PayPal Lawsuits

Less than seven trading days after hitting “The Street”, PayPal’s stock plunged below its IPO offered price yesterday. The company is facing yet another lawsuit, this one coming from consumers. PayPal’s stock, which was priced at $13 per share on Feb. 15, briefly hit $12 per share yesterday, but closed at $13.35 per share. On its first day of trading, Feb. 16, the stock opened at $15.41 a share and hit a high of $22.44 on volume of 9 million shares. The company’s IPO was delayed after a rival firm filed a patent infringement lawsuit. Now, the infamous law firm of Jacoby & Meyers has filed a consumer lawsuit in Superior Court in Santa Clara County, California seeking class action status. The lawsuit contends that PayPal freezes customer accounts without clear guidelines and has very poor customer service to enable customers to remove holds on accounts. News of the lawsuit has reportedly flooded the law firm and “angry consumer” Web sites. Yesterday Jacoby & Meyers asked the court for an emergency order directing Web site operators to refrain from suggesting any affiliation with the class action lawsuit. The law firm says some Web sites are charging for information about the lawsuit and other sites are collecting information from angry PayPal customers. PayPal grew from 10,000 users to 12.8 million customers in a little more than two years. (CF Library 10/2/01; 11/16/01; 2/6/02; 2/8/02; 2/15/02; 2/19/02)



Liberate Technologies, the premier provider of open software
platforms for digital television, today announced groundbreaking new content
and services available on Liberate TV Platform software to Optus iTV
trial subscribers in Sydney.

Optus has partnered with leading studios such as Columbia TriStar, credit
card company MasterCard, games developer Two Way TV, and design studio TVMates
to offer a range of innovative new services to participants in their iTV
trials in Australia. Optus selected the Liberate TV Platform(TM) software
suite to deliver the services over its hybrid fibre coaxial networks.

“Liberate is the leader in new digital television services for cable
networks around the world,” said Don Fitzpatrick, executive vice president of
sales and services for Liberate Technologies. “Our platform has proven its
ability to scale in Europe, North America and now Australia to give network
operators flexibility in offering new services to help them lower churn, lower
costs and increase revenues.”

Martin Dalgleish, Acting Manager Director of Optus Consumer & Multimedia,
said: “Our partnership with Liberate is providing us with a valuable insight
into how digital interactive television may be successful in Australia. NVOD,
music, children’s content and other services such as games are proven drivers
of appeal for the Optus iTV trial service.”

Columbia TriStar

In a first for the Australian pay television industry, Columbia TriStar is
one of the studios delivering features for the near-video-on-demand (NVOD)
channels. Movie titles available include first run releases such as Crouching
Tiger, Hidden Dragon as well as classic Columbia features such as Lawrence of
Arabia. The digital service includes the capacity to view the features in true
16 x 9 format on wide screen television sets.


During the Australian summer, Optus offered a direct response advertising
campaign with MasterCard International that offered viewers in the trial an
escape to a dream vacation. MasterCard cardholders who registered their
MasterCard purchases got the opportunity to win a week on Daydream Island with
nine friends plus weekly chances to win weekend getaways to a tropical
location. Through synchronized broadcasting technology, viewers who clicked on
a button during a MasterCard commercial were taken directly to a MasterCard
web site to register for the promotion.

Two Way TV

For interactive games, Optus is offering on-demand games available
24 hours a day, including popular Two Way TV titles such as Minefield and Two
Way Triv. Optus aims to duplicate the success of games offered to subscribers
in the United Kingdom where players spend on average 80 minutes playing four
to five games a day, and 66 percent of first time players return to play


TVMates, an interactive television matchmaking service has proven
passionately compatible with Optus viewers looking to make love connections
through their television. The company boasts a database of more than
800,000 singles worldwide with a subscription growth rate of 4,000 a day.
Viewers search the database of members to find a match and they can then
choose to send an email to connect.

As part of its ongoing commitment to enable great interactive content,
Liberate continues to work with Optus and Australia’s content and application
partners to create new services that deliver entertainment to the viewers and
economic returns to the iTV community.

