.com
or
Princeton eCom
Tom Healey, 609/606-3104
thealey@princetonecom.com