Busey Bank, a subsidiary of Nasdaq-listed First Busey Corporation, has launched its online bill presentment and payment services using S1 Corporation's Electronic Bill Presentment and Payment (EBPP) solution.
S1, a global provider of Internet-based solutions to the financial services industry, entered SA last year and recently announced it was establishing a presence in Europe.
Busey is the first institution to use the solution to offer a paperless vehicle through which to view and pay bills. S1 says it also provides the bank with additional opportunities to strengthen customer relationships and generate revenue.
The S1 EBPP solution, coupled with online banking, enables financial institutions to provide their customers with a complete banking experience by integrating bill presentment with payments into a comprehensive banking solution.
"Busey Bank's successful implementation of the S1 EBPP solution as part of its established Internet banking services represents yet another industry first for our company," says S1 GM Chuck Ogilvie.
He says this represents the industry's first end-to-end integrated bill presentment application.
"S1 has a history of pioneering Internet banking solutions for the retail market, and by delivering the industry's first end-to-end integrated bill presentment and payment applications, we are further solidifying our defining role."
S1 counts among its customers First National Bank of Southern Africa, Chase Manhattan Bank, Bank of America, Commonwealth Bank of Australia, Deutsche Bank, JP Morgan and Merrill Lynch International Bank.
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