Perceived lack of benefits and high cost stalling market growth for financial institutions and technology vendors
NEWTON, Mass., Oct. 22, 2001 — Despite towering expectations and a range of vendors to provide functionality, little progress has been made in terms of market demand for electronic bill presentment and payment (EBPP), says a new report from Meridien Research.
Consumers are not willing to pay for the ability to receive and pay bills online and many corporate banking officers wrongly see EBPP as a threat to their existing lockbox businesses.
“For the last several years, the hype has been that EBPP was going to be the ‘killer application’ for financial institutions to expand their relationship with clients,” said Jeanne Capachin, Senior Analyst at Meridien Research.
“Unfortunately, despite repeated efforts to convince them otherwise, consumers have failed to embrace EBPP and thus far, have refused to pay the $5-10 per month that most institutions charge for this service. In addition, on the corporate banking side, many banks have significant investment in lockbox operations which they are trying to protect. They perceive EBPP has a threat to that investment.”
“Electronic Bill Presentment and Payment: Money Talks and the Postman Walks” is an in-depth look at the marketplace and history of EPBB, various delivery models and the vendors that serve the market. In addition, barriers to increased demand and the role of financial institutions are also examined in the report. An abstract is available at www.meridien-research.com.
Copies of the report can be purchased by calling (617) 796-2800 or via email to email@example.com.
About Meridien Research
Meridien Research of Newton, MA, provides analytical research services to users and providers of financial industry technology. Meridien Research targets three technology areas of strategic importance to financial services firms: eFinancial Services, Trading & Risk Management and Customer Relationship Management. Each practice delivers reports detailing new issues and challenges and uses its knowledge to advise clients in technology related decisions.
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