1/23/2004 - Financial Fusion, Inc. announced that The South Financial Group has licensed and deployed Financial Fusion Consumer and Small Business Banking Solutions. The South Financial Group is using the Financial Fusion Banking Suite to provide a single platform for online banking to their consumer and small business customers.
Key to The South Financial Group's decision was Financial Fusion's ability to centralize its online delivery products and deploy them in a multi-bank environment. The South Financial Group has implemented Consumer Banking Solution and Small Business Banking Solution modules for banking, bill payment and presentment, alerts, check imaging, and bill payment and transfer warehouse. One of the chief benefits of the single platform approach is that it allows the bank to share functionality across delivery channels for each of its customer segments, reducing total system ownership costs. Financial Fusion's commitment to the Windows 2000 platform, along with Microsoft SQL Server database technology, was also a decisive factor in the The South Financial Group's selection.
"Choosing Financial Fusion to serve our retail, small business and corporate banking customers allows The South Financial Group to realize operating efficiencies and manage functionality across our customer base," said John C. DuBose, President, The South Financial Technology Group.
"Scalability was also crucial. Since we deployed the Financial Fusion platform, our online customer base has tripled with no capacity issues. With Financial Fusion, we feel confident that we have found a financially viable partner who will continue to provide us with leading technology that helps us attract, service and retain customers," added Quintin S. Sykes, Executive Vice President, The South Financial Technology Group.
"In today's economy, the ability to deliver successful banking implementations that leverage existing investments, contain costs and create new revenue opportunities is of paramount importance to financial institutions like The South Financial Group," said Richard Moore, President and COO, Financial Fusion. "We firmly believe that Financial Fusion is uniquely equipped to provide our customers with solutions that operate on a single technology platform but can be distributed to multiple channels and customer segments."
About The South Financial Group (www.thesouthfinancialgroup.com)
Headquartered in Greenville, South Carolina, The South Financial Group is a multi-bank holding company with assets totaling approximately $10 billion (following the 10/3/2003 merger with MountainBank Financial Corp). With approximately 134 branches in South Carolina, North Carolina, and Florida, The South Financial Group has two subsidiary banks, Carolina First Bank, the largest South Carolina-based commercial bank, serving South Carolina and North Carolina, and Mercantile Bank, serving Florida.
In addition, The South Financial Group created and operates Bank CaroLine, an Internet-based, online bank with customer accounts in all 50 states. The South Financial Group offers a full range of financial services to small and middle market businesses and consumers. For more information, please visit www.thesouthfinancialgroup.com. (NASDAQ: TSFG).
About Financial Fusion Banking Suite
Financial Fusion Banking Suite is designed to meet the product deployment requirements of the financial services industry. Our solutions provide an integrated platform for consumers, small businesses, and large corporate cash management customers and can be executed across multiple delivery channels. We support multi-bank environments with customizable solutions that offer account and payment management, bill payment and presentment, alerts, and entitlements.
About Financial Fusion
Financial Fusion provides integrated financial solutions to more than 200 of the world's leading financial institutions. Financial Fusion maintains strategic technology relationships with BEA, IBM, Microsoft, Sun Microsystems, and SWIFT. The company supplies service and support in 60 countries and is a wholly owned subsidiary of Sybase, Inc. (NYSE: SY).
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