About Optus

Optus is an Australian leader in integrated communications — serving more
than five million customers. The company provides a broad range of
communications services including mobile, national and long distance services,
local telephony, international telephony, business network services, internet
and satellite services and pay television.

About Liberate Technologies

Liberate Technologies is the premier provider of open platforms for
delivering enhanced content and services to television viewers around the
world. Liberate’s software, based on Internet and broadcasting standards, is
an infrastructure platform supporting digital consumer services delivered by
cable, satellite and telecommunications companies. Liberate’s PopTV(TM)
program, with more than 2,600 registered members in 50 countries, is the
largest partner program in the interactive television industry. Headquartered
in San Carlos, California, the company has sales offices in the U.S.,
Australia, Canada, Japan, and the U.K.


NPC Signs Long John Silver’s

National Processing Company, a leading provider of merchant credit card processing and a wholly owned subsidiary of National Processing, Inc. announced the signing of a multi-year merchant processing agreement with Long John Silver’s Restaurants Inc. Long John Silver’s has been successfully piloting credit and debit card processing solutions with NPC and has now rolled out the service to corporate owned stores – many accepting credit and debit card payments for the first time.

Long John Silver’s is America’s largest quick-service seafood chain with more than 1,220 units worldwide. The first Long John Silver’s Fish ‘n’ Chips opened in 1969 in response to growing consumer demand for quick-service seafood. Long John Silver’s goal to provide each guest great tasting, reasonably priced fish, chicken and seafood, in a fast and friendly manner, on every visit ensures Long John Silver’s position as a leader in the quick- service seafood market.

“We are delighted to be rolling out credit and debit card processing to all Long John Silver’s corporate owned locations,” said Drew Soinski, senior vice president of Travel and Entertainment for NPC. “Our pilot with Long John Silver’s was very successful – resulting in a strong, competitive advantage for those locations accepting card payments. Our investment in technologies and processes for the quick service industry makes card acceptance affordable and convenient for virtually any merchant.”

“Again, NPC is pleased to be providing merchant processing solutions for another giant in the quick service restaurant business,” said Mark D. Pyke, chief operating officer for NPC. “This is a big step for Long John Silver’s to invest in credit and debit card acceptance for the first time in many of its locations. NPC will continue to focus our efforts on expanding products and services to new markets where card payments have not been traditionally accepted.”

Kevin Armstrong, president of Long John Silver’s Restaurants Inc. stated, “We are excited about offering our customers a fast, convenient and secure method of payment at our corporate-owned locations.” This is right in line with our promise to provide every guest great tasting, reasonably priced fish, chicken and seafood in a fast friendly manner.”

About Long John Silver’s

Headquartered in Lexington, Kentucky, Long John Silver’s merged with A & W Restaurants in 1999, under the ownership of Yorkshire Global Restaurants. The combined companies operate more than 2,270 restaurants in 47 states and 22 countries with combined sales in excess of $1.1 billion.

About National Processing, Inc.

National Processing, Inc. through its wholly owned operating subsidiary, National Processing Company (NPC(R)) is a leading provider of merchant credit card processing. National Processing is 86 percent owned by National City Corporation (NYSE: NCC) ( [][1] ), a Cleveland based $106 billion financial holding company. NPC supports over 600,000 merchant locations, representing nearly one out of every five Visa(R) and MasterCard(R) transactions processed nationally. NPC’s card processing solutions offer superior levels of service and performance and assist merchants in lowering their total cost of card acceptance through our world-class people, technology and service. Additional information regarding National Processing can be obtained at [][2].




ACI Worldwide, a leading international provider of enterprise e-payment
and Giesecke & Devrient Gmb, an international provider of smart
cards and smart card technology, announced a partnership to advance
the worldwide migration to smart card technology. The two will work
together to help financial institutions and other businesses launch and
manage smart card programs.

