R-G Crown Bank, the Florida-based federal savings bank subsidiary of R&G Financial Corporation with $2.8 billion in assets, has selected S1 Enterprise online banking solutions from S1 Corporation (NASDAQ:SONE), a leading provider of integrated front-office applications for financial institutions.
S1 Personal Banking and S1 Business Banking will enable R-G Crown to provide rich services to meet the increasingly advanced online banking needs of its consumer and commercial customers while also leveraging the Internet channel to reduce costs and drive revenue.
With the applications on a single platform, the S1 Enterprise Platform, the bank will improve its ability to leverage customer data across applications and improve efficiencies in deploying, servicing and maintaining the system. R-G Crown will also greatly enhance its ability to target new online services to specific segments, particularly within its commercial customer base.
The bank has chosen to have the solution hosted in S1's state-of-the-art data center to ensure efficient and cost-effective deployment in addition to achieving ongoing performance and cost benefits. The S1 data center hosts applications that are accessed by more than 2.5 million end users of 400 financial institutions based in the U.S. and Europe.
"A key to our partnership with S1 is both our past success with the company and our belief in S1's Enterprise vision," said Kay Griffith, executive vice president of operations for R-G Crown. "S1 Enterprise provides R-G Crown Bank with a platform that can deliver a comprehensive view of our relationship with customers. In addition, the S1 Enterprise Platform helps us to improve and expand our services successfully in the near term and over the long term as we explore new areas of renewal and growth."
S1 Personal Banking is a feature-rich application that delivers customer access to account activity, online statements, bill payment, transaction categorisation and reporting, account transfers, alerts, and cheque services. S1 Business Banking enables business owners and operators to simplify operations, gain a real-time view of their financial position, and maximise cash flow, payables, and receivables. R-G Crown will leverage capabilities such as international wires, online enrollment, cheque-imaging, and enhanced reporting for business customers. The applications are delivered on the S1 Enterprise Platform, which is designed to help banks move toward a standard platform and a unified channel strategy as they enhance their customer-facing banking applications.
"We continue to see banks of all sizes, including smaller, high-growth banks, turn to S1 Enterprise to enable their long-term strategies focused on integration," said Ron Young, vice president of product management and strategy for S1. "S1 Enterprise can add significant value by enabling a current project while opening the door for incremental future expansion. Once the platform is deployed, it becomes easier to drop the next application in and leverage the benefits into one more area of the business."