Professional Federal Credit Union rolls out S1's IBS Cash Management

Source: S1 Corporation

S1 Corporation (Nasdaq: SONE), a leading provider of customer interaction software for financial and payment services, today announced that Professional Federal Credit Union has signed a five-year contract for enhanced online Member Business Services delivered through S1 IBS Cash Management.

The product enables the credit union's business members to manage their accounts, including ACH initiation and origination, wire transfers, bill payments, tax payments, and payroll, through an online, real-time interface.

In addition to S1 IBS Cash Management for enhanced member business service solutions, S1 offers multiple solutions to address credit union members' needs for self-service banking including S1 IBS Retail Banking, ATM Driving, and Voice Banking all on a single platform. According to Angela Peterson, the credit union's Vice President, Commercial Services, Professional Federal selected S1 IBS Cash Management after an extensive analysis of market alternatives by its evaluation team.

"To offer competitive services for our business members, we knew we had to go beyond the services available through a conventional consumer Internet banking product. We sought a solution that is easy to implement and easy-to-use - yet sophisticated enough to meet the needs of most businesses," said Peterson. "We chose a reputable partner with a solid track record of excellent service and willingness to tailor systems to the needs of credit union members."

The extensive capabilities of S1 IBS Cash Management also influenced Professional Federal's decision, including entitlements, multifactor user authentication, and online cash management functions.

"Security is extremely important to us and to our members," noted Peterson. "With S1's powerful security features and administrative tools, we can confidently provide our business members with bill payment, wire transfer, and other online services. Moreover, we can tailor our pricing and services to meet each business member's specific needs."

S1 IBS Cash Management enables credit unions the ability to offer product packages that can satisfy business members' specific needs. Robust features and functionality in the base product enable S1's credit union partners to manage their business more effectively and focus on delivering the greatest value to their member businesses. The solution is available for in-house implementation or as a web-based service hosted by S1.

"Professional Federal Credit Union recognizes the opportunity to build relationships with prospective business members and/or sponsors by delivering enhanced online member business service solutions," said Baron Unbehagen, Senior Director of Product Management and Marketing at S1. "By selecting S1, Professional Federal is aggressively moving to gain market share, particularly with small businesses that require access to robust self-service solutions and online cash management capabilities."

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