G&D is a worldwide supplier of e-payment smart cards that operate on a
number of platforms including STARCOS®, MULTOS(tm) and Java(tm). ACI
provides the ACI Smart Chip Manager(tm), an integrated software
application that controls the lifecycle of smart cards and the
applications that reside on them – including issuance and post-application
loads in the field. The system allows seamless easy configuration of
newly issued cards, applications and card products. As card numbers and
business grow, ACI’s Smart Chip Manager employs parallel processing for
high performance throughput and bandwidth. Together, G&D and ACI can
provide the technology needed to issue and manage all types of smart
cards, from single-application EMV and ID cards to extended
multi-application card schemes.

“To successfully launch a smart card program and take advantage of the
added value smart cards offer, it is not only the card that is important,
but also the process for managing the cards,” said Jan Mooijweer, business
manager of ACI Worldwide’s smart card division. “The combination of ACI
and G&D’s technologies will allow us to offer an end-to-end solution that
can help card issuers launch successful programs and reduce risks
associated with managing their smart card programs.”

“Whether migrating from magnetic stripe to chip cards, or launching an ID
card program, our partnership with ACI gives us the ability to offer card
issuers a high performance and very flexible system – one that is capable
of issuing tens of thousands of cards a day and managing millions of
cards,” said Christian Hirschvogel, partnership and alliance manager of

ACI’s chip card technologies support more than 20 million
multi-application cards on different operating systems/smart card
platforms worldwide.

About Giesecke & Devrient GmBH

Giesecke & Devrient (G&D) is an international high-tech group founded in
1852 as a specialist in printing banknotes and supplying security paper
and currency automation systems. Today, G&D is a technology leader in
providing smart cards, systems, solutions for telecommunications, electric
payments, transportation, health, ID, loyalty, Pay TV, multimedia and
Internet security (PKI).

The Giesecke & Devrient Group, headquartered in Munich, has subsidiaries
and joint ventures operating all over the world. G&D employs almost 7,000
people worldwide and generated an annual turnover of 1,1 billion Euro in
2000. Throughout the company’s history, it has consistently pioneered the
use of innovative technology. Today, the supply of complex system
solutions and customized services plays an increasingly important part in
the organization’s activities.

About ACI Worldwide

Every second of every day, consumers are initiating electronic payment
transactions – getting cash at ATMs, using debit and credit cards to make
purchases in stores and on the Internet, banking by phone and PC, paying
bills online. Twenty billion times a year, ACI software is used to
process these transactions, powering the world’s online payment systems.
ACI was founded in 1975 and pioneered the development of applications and
networking software for online transaction processing. Today more than
530 customers in 71 countries use ACI supplied software. Visit ACI
Worldwide on the Internet at


AmEx IT Deal

American Express and IBM signed a seven-year, $4 billion deal Monday under which AmEx with have on-demand access to IBM’s computing resources. The IT partnership will begin with the transfer of AmEx U.S. technologies operations work to IBM starting this Friday. The transfer of American Express international technologies operations work is scheduled to begin in May and will take a phased approach, dependent on the completion of in-country agreements and other matters and compliance with local regulatory requirements. Approximately 1,500 AmEx technology employees in the U.S. will be able to transfer to comparable positions at IBM next month, physically remaining at AmEx properties. About 500 international employees will follow beginning in May. AmEx indicated that fewer than 20 jobs will be totally eliminated as a result of the IBM outsourcing deal. AmEx will continue to retain its core technology competencies, including information technology strategy, strategic technology relationships, the development and maintenance of applications and databases and the management of its businesses’ technology portfolios. IBM will also optimize AmEx’s worldwide computer systems and Web sites.


WebPay for Small Business

CheckFree Corporation and Whitney National Bank announced that Whitney has incorporated CheckFree’s WebPay for Small Business service as part of its Whitney Business Online offering. Whitney Business BillPay offers small business customers a customized electronic bill payment application that enables easy and secure online payment of all bills. Whitney is addressing the needs and desires of its small business banking customers by providing this new bill pay service. As a result, Whitney is further enhancing its existing corporate banking relationships across the five-state Gulf Coast region stretching from Houston, Texas to the panhandle of Florida.

“The decision to offer Whitney Business BillPay as part of Whitney Business Online logically corresponds with the broad range of Internet services we provide to our business customers,” said Lou Porcelli, Whitney’s Internet Banking Manager. “The addition of CheckFree’s technology offers the first application designed specifically to meet the electronic bill payment needs of businesses.”

