Derivion

About Derivion

Derivion Corporation operated as a software-as-a-service (SaaS) provider specializing in electronic billing solutions. The company was co-founded in 1998 by Dushyant Sharma. Based in Atlanta, Georgia, Derivion also maintained operations in Toronto, Canada, and London, catering to a North American and European client base.

The firm's core business involved providing electronic bill presentment and payment (EBPP) services. This allowed businesses to deliver bills electronically to their customers, who could then make payments online. The company served a diverse range of clients across various sectors, including financial services, insurance, utilities, and telecommunications. Notable clients included Zurich North America, GE Capital Auto Financial Services, Florida Power, Baltimore Gas and Electric, and Farmers Insurance Group. By 2001, Derivion had secured contracts to process 275 million bills annually and had enrolled 76,000 end-users.

In May 2001, Derivion was acquired by Metavante Corporation, a provider of banking and payment technologies. The acquisition was a strategic move for Metavante to significantly enhance its electronic presentment and payment service offerings, expanding its solutions for business-to-consumer, business-to-business, and small business markets. The deal brought over 85 biller relationships to Metavante, positioning the combined entity as a more formidable competitor in the EBPP space against companies like Checkfree Corp. and Princeton Ecom.