S1 Delivers Tools to Help Banks Get Significant Return on Their Investments

Thursday 11 December 2003 11:31 CET | News

Several financial services providers have been able to gain a significant return on their investments using the latest application tools built into S1s Internet applications on the S1 Enterprise Platform. Banks using one of S1s Enterprise solutions, which include S1 Personal Banking, S1 Business Banking or S1 Corporate Banking, gain access to a set of robust development tools, which include S1 Application Manager (SAM). The solutions are built on the S1 Enterprise Platform, the industrys first multi-channel, multi-application platform. Dozens of S1 customers are already utilizing the unique SAM capabilities built into S1s Internet solutions to quickly and easily manage and customize their customer-facing applications, products, promotions and brands based on their specific product and service strategies. With a unique, intuitive Web-based interface institutions are finding that the ability to rapidly define segments of customers that require different levels of service and deploy new products and pricing plans specific to market segments is easier than ever with S1s solutions. For example, TCF Bank is leveraging SAM capabilities for pricing its online banking services. By implementing its new pricing structure defined by the SAM class of service feature, the $12 billion institution has calculated the increased revenue opportunity gained to grow from $1 million to $3 million annually over three years. "By using the functionality built into S1s Internet banking applications, we are tailoring services for high-value customers and expanding on our pricing strategy of charging for different online banking packages for different customer groups," said Tim Doyle, senior vice president and director of online banking at TCF. According to the Council on Financial Competition, technology-based tools significantly help banks offer more individualized service thus engendering increased customer loyalty. Additionally, by creating intelligent targeted packages, banks can increase market share cost-efficiently.

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Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech