Sovereign Bank Offers Enhanced and Free Online Bill Payment Service
15 Novembro 2004 - 5:41PM
PR Newswire (US)
Sovereign Bank Offers Enhanced and Free Online Bill Payment Service
WYOMISSING, Pa., Nov. 15 /PRNewswire-FirstCall/ -- Sovereign
Bancorp, Inc. announced that it has significantly enhanced its
service for viewing and paying bills online at
http://www.sovereignbank.com/. The new BillPay service is now free
and made available through the bank's technology partnership with
CheckFree Services Corporation, a subsidiary of CheckFree
Corporation (NASDAQ:CKFR). Utilizing the newest version of
CheckFree Web(SM), Sovereign's electronic billing and payment
service offers consumers numerous convenient features to manage
bills and payments. The enhancements are the result of extensive
consumer research and usability testing. The new features include a
more simplified single-point bill management center, faster payment
processing, improved integration with online banking, and the
availability of payment posting information. "We wanted our
customers to be among the first to experience the convenience of
the new CheckFree product. The many enhancements, including
improved ease-of-use and quicker payments, will help them maximize
control of their finances and minimize the time they spend paying
bills," said Marianne Doran-Collins, senior vice president,
Sovereign Bank. "Our organizations share a commitment to quality,
and this service is backed by security and privacy protections, as
well as a guarantee to protect against liability for fraud. And the
best news is that it is free for all customers." A recent survey by
The Marketing Workshop, Inc. and Harris Interactive, sponsored by
CheckFree, concluded that the most satisfied banking customers are
those who use a "consolidated" electronic billing and payment
service, meaning that they pay all of their bills at one site.
Consolidated site users, when compared with those who pay one bill
at a time at a biller's site, often called "biller direct," report
being better able to manage and organize their finances, appreciate
reminders that help them protect their credit scores by paying on
time, and report that the consolidated site saves them time and
hassle. With the new service, the bank's customers will experience
a bill product that is: Free. Sovereign Bank has waived its fee for
electronic billing and payment services. Fast. Improved
functionality lets customers schedule multiple payments in a
fraction of the time it takes now. Some payments can be processed
same-day or next-day, and all payments within three or four
business days, meaning payments no longer need to be scheduled five
or more business days in advance. CheckFree's relationships with
thousands of billers and merchants, and its bill calendar
technology included in CheckFree Web, enable bill payments to be
scheduled and credited faster than ever before. Easy. The new
BillPay service is simpler to navigate and use. Access to all
critical BillPay information is consolidated onto one page, and the
service provides the ability to receive bills electronically, so
there are fewer paper bills to track. Guaranteed. The Sovereign
BillPay Guarantee, backed by the CheckFree Guarantee, assures the
timely, safe arrival of payments. "Electronic billing and payment
leads to more satisfied customers who have longer relationships
with their banks. Offering CheckFree Web 4.0 benefits the banking
institution, the billers and their mutual customers . everyone
wins," said Matt Lewis, Executive Vice President of Client
Development, CheckFree Services Corporation. "With CheckFree's new
platform, Sovereign Bank is providing its customers with a wealth
of new features that make it easier than ever to pay bills online
and maximize control of personal finances." About Sovereign
Sovereign Bancorp, Inc. ("Sovereign") (NYSE:SOV), is the parent
company of Sovereign Bank, pro forma a $60 billion financial
institution with more than 650 community banking offices, over
1,000 ATMs and approximately 9,500 team members in Connecticut,
Maryland, Massachusetts, New Hampshire, New Jersey, New York,
Pennsylvania and Rhode Island. In addition to full-service retail
banking, Sovereign offers a broad array of financial services and
products including business and corporate banking, cash management,
capital markets, trust and wealth management and insurance. Pro
forma for pending acquisitions, Sovereign is the 18th largest
banking institution in the United States. For more information on
Sovereign Bank, visit http://www.sovereignbank.com/ or call
1-877-SOV-BANK. DATASOURCE: Sovereign Bank CONTACT: Ellen Molle,
Sovereign Bank, +1-617-757-5573, Cell: +1-617-548-9932, ; or Judy
DeRango Wicks, CheckFree Services Corporation, +1-678-375-1595, Web
site: http://www.sovereignbank.com/
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