Source: Digital Insight
Digital Insight Corp. (NASDAQ:DGIN), the leading online banking provider, announced today renewed and expanded agreements with Government Employees Credit Union of El Paso, Texas (GECU) and TruWest Credit Union of Tempe, Ariz.
The multi-year agreements will continue services to approximately 65,000 active consumer Internet Banking users and nearly 18,000 Bill Payment users through 2011. Digital Insight and its on-demand service model continue to provide financial institutions with the tools to arm superior service and drive growth through the online channel.
Working with the Digital Insight on-demand service model enables its clients to concentrate on their core competencies by eliminating the constraints of managing an in-house solution. In addition, the company's ability to seamlessly integrate with technology partners to offer a robust suite of consumer online products and services from within its "Deep Defense" secure environment is an important strategic business advantage for credit union clients.
"Working with Digital Insight enables us to focus our people on better serving our members and building relationships instead of managing an in-house solution," said GECU Senior Vice President of Operations Crystal Long. "We are able to cost-effectively and efficiently offer best of breed products and services in a secure, stable online banking environment and return that value to our members."
GECU will continue to provide its "SmartBranch" online banking offering through Digital Insight to more than 39,000 active end users and 10,000 Bill Payment users. Under terms of the renewed agreement, GECU will work with Digital Insight to redesign the credit union's Web site to improve its usability and enhance the online offering to include Check Imaging, Online Statements and Web Center, a Web site management platform that gives non-technical staff at financial institutions real-time control over their organization's Web presence. In addition, the credit union will partner with Digital Insight to provide secure online member service with Secure Support, Secure Chat, and Co-Browse.
TruWest Credit Union will continue to provide its "Home Banking" online offering through Digital Insight to more than 25,000 active end users and more than 7,000 Bill Payment users. TruWest members currently have access to a variety of Digital Insight products and services, including Check Imaging, Online Statements, TurboTax Online and Web Connect, a feature that enables Quicken and Microsoft Money users to seamlessly interact with their personal financial management software. Under terms of the renewed and expanded agreement, the credit union will enhance its online member offering to take advantage of marketing and cross-sales tools Promotion Manager and Survey Manager.
Both of these client credit unions participate in Digital Insight's proprietary Growth and Retention Program, a set of best practice marketing and sales tools, creative materials and training programs that effectively encourage customers to utilize more online products and services. This program has proven successful in helping hundreds of financial institutions drive adoption and growth of the online channel.
TruWest Credit Union began working with the program in May 2003 and has increased member adoption of Internet Banking 19% and Bill Payment services more than 155% during that period. "In Digital Insight, we have a strategic partner that continues to help us deliver superior member service and provides us the tools and insight to execute strategic growth as an institution," added TruWest Credit Union COO Gary Bernard.
GECU reports a similar positive experience with Digital Insight's Growth and Retention Program. As a contracted participant in the program since December 2002, member adoption of its Internet Banking offering during this period has increased 94%. Since the credit union's launch of online Bill Payment in January of 2005, Bill Payment adoption has also increased more than 265%. One recent campaign involved an automated email system prompt to encourage newly enrolled Bill Payment users to start using the service. This practice yielded an 18% increase in GECU users paying bills within 30 days of enrollment.
"These renewed and expanded agreements demonstrate the strength of Digital Insight's on-demand services in helping financial institutions derive growth from the online channel," said Digital Insight Chairman, President and CEO Jeff Stiefler. "We are pleased to continue building relationships with both of these leading credit unions as we arm them with an advanced array of products and capabilities to serve their members."