Digital Insight reports two online cash management contracts

Source: Digital Insight

Digital Insight Corp. (Nasdaq: DGIN), the leading online banking provider, announced today $1.57 billion asset Bellco Credit Union has selected Digital Insight's Member Business Services to serve its growing base of online business banking end users.

In addition, Open Technology Solutions, LLC (OTS), a credit union service organization (CUSO) owned by Bethpage Federal Credit Union of Bethpage, NY, Bellco Credit Union of Englewood, Colo., and First Tech Credit Union of Beaverton, Ore., has selected Digital Insight's Member Business Services as its preferred online cash management solution.

Bellco Credit Union, which had been seeking a proven partner to help grow and retain its online business services membership, cited Digital Insight's breadth of experience in the online cash management market place and its ability to provide businesses with a wide array of advanced self-service tools as critical to its decision. "Our agreement with Digital Insight will enable us to expand our use of technology and provide member businesses with a full range of products and services, while extending our strategic growth initiatives," said Bellco Credit Union President Doug Ferraro.

Digital Insight Member Business Services is a comprehensive cash management solution that helps business members manage their accounts, understand their cash position, make payments to their vendors, process payroll and take advantage of automatic account alerts and sweeps. Through Digital Insight, Bellco's member businesses will have access to a variety of time saving business management tools including wire and book transfers, ACH transactions and check reordering. In addition, member businesses can take advantage of Digital Insight's Web Connect, a feature that enables QuickBooks and Microsoft Money users to seamlessly interact with their personal financial management software.

Under terms of the agreement, Bellco Credit Union will also have opportunity to leverage Digital Insight's proprietary growth and retention program, a set of best practice marketing initiatives with training programs, sales tools and creative materials that encourage business members to utilize more online products and services.

OTS, a CUSO that serves top tier credit unions, entered into an agreement with Digital Insight to supplement its own retail-focused online banking solutions. "Our member institutions believe in providing best-of-breed solutions and services to their clients," said OTS Executive Director Steven Markwell. "By offering Digital Insight's Member Business Services, we are further enabling credit unions like Bellco to provide comprehensive business services to their members while helping deliver business results to the institution."

According to Callahan & Associates, credit unions offering online cash management services to small businesses represent a significant development as member-owned financial institutions increasingly pursue new growth opportunities to compete. There are more than 25 million small businesses in America today, according to several recent research reports.

"Small businesses represent a significant growth opportunity for credit unions, but properly serving them requires credit unions to have the right online tools. Digital Insight Member Business Services was created to meet this need," said Digital Insight Chairman, President and CEO Jeff Stiefler. "The respective decisions of Bellco and OTS validate our strategy to provide clients with the market-leading capabilities, products and services they need to compete and win. We look forward to building a meaningful partnership with both organizations."

Comments: (0)