S1 enhances corporate banking package

Source: S1 Corporation

S1 Corporation (NASDAQ:SONE), a leading provider of customer interaction software solutions for financial and payment services, today announced the newest release of S1 Corporate Banking, the company's proven online cash management solution for large corporate banking users.

The latest release of S1 Corporate Banking includes fully compliant multi-factor authentication capabilities, loan payments and reporting, an XML-based customer conversion engine including entitlements and template synchronization engines, and extended check imaging capabilities.

S1 collaborates with its leading financial institution clients to construct a strategic product path that aligns with their business and technology direction and meet the needs of their corporate banking customers. The latest release includes the integration of hardware and software one-time password authentication in response to the FFIEC mandate, conversion capabilities to facilitate and ease new customer acquisitions as well as ongoing entitlements management, and increased fraud prevention through enhanced check image access.

S1 continues to extend and deliver the multi-layered authentication solutions required by financial institutions' corporate banking users," said Christopher Young, vice president and general manager, Consumer Solutions at RSA, The Security Division of EMC. "S1 is providing integration that will allow its corporate banking customers to offer one-time password-based multi- factor authentication, in both hardware and software that banks want to provide as additional security for their corporate banking customers. S1 is a strategic partner of RSA and continues to take a leadership role in providing the appropriate security solutions for their breadth of customers."

S1 Corporate Banking allows banks to meet the needs of their corporate customers through powerful functionality including information reporting, global payments, electronic file delivery, enhanced reporting, panel authorization, check services, and advanced entitlements to better serve the needs of customers required to perform cash management functions on a global basis.

"S1 has over seventeen years experience providing cash management solutions in North America, Europe, and Asia." said Fred Dumas, General Manager, S1 Wholesale Banking Group. "We use this experience and combine it with our customers' experiences to parlay a powerful knowledge base and the latest technology to create a best-of-breed product. Our goal is to continue to bring innovative and pertinent solutions to market from a business and a technology perspective."

S1 Corporate Banking is S1's fourth generation of online cash management. The latest generation includes enhanced functionality critical for delivering traditional online cash management and both high- and low-value payment and collection transactions. The solution's multilingual and multi-currency capabilities help meet the distinct needs of financial services providers worldwide, and the unique requirements of each market segment. In addition, the proven solution offers internationally active corporate customers online banking services with support for all common international and local, country- specific standards, an advanced reporting tool, and a wide range of customizable reports.

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