By offering services such as Whitney Business Bill Pay as part of its online capabilities, Whitney is capitalizing on the continued growth in the number of small businesses that use the Internet to manage their finances. Small business customers can also take advantage of the convenience, ease-of- use and control associated with online bill payment. Whitney small business clients can simply click to approve bills for payment, determining when and how much will be paid. Small business banking users are able to leverage electronic bill pay as a way to streamline their accounts payable, manage float, save valuable time and money, and experience more efficient record keeping.

“CheckFree is dedicated to making electronic bill payment easy and viable for customers of varying sizes,” said Marc Berkowitz, product manager at CheckFree. “By offering CheckFree’s WebPay for Small Business, Whitney will allow all of its consumer and business customers to leverage electronic bill pay as a way to better manage their accounts and dramatically improve their billing processes.”

Benefits of Whitney Business BillPay

Whitney’s product is driven by CheckFree’s third generation, proven user interface, with payments powered by CheckFree’s Genesis platform. This technology provides Whitney’s small business banking customers with enhanced features such as:

Comprehensive Business Payment Fields — Whitney Business Customers can include key remittance information with their electronic payment, including invoice, discount and adjustment information. This allows their vendor to easily identify and apply the payment. Business customers can also assign their own check number to each payment for better tracking and reconciliation within small business accounting programs.

Improved Record-Keeping Capabilities — Small businesses can better their bookkeeping abilities by easily downloading all payment activity directly into various Financial Management software packages including Intuit’s QuickBooks(R) or Quicken(R), and Microsoft Money(R).

Guaranteed Transactions — Payments scheduled to arrive on time are guaranteed, backed by the CheckFree Guarantee, which protects against liability for late fees and interest charges.

Electronic Bill Delivery — Small businesses can receive bills electronically from companies nationwide in addition to various regional telecommunications, utility, credit card companies and more.

Customizable User Interface — Customizable front-end capabilities allow Whitney to brand the user interface as Whitney Business BillPay, thus providing a seamless online banking experience to their small business clients.

About Whitney National Bank ([][1] )

New Orleans-based Whitney National Bank, with assets in excess of $6.7 billion, is the oldest continuously operating bank in New Orleans and a banking industry leader in the Gulf South. The bank offers a wide variety of consumer, commercial, trust and investment banking products and services. Founded in 1883, the Whitney has 130 branch locations in Louisiana, Alabama, Florida, Mississippi and Texas. For more information regarding Whitney Bank, visit [][2] or call 877-611-9448.

About CheckFree ([][3])

CheckFree is the leading provider of financial electronic commerce services and products. Founded in 1981 and celebrating its 21st year in e- commerce, CheckFree is comprised of three divisions: Electronic Commerce, Software, and Investment Services. CheckFree launched the first fully integrated electronic billing and payment solution in 1997. As of December 31, 2001, CheckFree’s Electronic Commerce division enabled 5.9 million consumers to receive and pay bills electronically. The company has multi-year contracts with 244 of the nation’s top billers to provide online billing and payment through about 430 financial services organizations, including banks, brokerage firms, Internet portals and content sites and personal financial management (PFM) software. CheckFree Investment Services provides a broad range of investment management services to thousands of financial institutions nationwide. The division’s clients manage about 1.2 million portfolios totaling more than $500 billion in assets.

CheckFree’s Software division provides solutions through three operating units: CheckFree ACH Solutions, CheckFree Financial and Compliance Solutions (CFACS), and CheckFree i-Solutions. CheckFree ACH Solutions provides software and services that are used to process more than two-thirds of the nation’s six billion Automated Clearing House payments, while CFACS provides reconciliation and compliance software and services to more than 400 organizations in the banking, brokerage, utility, retail, insurance and credit card industries, among others. CheckFree i-Solutions is the leading provider of e-billing and e-statement software and services for both business-to-consumer and business- to-business applications, with more billers as clients than all of its competitors have combined.




Global Payments Inc., the largest publicly traded, independent Visa and
MasterCard acquirer in Canada, announced today the launch of Statement
@dvantage”, designed to facilitate merchant operational efficiencies in the
Canadian marketplace.

