S1 Corporation, a leading global provider of customer interaction financial and payment solutions, today announced a strategic alliance with Andera, Inc., the leading provider of account opening and funding solutions to the retail financial market.
Delivered through Postilion, Inc. and its S1 Enterprise divisions, all of S1's Internet banking solution customers can capitalize on the power of Andera's new account opening capabilities to facilitate easy account opening via the Internet.
Eva Weber, Analyst with Aite Group, a leading independent research and advisory firm, recently described the importance of new account opening in her report, Something for Everyone: Online Account Opening Delivers the Goods. She found the potential savings from online account opening solutions is compelling. For example, a mid-sized bank with 20 per cent of their new accounts opened online could realize an enormous $1,125,000 in savings over traditional account opening methods. Weber will present these findings today at the Postilion Roadshow in Austin, Texas where Andera will also present their solution to Postilion customers from across the country.
Charlie Kroll, CEO of Andera observed, "Andera has continuously demonstrated its value, meeting the most demanding requirements of financial institutions of every size, all in the effort to enhance the user experience. Integrating Andera within the market leading solutions from S1 enables more banks and credit unions to significantly streamline the account acquisition process, leading towards a more profound experience for the user."
The integrated Account Opening solution from Andera and S1 provides the following benefits:
- allows customers to open new accounts from their institution's Web site as well as from within their online S1 solutions
- is available to all existing and new Postilion retail Internet banking, Postilion business Internet banking, S1 Personal Banking and S1 Business Banking customers
- significantly streamlines the account opening process while facilitating cross-selling for more organic growth
- integrates the ability to fund a new account online in a highly secure way
- enables customers to open accounts 7 x 24, verifies an applicant's information in real time, and offers customers faster account setup
- offers greater convenience to the customer and positions the institution as providing convenience and availability
"Creating an easy process for opening an account - for both the user and the institution - is the goal of our partnership with Andera," said Johann Dreyer, CEO of S1 Corporation. "This integrated solution not only leads to smooth account opening and a better user experience, but will help institutions facilitate cross-selling of products for critical organic growth."