PayMode Electronic Payment Solution is Now Compatible with any ERP System

Unique Approach to Integration Generates Fast Results and Requires Little Investment

PORTLAND, Maine — February 20, 2002 — FleetBoston Financial Corporation, provider of the only bank-neutral, electronic payment solution enabling secure, information rich, business-to-business transactions, today announced the immediate compatibility of PayMode®, its electronic payment and remittance processing solution, with any enterprise resource planning (ERP) system or accounting software package. This enables Fleet to quickly and easily deliver the efficiencies and value of electronic payments regardless of a company’s current systems environment, thus enhancing the return on existing technology investments. In addition to being bank-neutral, PayMode is now also ERP system-neutral.

The systems integration methodology leverages basic workflow common to all organizations making or receiving business-to-business payments and utilizes key functionality already resident within most financial systems. In addition, Fleet utilizes proprietary translation and secure file transmission functionality to power its integration solution. No software installation or maintenance is required. The integration of PayMode with its customers’ financial systems—including deployment and user acceptance testing—can be completed in as little as two days. These integrations are accomplished without altering system or software standards, changing payment processing functionalities or disrupting the customer’s operations.

The PayMode electronic payment and remittance processing solution has built, tested, and in many cases implemented the accounts payable/accounts receivable systems integrations on behalf of its customers for most of the common proprietary systems, including Oracle, PeopleSoft, SAP, JD Edwards, Great Plains, GEAC, AMS, Lawson, Peachtree, QuickBooks and others.

Contact: Ann McCormick , 207-771-3769,   ann_f_mccormick@fleet.com