[2] Principal Financial Group's Internet Bank Experiences Rapid Growth.CARMEL, Ind.--(BUSINESS WIRE)--Nov. 8, 1999-- Baker Hill's OnePath Technology Drives Web Site, Automates Financial Transactions Baker Hill, an Indiana-based technology solutions firm, announced the implementation of its OnePath(TM) technology by Principal Financial Group's Des Moines Des Moines, city, United States Des Moines (dĭ moin`), city (1990 pop. 193,187), state capital and seat of Polk co., S central Iowa, at the junction of the Des Moines and Raccoon rivers; inc. , Iowa-based Principal Bank, using the Internet as one of its major distribution channels. OnePath is an efficient product application processing system that automates the processing of product applications according the bank's business rules. OnePath allows Principal to design and streamline its financial processes, collecting information electronically from all channels and, when appropriate, integrating systems throughout the bank to automate To turn a set of manual steps into an operation that goes by itself. See automation. the process. Unlike proprietary processing systems that automate only a specific product or set of services, OnePath can handle all financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. products that banks offer. OnePath operates as a channel-independent product origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real platform. It completely automates deposit and loan processing via the Internet by empowering a bank to drive transactions through its Web page. "Most bank Web sites collect and accept product applications, but oftentimes of·ten·times also oft·times adv. Frequently; repeatedly. Adv. 1. oftentimes - many times at short intervals; "we often met over a cup of coffee" frequently, oft, often, ofttimes the automation ends there and information is re-keyed manually when the application reaches the bank," Jim Hill Jim Hill may refer to:
"The application is process is almost completely automated," Mark Sperfslage, vice president, CFO See Chief Financial Officer. and COO of Principal Bank, said. "After the initial customer information is received via the Internet, Intranet or a Call Center, our staff does not have to re-key data again with the exception of ordering a debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. . We've customized OnePath to access the credit bureau, then streamline the information into our core processor. It also automatically sends information to a check printer." "Our goal," Sperfslage continued, "is to enhance the customer relationship of other Principal enterprises through cross-selling." Principal Bank expects to increase its assets to $100 million by year end and anticipates using OnePath to drive other products in its insurance and mutual fund division. About Principal Bank Principal is one of the first banks to use the Internet as a primary distribution channel. It is a member of the Principal Financial Group, based in Des Moines, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, and offers a full range of banking services. Specific online features include account statements and summaries, transaction registers, transferring funds, reports and payees. Principal customers are also easily able to utilize bill pay, quick pay, online credit card statements and check imaging. Its flagship company, Principal Life Insurance Group, was founded in 1879. Its total life insurance in force in 1998 was $158 billion. For more information about Principal Bank, write to 711 High Street, Des Moines, IA 50392-0040, or call (800) 986-3343. Visit its Internet site at www.principal.com. About Baker Hill Baker Hill has been providing technology solutions since 1983. Baker Hill solutions are currently in use at more than 1,000 financial institutions ranging in size from small community banks to super regionals and money center giants. Its technology solutions include OnePath, which streamlines and integrates the processing of bank product applications and OnePoint, which is a 32-bit, consolidated database designed with four integrated modules for customer relationship management. Those modules include Sales, Management/ Business Development, Pricing and Profitability, Underwriting/Credit Analysis and Portfolio Management/ Exception Tracking. OnePoint is in use by more than 700 banks, increasing efficiency and profitability through a back-office and front-line management information system. For more information contact Jim Hill, at (800) 821-8664 ext. 114, write 655 West Carmel Drive, Suite 100, Carmel, Indiana Carmel (IPA: [ˈkɑɹ.ml̩]) is a city in Hamilton County, Indiana, United States. The population was 37,733 at the 2000 census but has been growing very rapidly. 46032 or email jhill@bakerhill.com. Visit its Internet site at www.bakerhill.com. |
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