Isabel opens doors with new banking portal
“Logica helped to speed up the process of taking Zoomit from a concept to a commercial reality.” Philippe Dermine Chief Technology Officer, Isabel
About Isabel
Many financial institutions in Europe use Isabel’s online banking and invoicing solutions. Founded in Belgium in 1995, Isabel’s first project was developing an eBanking platform that the country’s large corporations could use as an online interface with their banks. The platform was a success, attracting 100,000 corporate users and 26 banks (about 98 per cent of the sector).
What Isabel needed
Isabel’s management team started looking for new markets that would keep growing the business. They saw electronic document delivery as an area with potential.
About 90 per cent of consumers in Belgium paid for services such as domestic utilities by credit transfer, using online banking systems. But it wasn’t a straightforward process. People had to type in all the information by hand, even though suppliers had already put those details into their own computer systems to create the invoices.
The challenge
The trouble with electronic bill presentment and payment (EBPP) solutions was their lack of integration. Users had to log in to a separate EBPP website for each of their suppliers. And none of the EBPP systems were linked to an online payment facility. People had to re-enter the same details – card numbers and expiry dates, bank account codes – every time they made a payment.
Isabel came up with a concept for a new solution. Called Zoomit, it brings together a range of documents in a participating bank’s online banking application, where customers can easily look at
them.
Our answer
Isabel chose Logica as a partner because of our technical ability and track record in this field. We also showed insight into their position and ambitions in the market.
“Logica were quick to understand what we wanted and to suggest how they could give us what we wanted,”Philippe Dubois explains. “Our mutual understanding was a key success factor in this project.”
First we carried out a proof of concept for Zoomit. Then we developed, tested and set up the solution using the J2EE (Java 2 Platform, Enterprise Edition) architecture and an Oracle database.
Zoomit transforms online banking systems into integrated financial portals where people can:
- Look at their payslips
- Pay invoices from suppliers such as utility companies
- See their transactions history with all the relevant documents.
A success story
Take-up in the first two years was rapid:
- Ten of Belgium’s largest banks are connected to Zoomit and several other banks are working on
links to the system
- Out of four million private customers using Internet banking nationwide, 3.5 million have access to
Zoomit
- The nine largest social secretariaten in Belgium deliver their pay slips on Zoomit
- The major consumer services and utility providers use Zoomit for electronic invoicing.
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