StreamServe to work together with BGC and WM-data on electronic payment via the Internet

StreamServe to become the de-facto standard for Internet invoicing in Sweden StreamServe to work together with BGC and WM-data on electronic payment via the Internet Swedish software company StreamServe have signed collaboration agreements with both the Bankgirocentralen (BGC) and WM-data to provide software for the electronic invoicing services that banks are currently introducing. This collaboration will result in StreamServe's XML-based products being used to enable the delivery of electronic invoices and payment details directly to Internet accounts at MeritaNordbanken, FöreningsSparbanken, SEB, Handelsbanken, Skandiabanken and Östgötabanken. Sweden has been seeing the release of a series of electronic invoicing services for some time now. In principle, these involve companies and invoice issuers being able to deliver invoices electronically and directly to the recipient's Internet bank. The invoices can then be quickly and easily paid by computer. Invoices will no longer be processed and distributed physically. This will result in many advantages, both in terms of savings in costs and profiling for the invoice issuer. The leading initiatives in today's market are; - The Bankgirocentralen's (BGC) e-giro, in which SEB, Handelsbanken, Skandiabanken and Östgötabanken are partners, and - MeritaNordbanken's and FöreningsSparbanken's collaboration with WM- data, called "e-invoice". A common feature of both initiatives is that StreamServe technology is the basis for communication between the invoice issuer and the bank's clearing house. This communication is built on a standard package consisting of StreamServe's business application connectors and XML technology. FöreningsSparbanken and MeritaNordbanken between them have 70-80 percent of the private banking market in Sweden. BGC's collaboration with SEB, Handelsbanken, Skandiabanken and Östgötabanken, meanwhile, addresses the majority of Sweden's business customers. StreamServe had already been working in this field, in collaboration with Netgiro and Webgiro. The number of Internet banks has increased considerably, and it is expected that two million customers will be connected to an Internet bank by the end of the current year. Through e-invoice agreements, invoice issuers will be able to reach up to a million customers who are connected to one of these Internet banks. Using StreamServe software, payment site customers can considerably shorten the integration time that is needed to enable distribution of their invoices in electronic format. StreamServe offer standard solutions for connection to business applications, irrespective of which bank the customer wishes to use. The invoice issuer retains the option to change the bank at a later stage. The invoice itself will be more informative and can include a number of sophisticated services (links to relevant websites, for example). The invoice recipient will be able to pay it at their Internet bank. In recent times a new market has opened up for StreamServe, where the company provides automated back-office processes and customer communications for the rapidly expanding number of e-commerce and electronic payment sites. At the same time as the electronic formatting, processing and distribution of information and documentation becomes more critical for businesses, the market for StreamServe products among the new e-commerce companies is constantly increasing. These companies demand fast, personalized and cost-effective e-communication between businesses - with freedom of choice in respect of format and time-scale. - E-invoice and e-giro are examples of how one can use StreamServe to take a natural step from traditional paper print-outs to e-commerce using the same technological platform and thus make a huge saving in costs, says Stefan Blomqvist, Managing Director, StreamServe Sweden. About StreamServe: StreamServe is a provider of eCommerce infrastructure software that facilitates flexible business communications. The product suite is designed to manage and automate the flow of critical business information. The software enables StreamServe's customers to communicate with their customers, suppliers and partners in a wide range of formats, across many types of channels and in a customized manner. The StreamServe product suite enables seamless integration with most major business applications and eBusiness platforms. StreamServe's software allows companies to leverage business applications, adding functionality and flexibility and enables communication for participation in eBusiness. StreamServe also provides reliable, integrated and automated software solutions to enable a robust exchange of information in eCommerce companies and Internet portals. StreamServe began operations in Sweden in 1995. During 1998 and 1999, StreamServe expanded its activities to Finland, France, Germany, the Netherlands, Norway, UK and the United States. Strategic alliances with business application vendors, system integrators and other eBusiness providers, enhance StreamServe's market penetration. StreamServe's more than 1500 customers worldwide include business operating in a wide range of industries, as well as operators of Internet portals designed for business-to-business (B2B) and business-to-consumer (B2C) commerce. StreamServe had revenues of $14.7 million in the year ended December 31, 1999. For further information contact: Jakob Svärdström, COO, StreamServe, Inc. Tel: 08 - 686 85 33; 070 - 686 85 33 jakob.svardstrom@streamserve.com www.streamserve.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/07/20000607BIT01160/bit0001.doc http://www.bit.se/bitonline/2000/06/07/20000607BIT01160/bit0002.pdf