NEW E-INVOICING SERVICE ZOOMIT, DEVELOPED BY ISABEL AND LOGICACMG, HELPS BANKS TO ADD VALUE TO THEIR SEPA PAYMENTS

11 October 2006

LogicaCMG, one of Europe’s leading IT services companies, and Isabel, a leading European banking technology specialist, announced today that they have joined forces to provide ZOOMIT, an internet banking e-invoice and document gateway service. ZOOMIT is a unique service designed, developed and tested by Isabel and LogicaCMG. The service will improve and streamline e-banking capabilities for consumers, and corporates, consolidating all financial information - including invoices, payments, contracts and payslips into a single, secure, easily accessible online banking service. ZOOMIT is Single Euro Payments Area (SEPA) and SWIFT enabled and will allow banks to add value to their SEPA payments businesses.

With a secure gateway, ZOOMIT enables users to access all financial information pertaining to individual transactions, regardless of where the information is held, negating the need to log in to individual websites of invoice senders to view invoices, payments, contracts, payslips etc. ZOOMIT optimises the financial flows of both customers and invoice senders by linking payments with the underlying invoices and other documents.

Martin Dieussaert, managing director financial services at LogicaCMG in Belgium, comments: “This unique SEPA and SWIFT enabled service opens up major opportunities for financial institutions to offer new services to their customers worldwide. ZOOMIT will create a major evolution for this increasingly popular method of dealing with payments and financial information in a secure, efficient and cost-effective manner.”

Already in pilot by two Belgian banks, Dexia and KBC, ZOOMIT benefits banks and their customers, both corporate and consumer.

Rudi Peeters, marketing director at KBC, comments: “With more and more of our customers using e-banking as their preferred method of dealing with their finances, expanding the capabilities of our eServices with ZOOMIT is really adding value which results in cost and efficiency savings for us as well as for all of our e-banking customers, consumers and corporates. The introduction of ZOOMIT has given us the opportunity to reassess our existing e-banking services, allowing us to evolve our payment services offering improved comfort and service whilst complying with SEPA standards.”

For corporate customers ZOOMIT reduces the cost of paper processing and improves the accounts payable management process, fully integrating with existing Enterprise Resource Planning and accounting solutions. It increases access to banks’ own e-services and allows further interaction with the customer over the internet. For the consumer, the main benefit is the provision of a financial portal which delivers more transparency, more control and is more convenient.

As ZOOMIT is SEPA and SWIFT enabled, the service is ready for the new era of European payments, where with the prospect of reduced revenues attributable to payments post SEPA, banks will have to introduce new products and services to seek new ways of generating revenue.

Philippe Dubois, CEO of Isabel, comments: “ZOOMIT integrates smoothly into any existing e-banking systems and enables banks to improve the financial efficiency of their customers. Isabel is a specialist in developing systems for corporate banking and we recognised the need for a payments and documents gateway like ZOOMIT to add value to our existing solutions, particularly in light of the new SEPA standards. We have a long history of collaboration with LogicaCMG so we chose to work alongside LogicaCMG to design, develop and test ZOOMIT to ensure we offer banks the optimum solution possible.”

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