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S1 signs tenth customer to m-banking technology

17 November 2008  |  2196 views  |  0 Source: S1 Corporation

S1 Corporation (Nasdaq: SONE), a leading global provider of customer interaction software solutions for financial and payment services, today announced that ten customers have licensed S1 Mobile, which enables financial institutions worldwide to drive mobile banking and payments revenues from their retail and business customers.

S1 Mobile, offered by both the Postilion and S1 Enterprise divisions, provides innovative mobile banking and payments services that enable consumers and businesses to conduct banking transactions, bill payment, retail payments, person-to-person and business-to-business payments capabilities through any mobile device using short message service (SMS), mobile browser or a combination of both mobile access modes.

The S1 Mobile solution offers market-leading mobile payments functionality including payments via ACH, wire transfers, positive pay, payment approvals and the ability to manage credit, debit, and prepaid cards. In addition, S1 Mobile provides banking features including balance inquiries, funds transfer and bill payment, and supports multi-factor authentication and multi-language capabilities, all while delivering a consistent look and feel across self-service channels.

S1 Mobile is being used by financial institutions worldwide in both a hosted environment as well as installed and run on premise by the institution. These institutions, which include community, regional and national banks, payment processors and EFT networks in North America, Africa, and the Middle East, have been leading the way in driving banking and payments through this burgeoning channel.

"We are an innovative, technology-focused community financial institution," said Michael Behn, SVP and CIO, Citizens Bank of Northern California. "As such, our vision for the mobile channel is to realize the emerging opportunity around mobile banking and payments. The success that Postilion has already demonstrated internationally gives us great confidence in the company's ability to continue to deliver the leading edge solutions that we require to stay ahead of market demands."

"The mobile channel is not just an extension of the existing online banking channel but a significant new interaction channel in which the bank can forge a deeper, more profitable relationship with both existing customers as well as new segments of customers," said David E. Westerburg, Senior Vice President and Chief Marketing Officer, Northwest Savings Bank. "S1's vision for mobile aligns well with Northwest Savings Bank's vision of serving all segments of the market, including retail and small business customers."

The mobile channel has emerged as a significant customer interaction channel. According to TowerGroup, U.S. consumers will spend more than $20 billion on handset based purchases by 2012. As a result, financial institutions around the world are not only looking to deepen customer relationships, but also to drive increased revenues through this strategic channel.

"For financial institutions of all sizes, the strongest return-on- investment from the mobile channel will come from their ability to drive payments revenues from both the retail and business customer base," said Virginia Garcia, Senior Research Director of TowerGroup's Cross-Industry practice. "Support for a wide variety of payment types as well as the ability for consumers and businesses to conduct any type of transaction through any mobile device is essential for relevancy in the payments landscape of the future."

S1 Corporation is focused on providing best-of-breed, interoperable solutions that can be deployed through all channels: online, branch, teller, ATM, contact center, and mobile. While any of these solutions can be implemented on a standalone basis, they can also be implemented on a common architecture and data model that helps financial institutions lower their total cost of ownership, particularly when deploying multiple solutions.

"S1 Corporation has a well-established culture of innovation, deep experience, and a long history of domestic and international deployments of mobile banking and payments solutions," said Johann Dreyer, CEO, S1 Corporation. "As innovators in this space, we look to continue to develop and support new mobile commerce transactions and lead the market as new mobile banking and payments trends evolve."

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