In a move that could legitimize electronic bill presentment and payment on a more global scale, Germany's Deutsche Bank announced Monday it has selected iPlanet E-Commerce Solutions as a technology vendor.
iPlanet is the joint venture of Sun Microsystems Inc. and America Online Inc.
Deutsche Bank, of Frankfurt, will implement San Francisco-based iPlanet's BillerXpert business-to-business software as the foundation for its B2B EBPP initiatives.
The iPlanet platform is a significant enhancement to the bank's initial EBPP effort, according to officials. The second-generation EBPP service, to be known as db-Bills, will provide multi-currency and multi-language capabilities to Deutsche Bank, one of the world's largest financial institutions, allowing it to adhere to regional business practices.
The new platform is slated to be launched in the U.S., Europe and Asia in the second half of this year, according to officials.
Deutsche Bank expects db-Bills to provide improved customer service and dispute resolution, reduce costs and create a more efficient collections cycle. The platform is based on open standards and is compatible with both billers and billing service providers, officials said.
With 93,000 employees worldwide, Deutsche Bank offers asset management, corporate finance and private banking to a global customer base.