Head Office: 325 Corporate Drive, Portsmouth, NH 03801, US Tel: +1 603 436 0700 Email:
info@bottomline.com Other Offices: US, UK, Canada, France, Germany, Netherlands, Saudi Arabia, Singapore, Switzerland Website:
www.bottomline.com Twitter: @bottomlinetech Contact: Marcus Hughes, director of global marketing Email:
mhughes@bottomline.com Founded: 1989 Ownership: Listed on Nasdaq: EPAY Number of staff: Over 600 worldwide, with over 500 involved in payments Number of clients: Over 10,000 Principal partners: Include Oracle, IBM, Microsoft, Accenture, SAP Services partners: Getronics, Consort NT Payments products: Transaction Banking, Cash Management and Swift Connectivity, GTFrame, GTExchange, GTMatch Categories: Cash management, transaction banking, Swift bureau, messaging, matching
2010 2011 2013
October – Acquires Swift service bureau, SMA. February – Buys UK-based Direct Debit Ltd.
August – Adds Geneva-based Sterci and its UK subsidiary, Simplex.
2014 March – Buys a US-based customer acquisition solutions company, Andera, for $44.5 million in cash and 102,000 shares of Bottomline stock.
Product suite
WebSeries Global Cash Management is often ‘white-labelled’ as the basis for offering treasury services to a bank’s clients. There is
in WebSeries the ability to consolidate across
international payments transactions: WebSeries International Payments provides real-time rate quotes that consolidate multiple payments into one trade. The fact that WebSeries is Swift-enabled means large multi-
branch organisations can consolidate disparate payment systems through the product into a single Swift connection. There is also the ability to automate the settlement of trades, for corporates directly and for banks to offer as a service to their clients. Bottomline has sought to move from predominantly US payment models to offering a global cash management solution which, it claims, provides clients with a worldwide payments capability. ‘Bottomline can make any type of payment, anywhere in the world, and take account of specific local requirements where necessary,’ said Suzanne Hurt, Bottomline’s vice president for banking and financial services. One example of the latter is the ability of WebSeries to handle the need to enforce Panel Approval in the case of, for example, RTGS payments above a specific value, and deploy the specific approval routings. The change in geographical focus has required Bottomline to invest in international development. WebSeries is now fully multi-lingual and supports multi-byte characters, as required by markets such as South Korea, China and Japan, while
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payments clearing capability has been incorporated for over 100 countries. WebSeries was originally written in C++. The latest version has been moved to J2EE. This migration has also allowed Bottomline to create a more standardised product, requiring less customisation and having improved integration capabilities. About 80 to 85 per cent of functionality required by most banks and financial institutions is now apparently available out of the box. The company also claims – like most others – support for Service Oriented Architecture (SOA), giving banks greater flexibility to use payment and reporting functionality in other areas of their business. In terms of technology, WebSeries supports MS SQL database with an Internet Explorer user interface. An interface to Bacs is provided. WebSeries carries out the validation, workflow and
reporting. Validation is done early in the cycle (clearing house rules are built into the system). Formatting is also carried out by WebSeries and then the transaction is handed off to the back office system. There are also interfaces to ERP systems. In effect, Bottomline’s solution is a separate hub to load, validate and extract data. It has a separate, user facing application layer. The separation of these layers aids the performance: the hub is a separate tier, multi-threaded so that it is meant to accommodate many users working with small files, or few users with large files. Bottomline is keen on the payments hub concept. ‘We’ve never cared specifically what the transaction is,’ said Hurt. For example, for SEPA, she suggested that while some vendors have had to code new payment behaviour based on payment type, for Bottomline ‘it
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