Statement @dvantage provides Canadian merchants with one comprehensive,
consolidated billing statement for Visa, MasterCard and Interac Direct
transactions. The new statement provides detailed billing and related
point-of-sale services information, as well as enhanced chargeback reporting
and monitoring features. In addition, the statement provides summary
transactions for other card types, including American Express® and Diners

Traditionally, Canadian merchants receive two statements – one from their Visa
acquirer and another from their MasterCard acquirer. Our customers have
told us
that a single statement with the ability to reconcile Visa and MasterCard
sales helps them conduct business more effectively, said Paul R. Garcia,
President and CEO, Global Payments Inc. In addition, this capability enhances
our operational efficiencies by combining and simplifying multiple internal

Global Payments significantly broadened its presence in North America in 2001
with the acquisition of the merchant card services business of Canadian
Imperial Bank of Commerce and National Bank of Canada. Global also formed
ten-year marketing alliances with each of the banks.

These transactions gave Global Payments the capability to provide Canadian
businesses one source for their Visa, MasterCard, debit and other payment
processing requirements, as well as making it one of North America s largest
payment solution providers.

Global Payments Inc. (NYSE: GPN) is a leading provider of electronic
transaction processing services to merchants, Independent Sales Organizations
(ISOs), financial institutions, government agencies and multi-national
corporations located throughout the United States, Canada and the United
Kingdom and Europe. Global Payments offers a comprehensive line of payment
solutions, including credit and debit cards, business-to-business purchasing
cards, gift cards, Electronic Benefits Transfer (EBT) cards, check guarantee,
check verification and recovery, terminal management and funds transfer


TransUnion AbiliTec

Acxiom Corporation and TransUnion announced an exclusive, multi-year agreement to implement Acxiom’s AbiliTec Customer Data Integration technology with TransUnion.

The agreement means TransUnion customers will now be able to leverage the combined power of Acxiom and TransUnion data using AbiliTec to fulfill all their CDI needs. TransUnion is the only consumer reporting company that can interact with outside companies by using AbiliTec Links.

Benefits of having AbiliTec at TransUnion include providing customers consistency across all entities with fast, accurate and streamlined data in a batch and real-time environment, improved turnaround times and fresher data updates to enhance marketing processes.

AbiliTec is Acxiom’s industry-leading CDI technology. CDI is a combination of technology, software, processes and services required to achieve a single, accurate and complete view of a customer across multiple sources of customer data (internal and external), databases and business lines. A company with successful CDI can instantly recognize customers and have the relevant information dynamically available – regardless of the interaction contact point.

“TransUnion’s use of AbiliTec is further confirmation of the accuracy and importance of AbiliTec technology,” said Acxiom Company Leader Charles D. Morgan. “TransUnion, as a leader in its field, understands the necessity of speed and accuracy in its transactions. AbiliTec will help TransUnion deliver the kind of customer-responsive service that it has become known for.” “Adopting Acxiom’s innovative AbiliTec technology to our processes will provide both real bottom-line results and improved interaction between TransUnion and our customers,” said Harry Gambill, president of TransUnion. “Acxiom’s AbiliTec is a proven winner in the marketplace and TransUnion is excited to bring our customers the benefits of AbiliTec.”

About TransUnion

TransUnion is a leading global information solutions company that customers trust as a business intelligence partner and commerce facilitator. TransUnion offers accurate and reliable financial data through a broad range of products and services that enable customers to manage risk and capitalize on market opportunities. The company uses leading-edge technology coupled with extensive analytical capabilities to prevent fraud and facilitate credit transactions between businesses and consumers across multiple industries and channels, including the Internet. Founded in 1968, Chicago-based TransUnion employs 3,600 associates that support clients in 24 countries. Visit us at [][1].

