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Digital Insight and Compass Bank Renew, Expand Agreement for Corporate Banking Services Through 2008
PRNewswire.com
September 28, 2005
Online Banking Provider Gives Top 30 Bank Holding Company the Competitive Edge
in Serving More Than 2,000 Corporate Customers
CALABASAS, Calif., -- Digital Insight
Corp. (Nasdaq: DGIN), the leading online banking
provider, announced today Compass Bank, a member bank of Compass Bancshares,
Inc. (Nasdaq: CBSS), one of the Top 30 bank holding
companies in the United States, renewed and expanded its strategic partnership
agreement for Corporate Banking services hosted in Digital Insight's data
center. The agreement, which dates back to 2001, was renewed through 2008 and
reaffirms confidence in Digital Insight's products, security, services and
support capabilities.
As Compass Bank continues its strategic expansion within high-growth
markets, Digital Insight's Corporate Banking services will continue to provide
a source of fee-based-revenue growth while enhancing the bank's ability to
serve and retain sophisticated commercial and corporate customers.
"Online cash management products continue to be critical in increasing
fee-based revenues for Compass, while providing our commercial customer base
with the service and convenience they need to grow their businesses," said
Joan Baraba, executive vice president of Treasury Management Services for
Compass Bank, a recipient of Digital Insight's 2005 Corporate Solutions Client
Award. "We look forward to growing our partnership with Digital Insight
through further enhancements to our Compass e-Access corporate banking
services."
Through Digital Insight, Compass Bank's Compass e-Access platform provides
a range of cash management, information reporting, digital imaging and
transaction initiation capabilities that enable the bank to serve, retain and
grow its corporate client base throughout the Texas, Alabama, Arizona,
Florida, Colorado and New Mexico markets. Prominent features include ACH,
Positive Pay, Book Transfers, Wire Transfers and Electronic Report Delivery.
Under terms of the renewed agreement, Digital Insight Professional
Services will augment Compass' offering to include event-based alerts and
Enhanced Lockbox, self-service tools that enable corporate customers to more
efficiently manage their cash position. With event-based alerts customers can
request proactive real-time notification of key banking, balance and
transactional events through several channels including e-mail, fax, voice and
mobile text. Enhanced Lockbox allows customers to customize searches and
reporting of lockbox data, documents and images of checks as soon as the
information is available in the financial institution's lockbox processing
facility. This information can then be downloaded for the customer's use.
"Digital Insight is pleased to continue to help Compass Bank provide their
sophisticated commercial and corporate clients with the tools they need to
improve business results," said Digital Insight Chairman, President and CEO
Jeff Stiefler. "This renewal is testament to the quality of Digital Insight's
solutions, client service and our ability to meet the needs of institutions
with a large base of end users."
With 5.7 million consumers and 95,000 businesses actively using Digital
Insight's online banking platforms, Digital Insight remains the largest
outsourced provider of Internet banking services in the United States.
About Compass Bancshares, Inc.
Compass Bancshares, Inc. is a $29.5 billion Southwestern financial holding
company that operates 385 full-service banking offices in Alabama, Arizona,
Colorado, Florida, New Mexico and Texas. Compass is among the top 30 U.S.
bank holding companies by asset size, and ranks among the top earners of its
size based on return on equity. The company's earnings per share have
increased for 17 consecutive years, and dividends per share have increased for
24 consecutive years. Shares of Compass' common stock are traded through the
NASDAQ stock market under the symbol CBSS. Additional information about
Compass, a member of the S&P 500 Index and Dow Jones Select Dividend Index,
can be found at http://www.compassweb.com.
About Digital Insight
Digital Insight(R) Corporation is the leading online banking provider for
financial institutions. Through its comprehensive portfolio of Internet-based
financial products and services built upon the company's unique architecture,
Digital Insight enables banks and credit unions to become the trusted
transaction hub for their retail and commercial customers. Digital Insight
offers consumer and business Internet banking, online lending, electronic bill
payment and presentment, check imaging, account-to-account transfers, website
development and hosting and marketing programs designed to help increase
online banking end user growth and more. Each Digital Insight product and
service reinforces the strength of its financial institution clients.
Safe Harbor Statement under the Private Litigation Reform Act of 1995
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are based
on management's current expectations. Because of various risks and
uncertainties, actual strategies and results in future periods may differ
materially from those currently expected. Additional discussion of factors
affecting these forward looking statements is contained under the caption
"Risk Factors" in Digital Insight's most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q filed with the Securities and Exchange
Commission. Digital Insight undertakes no obligation to update publicly any
forward-looking statements.