Source: Digital Insight
Digital Insight Corp. (Nasdaq: DGIN), the leading online banking provider, announced today Compass Bank, a member bank of Compass Bancshares, Inc. (Nasdaq: CBSS), one of the Top 30 bank holding companies in the United States, renewed and expanded its strategic partnership agreement for Corporate Banking services hosted in Digital Insight's data center.
The agreement, which dates back to 2001, was renewed through 2008 and reaffirms confidence in Digital Insight's products, security, services and support capabilities.
As Compass Bank continues its strategic expansion within high-growth markets, Digital Insight's Corporate Banking services will continue to provide a source of fee-based-revenue growth while enhancing the bank's ability to serve and retain sophisticated commercial and corporate customers.
"Online cash management products continue to be critical in increasing fee-based revenues for Compass, while providing our commercial customer base with the service and convenience they need to grow their businesses," said Joan Baraba, executive vice president of Treasury Management Services for Compass Bank, a recipient of Digital Insight's 2005 Corporate Solutions Client Award. "We look forward to growing our partnership with Digital Insight through further enhancements to our Compass e-Access corporate banking services."
Through Digital Insight, Compass Bank's Compass e-Access platform provides a range of cash management, information reporting, digital imaging and transaction initiation capabilities that enable the bank to serve, retain and grow its corporate client base throughout the Texas, Alabama, Arizona, Florida, Colorado and New Mexico markets. Prominent features include ACH, Positive Pay, Book Transfers, Wire Transfers and Electronic Report Delivery.
Under terms of the renewed agreement, Digital Insight Professional Services will augment Compass' offering to include event-based alerts and Enhanced Lockbox, self-service tools that enable corporate customers to more efficiently manage their cash position. With event-based alerts customers can request proactive real-time notification of key banking, balance and transactional events through several channels including e-mail, fax, voice and mobile text. Enhanced Lockbox allows customers to customize searches and reporting of lockbox data, documents and images of checks as soon as the information is available in the financial institution's lockbox processing facility. This information can then be downloaded for the customer's use.
"Digital Insight is pleased to continue to help Compass Bank provide their sophisticated commercial and corporate clients with the tools they need to improve business results," said Digital Insight Chairman, President and CEO Jeff Stiefler. "This renewal is testament to the quality of Digital Insight's solutions, client service and our ability to meet the needs of institutions with a large base of end users."