About Acxiom

Acxiom Corporation, a global leader in Customer Data Integration (CDI) and customer recognition infrastructure enables businesses to develop and deepen customer relationships by creating a single, accurate view of their customers across the enterprise. Acxiom achieves this by providing CDI technology, database management services, and premier customer data content through its AbiliTec(R), Solvitur(R) and InfoBase(R) products, while also offering a broad range of information technology outsourcing services. Founded in 1969, Acxiom (Nasdaq: ACXM) is based in Little Rock, Arkansas, with locations throughout the United States and with operations in the United Kingdom, France and Australia. Acxiom revenues were $1.01 billion for the fiscal year ended March 31, 2001. For more information, please visit [][2].



NetTransact Upgraded

New version provides the first multi-lingual, multi-currency bill handling capabilities, as well as enhanced online dispute resolution and buyer-controlled rules for streamlined payments

At a time when it costs U.S. companies more than $180 billion annually to process paper bills and invoices, Bottomline Technologies(R) (Nasdaq: EPAY) today announced a new version of its NetTransact(R) B2B electronic invoice presentment and payment (EIPP) system that eliminates paper and slashes the cost, time and headaches involved in processing financial transactions. Bottomline, a leading global technology provider of Financial Resource Management (FRM) software, added new features to NetTransact that let users resolve invoice disputes online, handle billing in multiple languages and currencies, and streamline payments via automated buyer-controlled rules. Industry analysts estimate that it costs companies between $7 and $15 to process each paper-based invoice that comes through the door. NetTransact eliminates those exorbitant costs by accelerating cash receipts, automating and accelerating dispute resolution and improving cash flow and application, all in a single, comprehensive package. The system provides increased cash collection for suppliers and greater control over payments for purchasers. New reporting improves service levels with the business down the street or across the globe.

Habla “Payment due”?

NetTransact 4.0 is the first automated payments system on the market to incorporate multi-lingual and multi-currency functionality. Using one common platform, billers in one country can present invoices and accept payments from payers in other countries around the world, tearing down the cumbersome language barriers that have traditionally slowed international bookkeeping. The user interface enables trading partners to review invoices in the language of their choice, enhancing communications and leveraging existing bank accounts local to the country of origin. “The challenging economy, world events and the growing fear of mail security are moving organizations to take a closer look at their current paper-based billing, collections and customer-facing systems,” remarked Jeetu Patel, executive vice president of research for Doculabs, a respected industry analyst and consulting firm specializing in e-business technology. “When evaluating e-commerce strategies, large billers or financial institutions can consider an in-house software solution for B2B invoicing such as NetTransact. Leveraging the Web, EIPP systems automate workflow to effectively manage the order-to-cash process.”

Streamlined online dispute resolution

NetTransact 4.0 is also the first EIPP system to deliver interim messaging, which automatically ensures that a supplier’s enterprise resource planning (ERP) or customer relationship management (CRM) system acknowledges the results of an online payment dispute resolution. By managing the results of online dispute resolution, this feature effectively synchronizes adjusted invoice detail that can be posted to a supplier’s ERP and/or CRM system.

To streamline settlement, NetTransact version 4.0 adds a template-driven format that buyers can use to streamline how they process purchases. For example, a buyer receiving the same amount of product at the same price every month must usually manually track each invoice to make sure the vendor has shipped the right volume at the right price. NetTransact’s rules-based logic lets the buyer create a set of guidelines for each vendor. If an order arrives and the volume, price or some other element is off, the system will automatically notify the buyer of the discrepancy. If not, the system automatically routes the bill to payment, so the buyer’s accountants don’t have to pore over every bill. Buyers can automatically schedule payments based on previously defined criteria and through the system’s Web interface, can view status of invoices paid through another source, such as an ERP system. Providing payment status via the browser eliminates vendor inquiry phone calls and associated accounts payable resource demands. Added payment flexibility, including the option of credit card payments and the ability to originate online requests for credit, reduces payment and credit issuance costs.

In addition, version 4.0 supports restatement of taxes based on individual line item adjustments. This can provide added business benefits to supplier organizations whose invoices reflect products and services as well as appropriate state, local and federal taxes. NetTransact facilitates electronic invoice routing and approval procedures. It also optimizes a payer’s ability to take advantage of discount payment terms, while eliminating the need to generate and process paper payments.

