Sterling Savings to offer Digital Insight cash management product
Digital Insight(R) Corp. (NASDAQ:DGIN) (www.digitalinsight.com), the leading online banking provider, today announced that Washington-based Sterling Savings Bank will offer the Magnet online cash management solution to its large business clients. Digital Insight acquired Magnet Communications in November 2003, in part, because Magnet's robust cash management solution would provide an added benefit to existing Digital Insight clients.
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Sterling Savings Bank has $6 billion in assets and currently offers a variety of Digital Insight products and services, including Internet banking and bill pay, to its 134,000 customers.
"Adding the Magnet online cash management product is part of an aggressive growth strategy we have implemented for our business banking clients," said Dave Bobbitt, President of Sterling Savings Bank. "Our large commercial clients need a robust system that has controlled disbursements, cash concentration, sophisticated alerts and lock box capabilities."
"We are delighted to expand our partnership with Sterling to include cash management for its large corporate clients," said Jeff Stiefer, chairman, president and CEO of Digital Insight. "Cash management is one of the fastest-growing sectors within banking, and our comprehensive suite of online solutions provide a compelling value proposition for our clients and their customers."