IBill is the least of Intercept's problems.
Banking services are under intense price pressure, and this is the market these guys compete in. For instance one of their services is providing online images of cancelled checks for banks who aren't big enough to provide such a service inhouse. Their "niche" is the small community bank...which kind of puts them on the opposite end of the 90/10 rule.
I've seen their operation here in Atlanta. Architecturally it is a fucking mess. There's no way they can compete with the big fish in terms of pricing of the services they provide. And with the architecture they're running, their SLAs have to be shit.
It would take a major investment of time resources and money to bring them up to state of the art so they can really be competitive in their core industry.
I think they know that and saw IBill as perhaps a chance to diversify....I think all they did was diversify their pain.
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