“By automating the invoice-to-pay process with a secure, Web-enabled EIPP solution, suppliers can turn bills and invoices into cash, which is crucial in today’s business climate,” said Dan McGurl, chairman and CEO of Bottomline Technologies. “The buyer-focused developments within version 4.0, including payment flexibility and the integration of rules-based logic to reduce manual exception processing, provide additional value to payer organizations. The ability to interact more quickly and efficiently with their customers, combined with a reduction in resources required for paper-based invoice handling, and the costs and delays associated with mailing invoices, all justify the business case for moving to EIPP.”

Bottomline’s NetTransact 4.0 is an end-to-end system for B2B e-billing, including invoice presentment and payment software, enrollment, invoice and receivables data integration, invoice design and customer care. Channel partners for NetTransact include Citibank, FleetBoston Financial, UPS and Northern Trust. Hosting partners for NetTransact include Princeton e-Com and Magnet Communications, leading providers of electronic billing services.

About Bottomline Technologies

Bottomline Technologies (NASDAQ: EPAY) is a leading global technology provider of Financial Resource Management (FRM) software and services. Bottomline’s comprehensive Suite of FRM offerings enable businesses and financial institutions to more effectively manage their critical financial transactions, cash decisions and trading partner relationships, leveraging the Web. FRM Applications include Electronic Payments and Cash Management, Electronic Invoice Receipt and Management, Electronic Invoice Presentment and Payment (EIPP), Electronic Banking and Information Reporting. Founded in 1989, Bottomline maintains its corporate headquarters in Portsmouth, NH and international headquarters in Reading, England. For more information, visit Bottomline on the Web at [][1], or dial (800) 243-2528 or (603) 436-0700.



Instant Fraud Alerts

Toronto-based 724 Solutions and HNC Software have teamed to offer wireless alerting technology for fraud detection services. The combined software is expected to enable credit and debit card issuers to proactively and inexpensively alert their cardholders to suspicious transactions via a variety of wired and mobile devices such as PDAs. Card holders will be able to send a reply message to verify the validity of the transaction or connect immediately to a fraud investigation agent. HNC’s ‘Falcon Fraud Manager’ is a neural network-based predictive software system that examines transaction, cardholder and merchant data to detect a wide range of payment card fraud. 724 Solutions will begin offering the solution to current HNC customers in the second quarter.



ATB Financial also reported increased earnings
in the third quarter, with net income of $46.7 million for the period ending
December 31, 2001, compared to $41.4 million for the same period last year.
The third quarter results increased ATB’s equity to $565.8 million as at
December 31, 2001.

“ATB has established a strong track record for sustained earnings and
increased marketshare over the past five years,” said Bob Normand, President
and CEO of ATB Financial. “We are committed to being Albertans’ first choice
for financial services.”

Financial Highlights

– Total assets of $12.4 billion is an increase of 7.76 percent over last

– Total loans at $10.3 billion is an increase of 6.85 percent over last

– Total deposits of $11.4 billion is an increase of 6.14 percent over
last year.

– Net interest income of $92.6 million is up slightly by 0.18 percent
from $92.4 million for the same quarter last year.

– Non-interest expenses of $70.8 million is an increase of 5.46 percent
from $67.1 million for the same quarter last year.

– ATB’s efficiency ratio, non-interest expenses as a percentage of
operating revenues, is 58.74 percent compared to 57.81 percent for the
same nine-month period last year.

– The allowance for credit losses, including specific and general loan
loss allowance, exceeds gross impaired loans by $86.6 million. Net
impaired loans represent a negative 0.83 percent of total loans at
December 31, 2001, compared to a negative 0.58 percent at
December 31, 2000.

New Visual Identity

On January 21, 2002, a new corporate identity was launched for Alberta
Treasury Branches, now known as ATB Financial. The new corporate identifier
retains “ATB”, which is the acronym of our legal name, and adds “Financial” to
better describe what we do: we provide a broad range of financial services to
Albertans. As our legal name remains Alberta Treasury Branches, no changes are
required to customer accounts, or contracts and agreements with customers and
suppliers. Signage will be gradually replaced on all branches, starting with
large urban centers, followed by mid-size urban markets and rural communities.

