Regions Financial Corporation (NYSE: RF), one of the nation's top 15 financial services providers, has implemented S1 Corporation's (NASDAQ: SONE) leading consumer online banking application, S1 Personal Banking, on open standards-based IBM software and hardware.
S1 Personal Banking, one of nine S1 Enterprise applications, enables Regions to offer customers advanced online money management capabilities, extensive self-service banking features, and customised product packages to meet market segment needs.
Additionally, Regions has selected S1 Business Banking as its single online banking application for small to mid-sized businesses. The combination of the two S1 Enterprise applications will provide Regions with a rich, highly functional online solution to meet the more complex online banking needs of today's consumers and business users. With the applications on a single platform, the S1 Enterprise Platform, Regions is able to more efficiently and cost-effectively deploy the applications.
"S1 has truly been not only a vendor, but a strategic adviser to Regions Bank since we first began working together in 1996," said Mike Jackson, president of alternative delivery for Regions. "They have enabled some of our most critical online technology projects.
"With S1 Enterprise, we are now able to effectively enhance our online consumer solution," Jackson said. "And, looking forward, the common platform provided by S1 Enterprise will be an important cornerstone as we extend our services and continue to improve the applications that are critical to our customer interactions."
S1 Personal Banking is a feature-rich application that delivers customer access to account activity, online statements, bill payment, transaction categorisation and reporting, account transfers, alerts, and check services. Along with robust customer features, S1 offers a powerful bank administration tool, S1 Application Manager, which delivers enhanced product packaging and segmentation capabilities through its class-of-service feature.
"S1's continuing relationship with Regions, one of the top financial institutions in the United States, demonstrates our company's dedication to working with the leading banks over the long term to enable their key strategic initiatives," said Jaime Ellertson, chief executive officer of S1. "S1 Enterprise applications provide advanced, easy-to-use solutions on a single platform that truly help banks grow revenue, improve customer loyalty, and reduce IT costs. We will continue to work closely with Regions to maximise the value S1 Enterprise can bring to their operations."
S1 Personal Banking was implemented through S1's joint partner relationship with IBM. S1 and IBM have been strategic business partners since 2000. The companies jointly sell and market S1 Enterprise solutions and collaborate on the integration of these solutions with IBM middleware and hardware for financial services providers worldwide.
S1 Enterprise offers nine major applications, including S1 Business Banking, S1 Corporate Banking, S1 Personal Banking, S1 Insurance, S1 Enterprise Teller, S1 Enterprise Sales and Service Platform, S1 Enterprise Call Center, S1 Enterprise Voice Banking (powered by Edify), and S1 Enterprise Analytics.