Principal Bank will deploy S1 Personal Banking and S1 Account Aggregation applications to provide more than 85,000 retail and commercial customers with comprehensive financial services through self-service banking capabilities. Integral to meeting the aggressive growth plans of Principal Bank over the next several years, S1s solutions not only deliver information and transaction history for Principal Bank, it will also enable Principal Bank to offer additional financial services to the more than 14 million customers of the Principal Financial Group through the consolidated product view provided on www.principal.com. Principal Bank utilizes a direct bank operational infrastructure - serving its customers primarily through the Web, phone, ATM and U.S. Mail channels. Principal Bank will migrate its retail customer base from S1s legacy online banking product to the S1 Personal Banking application. Principal Bank will leverage S1 Personal Banking to enhance its leading-edge capabilities, such as 24-hour access to real-time account information and the ability to customize alerts and messages, while achieving one consolidated view of each customer relationship. Utilizing the S1 Account Aggregation application, the bank will be able to create a single point of access to all of the accounts customers hold with Principal Bank and other third-party institutions of the customers choosing. Because the S1 solutions are integrated on the S1 Enterprise Platform - a flexible J2EE-based architecture - the applications can be seamlessly integrated with the banks legacy products, back-end products from other vendors, and the large-scale systems housed at the Principal Financial Group.
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