Sky Bank anticipates that the deployment of these applications will drive revenue in the lucrative small to mid-market business segment as well as extend its online cash management services to large corporate customers.
For the small to mid-market businesses, S1 Business Banking will aim to simplify operations, provide a real-time view of their financial position, and maximize cash flow, payables, and receivables by offering account information, payments, transfers, and check services. Sky Bank also intends to implement new, value-added features such as online lockbox images, positive pay, bill pay, account alerts, and online ACH tax payments using the package.
For high-volume users in large corporations, Sky anticipates receiving S1 Corporate Banking features such as a payments engine, advanced entitlements, an extended wire payments module, and reporting tools for managing the daily cash position of operations.
S1 Enterprise will enable Sky Bank to deploy deep online capabilities to target both small business and corporate customers, and it enables them to do this with a low total cost of ownership, said Ron Young, vice president of product management for S1. With a unified platform, Sky Bank can deploy, service, and maintain multiple applications more efficiently and cost-effectively.
