Digital Insight Introduces Member Business Services

Wednesday 23 February 2005 16:41 CET | News

Digital Insight Corp., a leading online banking provider, today introduced Member Business Services, a business banking application designed specifically for credit unions, their back office systems and their members.

Digital Insight Member Business Services features electronic funds transfer via ACH or wires, online bill payment for small business and positive pay to help prevent check fraud. According to credit union research authority Callahan & Associates, it represents a significant development as credit unions pursue new growth markets to compete. Callahans Vice President Bret Remey said, Due to competitive pressures, credit unions are going beyond the traditional retail channels to serve their members. Serving the small business community not only provides credit unions with another means of growth, but more importantly, solidifies member value. There are more than 25 million small businesses in America today, according to several recent research reports. The experience of Mountain America Credit Union, a Digital Insight client, underscores the growing demand for business banking services among credit union members. The West Jordan, Utah-based financial institution received so many requests for business checking accounts it began offering one. Soon, Mountain America had $80 million in business deposits in 2004, a 30% increase from the previous year. Our business members asked us for an online solution with cash management capabilities that fit their needs. Digital Insight Member Business Services is exactly that, said Tony Rasmussen, vice president for eServices at Mountain America Credit Union. Mountain America believes in outsourcing and in our partnership with Digital Insight to bring us the tools we need to serve our members and compete. Digital Insight Member Services is a comprehensive cash management solution that helps business members manage their accounts, understand their cash position, make payments to their vendors, process payroll and take advantage of automatic account alerts and sweeps. It is the only cash management solution available today that is customized to credit unions back office operations and their members. Digital Insight also offers Member Business Services growth and retention programs specifically designed to help credit unions launch their online services and attract and retain member businesses ranging from micro to small to the middle-market.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce


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