S1 appoints Terino to board; adds ACH module to corporate banking product

Source: S1 Corporation

S1 Corporation (Nasdaq: SONE), a leading global provider of customer interaction software solutions for financial and payment services, announced today that it has named Edward Terino to its Board of Directors.

Mr. Terino brings over 25 years of finance, operations and technology experience to the Company. He currently serves as the Co-Chief Executive Officer and Chief Financial Officer of Arlington Tankers Ltd. (NYSE: ATB), an international seaborne transporter of crude oil and petroleum products. Prior to this role, Mr. Terino held Senior Vice President and Chief Financial Officer positions with several enterprise software companies including Art Technology Group, Inc., a provider of Internet-based e-commerce and customer service software focused on the Global 1000 market, and Applix, Inc., a provider of business intelligence software solutions. Mr. Terino also spent eleven years at Houghton Mifflin Company, a leading educational publisher in the U.S. in various senior financial management positions and nine years at Deloitte & Touche in their consulting services group.

"We are extremely pleased to have Ed Terino join our Board of Directors," said John W. Spiegel, Chairman of the Board, S1 Corporation. "Ed's extensive experience as the chief financial officer of public software companies along with his proven track record of successful leadership make him an excellent addition to our Board."

Separately, S1 Enterprise, a division of S1 Corporation and a leading provider of multi-channel financial service software, today announced the newest release of S1 Corporate Banking, a global payment and cash management solution.

S1 Corporate Banking's new ACH module allows a bank's online customers to easily initiate and manage their ACH payments process. S1 Enterprise collaborated with leading U.S. banks, who originate more than 1.2 billion ACH payments per year, to provide a solution that meets the needs of their high-volume users. S1 Enterprise's new ACH module can be deployed as part of the S1 Corporate Banking solution or as a service within the bank's existing solutions.

This best-of-breed solution introduces new payment types including EPN STP 820 to facilitate straight-through-processing for business-to-business electronic payments by allowing corporate customers to transmit detailed remittance information and recipients to automatically record the transactions into their internal accounting systems. A new user interface design, user- defined filters, running debit/credit pop-up boxes, tooltips, and in-progress saves are a few of the enhanced usability features available to make online customers' workflow easier.

"When we provide our corporate customers with a best of breed payments solution, we provide their business with a competitive advantage," indicated Daniel McCarty, Senior Vice President, Comerica Bank. "Working collaboratively with S1 Enterprise, we are confident that corporate customers across all sales sizes will benefit from an enriched ACH payments management process."

S1 Corporate Banking also includes these new features:
  • New payment types including CTX, WEB, TEL, and Child Support
  • Extended ACH import, export, and upload capabilities, entitlements, search/filtering, and payment reporting capabilities
  • Enriched features including ACH reversals, confidential payments and templates, balanced and unbalanced ACH batches, and same-day settlement
  • Positive payment enhancements in the Check Services module include image enablement, reverse positive pay, multiple cut-off time support, and payee name match

"We understand that ACH payments are critical to a bank's business customers," said Neil Underwood, General Manager of S1 Enterprise Americas. "Our new ACH module will further our momentum in partnering with banks looking for leading-edge payment capabilities."

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