PORTSMOUTH, N.H.--()--Bottomline Technologies (NASDAQ: EPAY), The Royal Bank of Scotland N.V. (RBS) and RBS Citizens, N.A. have formed a new partnership in the payments space, Bottomline announced today. With this agreement, RBS and RBS Citizens select Bottomline’s Paymode-X® settlement network as a technology solution to expand the banks’ treasury management offerings both domestically and around the globe. Paymode-X enables financial institutions to offer comprehensive payables solutions for their corporate customers to convert their paper-based payments to electronic payments quickly and easily.
“We believe that Paymode-X is the future of business payments and that strategic partnerships such as this one will help us continue to revolutionize and lead the payables market.”
RBS is a leading bank partner to major corporations, financial institutions, government and public sector clients around the world. RBS Transaction Services delivers international and domestic banking services that clients need to transact efficiently with their customers, suppliers, and counterparties – helping clients make and receive payments and control cash flow. This support allows organizations to accelerate their supply chains, manage operating and regulatory risk, and best utilize their working capital.
RBS Citizens, N.A. is a subsidiary of RBS Citizens Financial Group, Inc., a $128-billion commercial bank holding company. As part of RBS Citizens Financial Group in the U.S., the RBS Citizens Treasury Solutions organization provides transaction banking services including cash management, commercial card, and trade finance services to most major industry segments as well as professional services firms to meet their corporate treasury needs.
Paymode-X is a settlement network with more than 200,000 global members exchanging electronic payments, remittance advices and invoices. With Paymode-X, payers can accelerate the conversion of paper to electronic payables and optimize working capital. Vendors enjoy faster access to cash and a streamlined receivables process.
“We are delighted to be a solution partner to RBS and RBS Citizens,” said Rob Eberle, Bottomline’s President and CEO. “We believe that Paymode-X is the future of business payments and that strategic partnerships such as this one will help us continue to revolutionize and lead the payables market.”
About Bottomline Technologies
Bottomline Technologies provides cloud-based payment, invoice and banking solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. Organizations trust Bottomline to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.
About RBS Citizens Financial Group, Inc.
RBS Citizens Financial Group, Inc. (RBSCFG) is a $128 billion commercial bank holding company. It is headquartered in Providence, R.I., and through its subsidiaries has more than 1,400 branches, approximately 3,600 ATMs and more than 19,000 colleagues. Its two bank subsidiaries are RBS Citizens, N.A., and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont; and the Charter One brand in Illinois, Michigan and Ohio. RBSCFG has non-branch retail and commercial offices in more than 30 states. RBSCFG is owned by RBS Group (The Royal Bank of Scotland Group plc). RBSCFG’s website is citizensbank.com.
About The Royal Bank of Scotland Group plc (RBS Group)
The RBS Group is a large international banking and financial services group of companies. Headquartered in Edinburgh, the Group operates in the United Kingdom, Europe, the Middle East, the Americas and Asia, serving over 30 million customers worldwide. The Group provides a wide range of products and services to personal, commercial and large corporate and institutional customers through its principal subsidiaries, The Royal Bank of Scotland plc, The Royal Bank of Scotland N.V. and National Westminster Bank plc, as well as through a number of other well-known brands including Citizens, Charter One, Ulster Bank, Coutts, Direct Line.
Bottomline Technologies, Paymode-X and the Bottomline Technologies logo are trademarks of Bottomline Technologies (de), Inc. which may be registered in certain jurisdictions. All other brand/product names may be trademarks of their respective owners.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from our expectations as a result of various important factors, including but not limited to competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of these and other factors that could impact our operational and financial results, refer to our filings with the Securities and Exchange Commission, including our Form 10-K for the fiscal year ended June 30, 2012 and subsequent filings. Any forward-looking statements represent our views only as of today and we do not assume any obligation to update such statements.