The Corillian Payments Solution

Online billpay users are one of the fastest growing segments of online banking. Flexibility, convenience, reliability and ease of use are key attributes that online bill payers are looking for from their online bill payment experience. Financial Institutions need to capitalize on the strategic importance of the bill payment relationship with consumers and differentiate their offering while controlling costs.

The Corillian Payments Solution is a robust product suite that enables financial institutions to lower processing costs, enhance the user experience, grow fee revenue, improve customer service and expand marketing efforts.

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Market-Leading User Interface
The Corillian Payments Solution provides consumers with an easy-to-use, streamlined experience for managing their payees, payments, and transfers that is tightly integrated with their online banking experience. Financial institutions can also leverage third-party applications or create their own user interface if desired.

Robust Customer Support Tools
The Corillian Payments Solution empowers customer service representatives, both in the call center and in the branch, with Corillian Relationship Manager and Corillian Report Manager. Authorized CSRs can experience the same view as the member eliminating communication gaps and ensuring high quality service.

Synchronization with Quicken and Money
Integration with OFX allows consumers to make payments and download transactions using popular desktop application such as Quicken and Money and to see that information instantly synchronized with the user’s online experience. With the Corillian Payments Solution, the financial institution saves money by not having to pay processing costs twice for the same user (one for browser, one for OFX).

Intelligent Payments Warehouses
The Corillian Payment Warehouse manages payee, payor, and payment data, communicates with the financial institution’s host system, and interfaces with industry leading payment providers, including MasterCard RPPS, ORCC/Princeton, Metavante, and CheckFree. In addition, the warehouse allows a financial institution to internally process OnUs (the financial institution’s products), On-We (the financial institution’s corporate customers), DirectSend (directly send payments to 3rd party billers without external processor involvement), and Paper check printing facilities. Corillian has two Payments Warehouse solutions which work seamlessly with the entire line of Corillian applications:

• The Corillian Payments Warehouse (Interpose) is based on the CICS (mainframe) platform.
• The Corillian Payments Warehouse (Voyager) is based on the Microsoft .NET (server) platform.

Least-Cost Routing
The Corillian Least-Cost Routing bundle provides financial institutions with all the tools necessary to optimize processing costs and speed of payment by routing payments to a combination of processing endpoints. These products include:

• The Corillian Directory Management Toolkit (DMTK) – Optimizes the tasks necessary for managing the continuous changes in merchant routing data.
• The Corillian Payments Decisioning Engine – Ensures that each payment is sent to the correct payee and that the payment is routed through the optimal processor based on rules specified by the FI.
• Corillian Payment Analytics – Powerful tool for assisting Marketing Analysts to unlock the rich consumer spending data of the financial institution’s online billpay customers to identify up-sell opportunities. Also helps Directory Administrators to identify opportunities to lower costs by increasing electronic remittance percentages.
• Corillian Directory Management Service – Cost-effective subscription-based service for FIs that want to achieve the benefits of Least-Cost Routing without investing in the people and processes involved with managing their own merchant directory.

Flexible Deployment Options
Corillian is committed to providing billpay solutions that match the needs of each financial institution. Corillian has solutions for customers that want to deploy Least-Cost Routing for maximum control and cost savings, for customers that want to deploy a Single-Processor Warehouse for low costs without the investment in managing a merchant directory, and for customers that want to outsource their billpay processes and user experience to a partner such as CheckFree or Metavante. The Corillian Payments Solution can support an FI in whatever deployment option it chooses and can allow the FI to adapt as its online bill pay population grows.