World-leading financial services company selects Intec as Billing Transformer Partner in Multi-Million Dollar Deal

London/Atlanta - August 2008: Intec, a global provider of business and operations support systems (BSS/OSS), announced that it has signed a strategically important eight-figure contract, with one of the world’s premier financial services companies. While the full financial terms are not disclosed, the multi-million dollar agreement covers the supply and implementation of Intec’s Convergent Billing, Customer Management and Mediation solutions. Key criteria cited in the award to Intec included the company’s highly configurable billing technology, its ability to deliver on complex financial industry billing requirements in a timely fashion, and the total cost of ownership of the solution.

"Intec was selected after a very comprehensive evaluation of the leading billing, pricing and customer care vendors," said Intec President of North America Fred Brott. “Intec’s track record of quality and on-time delivery to large organisations like AT&T, Deutsche Telekom and Verizon, combined with the flexibility of the solution, were key factors in winning this contract.”

The telecommunications industry has a long history of supporting complex pricing models. Telecoms companies charge for a wide range of transaction types and apply fee structures based on multiple factors specific to both the transaction and the customer. The increasing competition in the financial services industry is now driving demand for similar sophisticated pricing and billing solutions.

Intec’s solution will form the core of the customer’s pricing and billing transformation program enabling a lower operational cost. Transaction records from numerous network sources are collected by Intec’s mediation system for correlation, duplicate checking, enrichment and the generation of billing events. These enriched records are then passed to the Intec pricing, billing and customer management system to be priced (on an individual, aggregate, regional and contract-level basis), billed, invoiced and settled.

"This new contract win is proof of the sophistication and power of the Billing and Customer Management technology Intec has developed for the telecom industry,” said Intec CEO Andrew Taylor. “Intec’s technology handles daily transaction volumes in the billions: it supports configurable business logic so that our customers have the flexibility to design unique price plans and it has the power to support the most complex fee structures in real time. This need for high-volume, real-time payment processing is becoming increasingly common across other industries where the quality and accuracy of billing data are critical to customer and partner satisfaction alike.”