Bottomline Technologies was founded in 1989, when business-to-business payments were primarily via paper cheque. Now, the company provides business transactions solutions to more than 10,000 corporations, financial institutions and banks, including 15 of the top 25 global banks.
The company’s services include cyber fraud and risk management, digital banking solutions, financial document automation and financial messaging, legal spend management, and of course, payments and cash management. Nigel Savory, Managing Director for Europe, EMEA & Global Business Solutions, says that although the payment market has changed rapidly over the years, the company has grown and its innovations have kept pace.
“Today we are global organisation. We conduct business across 93 countries. So we’ve gone from humble beginnings, making cheques et cetera and grown into quite a big organisation and a global company providing whole range of different payment solutions.”
Innovating since the very beginning
Bottomline Technologies developed an expert reputation in cheque processing and fraud protection. It then helped organisations make the transition from paper to electronic payments by developing a highly secure, combined cheque and EFT (Electronic Funds Transfer) platform. Today, as the payment sector changes rapidly, Nigel says: “Innovation is massively important in Bottomline”. The company is focused on bringing the business-to-business payment market to the same level of capability and convenience as the consumer market, in which transactions are faster and more secure.
He also says fraud protection is still a major concern for the company’s clients, so Bottomline continues to work on new technologies in this area.
“We’ve created some really smart payment fraud technology to help organisations detect and prevent fraud rather just reporting it after the event. We believe our real time monitoring is much more effective than what most organisations are offering, so fraud protection is a huge area for us and very important for us moving forwards.”
Innovation at Bottomline Technologies is driven by talented people who can bring new ideas to the table. The company also works closely with customers to ensure that their needs are met and that the new technologies created will be beneficial.
The company has an internal training program for all staff called C1, which stands for ‘customer first’. Employees are trained to think from a customer perspective about what the customer will be expecting and what problems they might have. Nigel says that everything the company does is designed to go the extra mile for the customer.
“We always talk about how we delighted our clients. That really goes to the core of who we are and what our business is all about.”