Payments Innovator, Noventis, Reports Notable Growth
Second consecutive year of record growth, combined with dramatic increases in transactions and size of electronic network result of strategic shift to processor-centric business model
HOUSTON, Feb. 7, 2017 /PRNewswire/ -- Noventis, Inc., (Noventis), a leader in payment processing, today announced a cycle of record expansion since changing its strategic direction a few years ago. A longtime leader in the cash-based consumer bill pay market, Noventis has refocused the company towards its burgeoning processor business, offering low-cost, streamlined bill payment delivery. This pivot has delivered significant, positive financial results, culminating in a record 2016.
Highlights released today include:
- Record EBITDA and earnings growth for 2016, building off of a similar record year in 2015.
- 4th consecutive year of processor payment transaction growth.
- 53% cumulative 4 year average growth rate (CAGR) in revenue from processor payments.
- Expanded Noventis biller network to over 100,000 electronic billers/vendors (or endpoints) with expectations to more than double again in 2017.
"The results we saw in 2016 and recent past years are a testament to the decision we made to leverage our expertise and technology to develop a new company model predicated on solving inefficiencies plaguing the bill payments ecosystem," said Steve Taylor, Noventis CEO. "Thanks to an industry-best payment platform, years of industry experience and a culture of innovation in advancing payments, we believe Noventis is well positioned to outperform expectations again in 2017."
These achievements are supported by Noventis' ability to add value by continuously delivering critical innovations to solve market demand for both front-end payers and endpoints. Noventis' proprietary platform dynamically routes payments to a vast and ever growing electronic network of endpoints. Dedicated to eliminating paper, accelerating posting and enhancing security, Noventis is bringing payment modernization without the need for integration on either party's systems. The Noventis platform is protected by five U.S. patents and several additional patents pending.
With its recent adoption of corporate payments, which historically have been slow to innovate, Noventis is transforming into a Fintech leader in the space. By leveraging the advances it brought to consumer bill payment, the company is helping solve a longstanding challenge for the entire payments ecosystem, which remains burdened with the high costs of inefficient paper checks.
Taylor added, "With our commitment to industry collaboration and unparalleled drive to provide the best solutions, Noventis will continue to pursue new opportunities to grow the company by enhancing our payment processing platform, extending our endpoint reach and solving other long-standing bill pay challenges."
About Noventis
Noventis is the company over 4,000 financial institutions, processors and aggregators trust to deliver electronic payments between the broadest base of businesses and consumers. Since 1998, Noventis has been providing its partners with innovative solutions to longstanding bill payment challenges. Noventis' proprietary processing platform dynamically routes payments to a vast and ever growing network of billers. The patented platform replaces cumbersome transactions, such as paper checks, with a wide array of electronic payment methods, greatly accelerating delivery speed and dramatically lowering costs for payments to billers and vendors. For more information, visit www.NoventisPayments.com, www.linkedin.com/company/noventis-inc. and @Noventis_Inc.
SOURCE Noventis, Inc.
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