US-based Principal Bank is installing S1 Corporation's Enterprise platform and will implement the vendor's personal banking and account aggregation applications.
Principal Bank utilises a direct bank operational infrastructure – serving its customers primarily through the Web, phone, ATM and mail channels.
The bank will migrate its retail customer base from S1's legacy online banking product to the personal banking application. The account aggregation system will provide customers with access to all accounts held with Principal as well as other third-party institutions.
Barrie Christman, chief executive officer of Principal Bank, says the products will "contribute to the ability of Principal Bank to continue to increase online adoption, transition customers currently interacting with the bank via phone and mail channels, and most importantly, identify additional cross-selling opportunities."