S1 Corp's new eFinance solution

New capabilities in S1 retail banking 5.1 allow financial institutions to rapidly implement a complete, Windows NT-based out-of-the-box solution.
Written by ZDNet Staff, Contributor

SINGAPORE - S1 Corporation (Nasdaq:SONE), a provider of eFinance solutions and services, announces the availability of S1 Retail Banking 5.1, its Windows NT-based online banking application. With streamlined implementation techniques, financial institutions can rapidly deploy a fully functional, out-of-the-box solution that includes new capabilities for electronic bill payment and presentment, customer support tools and portal and internationalisation features, on-premise or at an S1 Data Centre. With the brandable S1 Retail Banking application, financial institutions can build and maintain strong customer relationships, generate revenue and gain competitive advantage.

"As part of a longstanding relationship with S1, we have implemented the Retail Banking application for more than 85 U.S.-based financial institutions," said Greg Sackenheim, director of eCommerce Outsourcing at NCR. "We are excited about the new product because its powerful functionality provides institutions with the industry's most competitive vehicle for delivering online financial services. The features enabling internationalisation, leading-edge bill payment and presentment, support for financial portal, one-to-one marketing initiatives and account aggregation put us at the forefront of Web-based financial services. With Retail Banking's rapid deployment capabilities, we are able to offer our customers a distinct advantage in optimising their time-to-market strategy."

This latest version of S1 Retail Banking introduces several enhancements that speed implementation time, such as an "out-of-the-box" user interface and structured data access layer, allowing financial institutions to re-brand the user interface and rapidly deploy Internet-based financial services. Banks can also build custom applications by employing Retail Banking's powerful development tools. Additional new functionality in S1 Retail Banking 5.1 includes:

- Enhanced Electronic Bill Payment and Presentment - a second generation standalone bill aggregation engine, tools for building adapters to multiple payment and presentment vendor systems and enhanced administration and reporting functionality provide financial institutions with a flexible solution for offering customers a single interface for receiving and paying all of their bills. Additionally, the new aggregation engine provides financial institutions with the ability to present bills from a variety of consolidators;

- Strengthened Customer Support Tools - S1 Retail Banking 5.1 includes customer care options, such as a new customer service desktop with "on behalf of" operation and separate transaction logs, secure e-mail communication and the ability to fully integrate online customer support with a bank's call centre, in order to build customer loyalty;

- A New User Interface - for easy, intuitive navigation to enhance customers' interactions with their financial institutions;

- New Portal Capabilities - to create powerful sites that encourage customers to make their financial institution's portal their primary destination on the Internet, S1 Retail Banking offers a brandable, pre-log-on portal with customisable content such as news, sports, weather and stock quotes;

- Internationalisation Features - S1 Retail Banking 5.1 includes support for European and Asian markets. S1 Retail Banking 5.1 supports the Euro, international payments, double byte characters and multi-currency and multi-language capabilities; and

- Integration with S1 Business Banking 5.1 - S1 Retail Banking is tightly integrated with S1 Business Banking 5.1 so that financial institutions may need to develop many of their back-end interactions only once. Together, S1 Retail Banking and S1 Business Banking form the first retail to medium-size business solution for financial institutions.

"S1 Retail Banking 5.1 will provide our customers with the functionality and flexibility they need to establish their brand quickly and cost effectively," said Herve Couturier, executive vice president of products at S1 Corporation. "This solution will play a critical role in the long-term Internet banking strategies of our most innovative NT-based customers."

S1 Retail Banking is an easy-to-customise, scalable solution that offers financial institutions the ability to provide customers anytime, anywhere access to bank account activity through balance inquiry, account maintenance, checkbook register, statement review and transaction reporting features. Other capabilities include funds transfer, e-mail correspondence, loan calculators, personal profiles and support for Intuit's Quicken and Microsoft Money. In addition, S1 Retail Banking offers SMART Options, a customer relationship management tool for one-to-one marketing experiences. SMART Options matches customer needs to products and services, broadening relationships through targeted, user-specific cross-selling that increases customer loyalty and creates the potential for new revenue.

With support for an in-house banking database, S1 Retail Banking 5.1 allows financial institutions to store data locally. The data gathering capabilities of S1 Retail Banking provide customers with real-time access to their personal and account data.

About S1 Corporation
S1 (Nasdaq:SONE) is a provider of innovative Internet-based financial services solutions. S1 offers a broad range of applications that empower financial organisations to increase revenue, strengthen customer relationships and gain competitive advantage by meeting the evolving needs of their customers across various lines of business, market segments and delivery channels. Through its professional service organisation, S1 Corporation's applications can be implemented in-house or outsourced to the S1 Data Centre.

Editorial standards