BELLEVUE WA, June 13 /PRNewswire-FirstCall/ -- Bankteller Ltd., a wholly- owned subsidiary of B-Teller Inc., is a leading edge epayment and integration technology company who delivers a Standardized Solution for Corporate epayment transactions. Bankteller uses an Application Service Provider (ASP) model to deliver these standards in a quick and efficient manner. Using the latest in security and technology, Bankteller is working to efficiently revolutionize the model for companies to process transactions between a company, their suppliers and vendors, and their banking institutions.
TWIST, the not-for-profit industry group delivering standards in financial processes to corporates, announced today that it will pilot its corporate payment strategies standards with its own suppliers utilizing Bankteller as its delivery partner.
The pilot will deliver a blueprint for corporates and their suppliers to implement an innovative solution which benefits both corporates and suppliers, using Bankteller's integrated information and finance Hub (IIF Hub) as the delivery platform. It is a TWIST-based solution and was launched as a result of the successful standardization brought to the corporate payments marketplace by TWIST.
Armando Russo, President of B-Teller, Inc. said, "Bankteller Ltd. recognized very early the potential of TWIST to standardize communication across multiple enterprises in the value chain. TWIST's technology-neutral, open standards approach makes it the ideal partner to appeal to a wide constituency of potential participants in a WCF Hub scheme. Building on the success of an existing SWIFT Service Bureau - already live with multiple customers - Bankteller has added further components to create a TWIST-enabled WCF Hub."
About TWIST Process Innovations Ltd.:
TWIST Process Innovations Ltd. (http://www.twiststandards.org/) creates global standards that enable the end-to-end automation of any company's financial business processes. TWIST develops practical standards that allow market participants to communicate electronically with each other, whether using direct links, external service providers or internal systems.
Led by the treasury operations department of Shell, TWIST brings together representatives of leading corporate treasuries, banks, fund managers, system suppliers, electronic trading platforms, market infrastructure providers (including confirmation matching services, clearing & settlement services and communication networks), consultancy firms and learning organizations. TWIST is open to market participants and service providers, irrespective of their size or role in the market place.
TWIST has numerous sponsors, members and participants. Sponsors include the following organizations: Shell, Hewlett Packard, General Electric, Cable & Wireless, JP Morgan Chase, Citibank, ABN Amro, Standard Chartered, Voca, Interpay, Montran and Gresham.
About Bankteller Ltd.:
Bankteller Ltd. is a managed electronic payments transfer service that facilitates payments and transfers of funds between counter-parties in Europe. Using a combination of secure payment networks, Bankteller has the capability to 'least-cost-route' across multiple payment networks to the benefit of its customers. Bankteller's launch coincides with the rapid increase in financial technology rationalization and outsourcing in Europe, underpinned by the European Union's implementation of the Single European Payments Area, 'SEPA'. Bankteller aims to capitalize on the ramifications of SEPA and the heavily forecast consolidation of Europe's 15 Automated Clearing Houses (ACHs), in what has been called the world's largest ever shake-up of cross-border payments market infrastructure.
This press release contains "forward-looking" statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 as amended, and is subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors discussed in B-Teller, Inc. reports that will be on file with the US Securities and Exchange Commission.
http://www.bankteller.co.uk/
