S1 Corporation (Nasdaq: SONE), a leading provider of customer interaction software solutions for financial and payment services, today introduced S1 Marketing Center for MISER, a software tool that helps financial institutions to improve cross selling in all channels.
The new product is a new component of S1's Full Service Banking Application (FSBA) for MISER branch software and is integrated with the Fidelity National Information Services, Inc. MISER core processing system.
S1 Marketing Center for MISER profiles an institution's customers, segments them according to a user's qualification criteria for a particular promotion, and identifies cross-selling opportunities at the time of service for tellers and customer service representatives.
"Now MISER users can be much more proactive and effective in cross selling to existing customers," said Matt Hale, group president of S1 Corporation. "S1 Marketing Center for MISER helps to segment those customers who are most likely to buy. Knowing who is in the target group gives users the freedom to make offers without fear of soliciting customers who have the product or declined the offer, ultimately improving the customer experience."
Santo Cannone, General Manager of Fidelity's MISER product group commented, "For years, MISER users have enjoyed the benefits of S1's best-in- class branch banking solutions tightly integrated with the comprehensive capabilities of the MISER core processing offering. The addition of S1 Marketing Center for MISER will enhance our customers' ability to better serve their clients, more easily identify new business opportunities and further extends the successful, long term partnership between S1 and Fidelity MISER."
Users of S1 Marketing Center for MISER can define appropriate cross- selling responses for teller, account service, contact center and Internet channels. Using previously built profiles and selection of targeted customers, the tool delivers cross-selling prompts only when a transaction or contact session is occurring with a qualified customer. Offers can be restricted to specific channels or directed to all channels.
Customer responses to an offer are tracked by employee. Goals, sales results and referrals can be tracked by cost center, employee and channel. The system was developed in conjunction with MISER-S1 customers and has had comprehensive pre-release field testing with them.
One of the pilot customers, Ameriana Bank and Trust, New Castle, Ind., has already experienced extensive benefits in using S1 Marketing Center for MISER for a wide variety of marketing initiatives. The tool has helped Ameriana to launch a new CD product, increase IRA sales, promote home equity lines of credit, cross-sell deposit accounts to commercial lending customers, reward 25-year customers, and gain deposit business from loan customers who had accounts at a competitor's recently closed branch. S1 Marketing Center for MISER was a key factor in the success of all of these initiatives, according to Timothy G. Clark, executive vice president and chief operating officer, Vicki Popplewell, vice president and sales manager, and Stacy Darling, vice president of information technology and operations manager. In addition, the tool's reports help management to identify effective cross sellers who can help train other employees.
"The product is very easy to use, so we can quickly identify the target group for a promotion or loyalty gift," said Popplewell. "When management wants to know who the prospects are for a promotion they are considering, I can find out almost immediately. We've never been able to do that before, so it's very exciting for us!"
Oswego County National Bank, Oswego, N.Y., a new user of S1 Market Center, installed the tool in less than a week and has already used it for unique applications. After the bank mailed a home equity loan promotion to 750 customers, 47% of them got a personal follow-up when they visited a branch: S1 Marketing Center prompted tellers to remind each targeted customer about the offer.
"We see Marketing Center as more than a marketing tool," said Judy Percy, senior vice president and chief information officer. "For example, we are already using the product to cleanse and gather account information. If we need, say, the customer's birth date or an updated address, the tool prompts the teller to ask for this information."
S1 Marketing Center is integrated with MISER and Seibel data warehouses, and accepts data from multiple sources, including host and back-end databases. The tool also includes a strong, yet easy-to-use householding feature that groups multiple customers within a household.