Synovus Financial, a $16.7 billion asset, multi-financial services company, is to implement key S1 Enterprise applications, including S1 Personal Banking and S1 Sales and Service Platform, for Internet and branch delivery channels.
Under its five-year agreement with S1, which has a value of up to $10 million during its term, Synovus will deploy the solutions for all of its banking affiliates across Georgia, Florida, Alabama, and South Carolina, covering 300 branches.
The bank says the selection of incumbent supplier S1 will enable the consolidation of multiple platforms into a single, common system that leverages a standard architecture.
S1 Sales and Service Platform is comprised of a set of workflows, transactions, sales tools, and core services designed to imrpove cross-selling as well as servicing existing accounts. The application also provides a central repository for customer information and Synovus' enterprise data, which helps create a customer-centric banking environment. Additionally, Synovus will work with S1 to deploy a fully integrated deposit and loan system complete with account origination functionality.
S1 Personal Banking, built on the vendor's J2EE-based Enterprise Platform, will be applied to Synovus' online retail banking services. Customers of Synovus' family of banks will be able to view account histories for cleared and pending transactions, transfer money between internal accounts in real time, and access extensive bill payment features online.