Webster Bank, Standard Register Sign Multi-Year Customer Communications Services Deal
DAYTON, OH—February 11, 2015—Standard Register (NYSE: SR), a leading provider of workflow, content and analytics, announced today the signing of a multi-million dollar agreement with Webster Bank. Under the agreement, Standard Register renewed its contract through 2018 to provide enterprise print management and promotional marketing programs and expanded the relationship to include electronic bill presentment and payment (EBPP) services.
The EBPP solution, provided in partnership with Transactis, allows Webster Bank to offer its business, government and commercial banking clients a highly-customizable, feature-rich solution that enables the secure distribution of electronic bills and invoices and accepts payments via the Web, voice, phone and mobile. The EBPP platform will enhance Webster's Payment-Link product and meet the diverse and challenging billing and payment needs of businesses in all industries. The solution can support a variety of Website integration methods and enables the bank's clients to offer a low cost online bill pay solution to their customers while facilitating payments through credit cards, debit cards and the Automated Clearing House (ACH) network.
"By providing a complete, configurable solution, we're enabling our business, government and commercial banking clients to offer their customers a robust payment platform without a lengthy implementation timeline," remarked Phil Picillo, senior vice president and director of treasury and payment solutions for Webster Bank. "In this way, Standard Register and Transactis are helping our customers compete in their chosen markets. It's just one of the innovative ways that Webster Bank is bringing new value to its clients."
Since 2008, Standard Register has managed a full range of technology-enabled communications for the personal, business and commercial/institutional banking groups at Webster Bank, including traditional document management, statements, customer notices, point-of-sale material and promotional marketing. The new EBPP solution will be introduced in the first quarter of 2015.
"Transactis is the ideal partner for us because they share our commitment to delivering a highly configurable, total solution," commented Courtney Allen, senior vice president and general manager of marketing for Standard Register's Integrated Communications business unit. "They surround industry-leading software with robust customer service, implementation and support to help banks take their solution out to the market."
"We are proud to join forces with Standard Register, a trusted partner of Webster Bank, to improve and simplify the accounts receivable process for their customers," stated Bil Manes, chief strategy officer at Transactis. "Through our partnership, Standard Register is enabling a new capability that will allow Webster Bank to expand its commercial banking relationships while consolidating its supplier base."
About Standard Register
Standard Register (NYSE:SR) is trusted by the world's leading companies to advance their reputations and add value to their operations by aligning communications with corporate brand standards. Providing market-specific insights and a compelling portfolio of workflow, content and analytics solutions to address the changing business landscape in healthcare, financial services, manufacturing, transportation and retail markets, Standard Register is the recognized leader in the management and execution of mission-critical communications.
About Webster Bank
Webster Financial Corporation is the holding company for Webster Bank. With $22 billion in assets, Webster provides business and consumer banking, mortgages, private banking, trust and investment services through 165 banking offices; 311 ATMs; telephone banking; mobile banking; and the Internet. Webster Bank owns the asset based lending firm Webster Business Credit; the equipment finance firm Webster Capital Finance; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender.
Transactis transforms traditional paper billing and payment processing by enabling businesses of all sizes to replace paper bills, statements, invoices, payments and documents with efficient and cost effective digital alternatives. Transactis goes to market exclusively with resellers (financial institutions, technology companies, print and business process outsourcers) to provide their business customers with secure, configurable, white-label, industry-leading SaaS solutions. More than a technology provider to resellers—Transactis is a full service business partner, delivering a broad and deep suite of unmatched sales, marketing, technical and operational support, empowering our resellers to more successfully serve their clients. The Transactis team includes executives, board members and advisors who are seasoned industry experts with decades of experience in the billing and payments industry. Transactis meets the strictest regulatory and compliance requirements including HIPAA, SSAE 16, PCI Level 1 and SOC 2. Transactis investors include Metamorphic Ventures, ff Venture Capital, StarVest Partners, Harland Clarke and Safeguard Scientifics (NYSE:SFE).
Source: Standard Register.