Princeton eCom, a leading provider of electronic payment solutions, announced that its PayAnyone solution has been selected by Bank of the West, one of the largest Western- based banks in the nation, to provide payments processing for online retail banking.
PayAnyone delivers greater efficiency and cost reduction as well as faster remittances to Bank of the West and its customers by offering transaction-based pricing and providing access to Princeton eCom’s extensive direct biller connections and electronic biller directory. As a result, Bank of the West will increase its electronic rate, lower costs, and lower claims.
“Bank of the West wanted a proven solution that we could trust in effectively supporting our online bill payment services and, at the same time, improve efficiencies and reduce claims rates,” said Jim Ford, Executive Vice President, Planning and Development at Bank of the West. “Princeton eCom was able to meet these objectives and help us enhance the online banking experience for our customers while reducing processing costs.”
“As online banking continues to grow and customers’ expectations rise, banks must address meeting these demands to stay competitive but must do it as effectively as possible to maximize their investments,” said Ron Averett, President and CEO of Princeton eCom. “Princeton eCom has quickly risen as a leading solutions provider because of our comprehensive suite of services that are tested and successful and deliver the quality and value needed in the industry.”
About Bank of the West
Founded in 1874 in San Jose, California as Farmers National Gold Bank, $41 billion-asset Bank of the West () is one of the four largest Western-based commercial banks, offering a full range of personal, business, international banking, and trust services. Bank of the West currently operates 480 banking locations in 16 Western and Midwestern states.
About Princeton eCom
Princeton eCom is an industry-leading provider of electronic payment solutions with more than 1400 banks and 200 biller customers, including many of the Top 100 banks and Fortune 1000 corporate billers. Offering one of the only single vendor solutions for payments and presentment, the company gives customers the convenience of multi-channel payment options and seamless integration with current systems, along with lowest claims rate in the industry at .002%. For more information, visit .