Products and Services

A Cooperation and Services Agreement was signed with Rabobank
International, the international corporate and investment banking arm of the
Dutch-based Rabobank Group, to provide financial services to each others’
customers. The alliance will focus on opportunities in the value-added
agri-industry and forestry sectors, providing a global reach to ATB’s
customers doing business outside of Alberta. The agreement also provides an
opportunity for joint lending and a referral service for Rabobank agricultural
customers who are relocating to Alberta.

The personal Internet banking platform was upgraded in December 2001. The
new platform provides improved speed and enhanced functionality including
online bill registration, postdated bill payments, postdated transfers,
MasterCard balance information, and downloading capability of information into
money management software applications like Quicken. ATB Online personal
customers using the bill payment feature between December 12, 2001 and
July 31, 2002, will have their name entered into a draw. The first prize is a
2002 Chevy Avalanche 1500 4×4 and the second prize, an ATB Alberta Gold
MasterCard with a $5,000 credit balance.

Two new MasterCard products were launched to support Alberta 4-H. For
every dollar charged to the Alberta Gold 4-H MasterCard and the Alberta
Agri-Business MasterCard, one percent will be donated to the 4-H Millennium
Fund, administered by the 4-H Foundation of Alberta, to enhance the quality of
4-H programs throughout the province.

A new equity linked GIC was launched in October 2001. The Tri-Sector GIC
provides growth from a selected group of 15 pharmaceutical, technology and
telecommunications, and financial companies in Canada and the US. The demand
for this product has been very positive and it will also be available during
the RSP season.

The 30-month mortgage, reintroduced in September 2001, has been very
popular with renewing and new mortgage customers. With current market
conditions the Lower than Prime mortgage has also attracted mortgage customers
wanting to take advantage of the low interest rate environment.

Economic update

Recent economic indicators in North America continue to be mixed. US
industrial production continues to fall, albeit at a slower pace, while
consumer confidence shows signs of improvement. However, unemployment levels
continue to rise in both Canada and the US. The effect of interest rate
declines that began over a year ago are now being felt and most economic
observers believe the American economy will begin to gain momentum by the
second half of 2002.

Alberta has seen its unemployment rate rise over the past quarter, with
weaknesses appearing in the accommodation, construction, trades, and
transportation sectors. Due to continued high in-migration, low mortgage
rates, and very low rental vacancies, Alberta has experienced record housing
re-sales and the highest level of new housing starts in a decade.

The economic outlook is one of continuing uncertainty. Drought conditions
in southern Alberta pose a serious challenge to agricultural producers and
their communities. Conventional oil and gas drilling is slowing as a result of
a one-third drop in cash flow to the energy industry. Investment in the
province is expected to decline due to reduced drilling activity and the
deferral of certain provincial government capital projects. However,
investment levels will continue to remain high in historical terms. With the
strategic importance of the oil sands, expansion of mining and refining
capacity continue to proceed.

Community involvement

ATB supported all 11 Alberta United Way Associations in a province-wide
fundraising effort. Through employee contributions, special events and a
corporate donation, over $194,000 was raised to support United Way campaigns
in Alberta communities.


Amolak Grewal was appointed Chief Operating Officer, effective
November 26, 2001. Amolak is responsible for the retail, independent business,
agri-industry, commercial banking and wealth management lines of business.
This includes the operation and performance of the Marketing, Sales, and
Electronic Banking and Central Services business units. Other appointments
include Ken Casey, Senior Vice-President Electronic Banking and Central
Services; and Harry Todd, Vice-President Credit.

Annual Public Meeting

The ATB Financial Annual Public Meeting will take place on Tuesday,
June 25, 2002, at 3:00 p.m. (MST) at the Westin Hotel (10135 – 100th Street)
in Edmonton, Alberta. To pre-register, please call (780) 408-7309.

ATB Financial, an Alberta-based financial institution, was established in
1938. Today, ATB serves 240 communities through a network of 144 branches, 132
agencies, a Customer Contact Centre, 222 automated banking machines and
electronic banking services. For further information on ATB Financial, visit