Beacon Software Signs 3 New Banks

Citizens Bank of Carthage, Tennesse, First Bank in Clewiston, Florida, and Commercial Banking Company of Hahira, Georgia, have purchased Atlanta-based Beacon Softwares Compass Internet Banking Platform.The Compass implementation brings customers at Citizens Bank of Carthage and First Bank online banking for the first time and replaces the Commercial Banking Companys existing ASP system. Once implemented, the Compass Internet Banking Platform provides banks with routine online banking services to customers including viewing statements and check images. Compass creates a business-critical Internet presence, while securely managing customer information and relationships. Compasss integrated software enables Web-based retail banking, bill payment, bill presentment and marketing support, all from one platform. The three banks also expect increased activity in commercial accounts with the introduction of the online business banking module. Unlike widely used ASP-based Internet banking systems, which charge toll fees every time a customer completes a transaction, the in-house approach gives banks control over customer information and costs. Compass empowers banks to increase adoption rates and recruit online customers with a set payment structure and its built-in marketing support. Beacon Software launched its Compass Internet Banking Platform in the fall of 2003 with implementation in six Southeastern banks to-date.