S1 Enterprise, a division of S1 (NASDAQ:SONE), has unveiled its new Electronic Vault, which facilitates the secure upload of store and manage files for online retail and business banking customers via a bank's online portal.

The new solution reduces risks to data associated with computer damage, loss or theft by allowing customers to electronically copy their files to a storage location at a bank, a convenient alternative to physically placing copies of files into a traditional safety deposit box.

"S1 Electronic Vault improves customer satisfaction and therefore customer retention by providing an additional service that utilizes the unique benefits of banking online," Jan Kruger, president of S1 Enterprise, said in a statement. "S1 Enterprise not only offers S1 Electronic Vault as a stand alone product, but also as an integral component of our S1 Online Banking solutions."