Northwest Savings Bank licenses S1 banking systems
09 November 2005 | 2200 views | 0
Source: S1 Corporation
Northwest Savings Bank, a full-service bank with assets of $6.4 billion, has selected S1 Personal Banking and S1 Business Banking from S1 Corporation (Nasdaq: SONE), a leading provider of integrated front-office applications for financial institutions.
With the S1 Enterprise applications, Northwest Savings, a user of S1's IBS Retail Banking system since 2001, will upgrade its online banking solutions to improve customer service and grow its online user base in both the consumer and business segments. The bank has chosen to have the solutions hosted in S1's state-of-the-art global data center, which hosts applications that are accessed by more than 2.5 million end users of 400 financial institutions based in the U.S. and Europe.
The addition of S1 Business Banking provides Northwest with an advanced solution to accelerate its efforts in the commercial banking arena and offer business customers robust cash management features such as positive pay and enhanced information reporting. By upgrading to S1 Personal Banking, Northwest Savings will gain rich online money management capabilities, extensive self-service banking features such as password reset functionality, and more flexibility to customize product packages for specific market segments.
"As a long-time customer of S1, we have the utmost confidence in their people and products," said David Westerburg, senior vice president of direct banking at Northwest Savings. "Moving up to S1's Enterprise applications in an outsourced relationship is the ideal way to address market needs, further our tradition of superior customer service, and attract new customers, especially in the small business market."
According to Westerburg, the combination of S1 Personal Banking and S1 Business Banking enables Northwest Savings to keep its technology on track with the bank's aggressive growth plans. The S1 Enterprise applications provide the capabilities the bank needs to support its online offerings with bill payment, ACH and wire payments, cash management, online statements, and check images.
"S1 is proud of its long-term relationship with Northwest Savings, and we look forward to supporting the bank's efforts to continue to improve business results and customer service," said Neil Underwood, general manager Retail Banking Solutions at S1. "As Northwest Savings grows its business and expands its services, S1 is committed to being a strategic ally that helps make its front-office operations and market initiatives successful."