S1 Enterprise Drives Global Convergence of Trade Finance and Corporate Banking Technology
Core Facts
- HONG KONG, 15 September 2009 – S1 Enterprise, a division of S1 Corporation (Nasdaq: SONE), and a leading global provider of multi-channel financial services software, today announced at SIBOS 2009 that it has implemented a converged Trade Finance and Corporate Banking solution to one of its largest customers in Asia in an effort to provide the bank’s corporate customers with greater visibility and control of their end-to-end, trade finance to treasury processes.
- The rapid growth of global trade, particularly in emerging markets, has created tremendous opportunity for corporations to leverage trade finance to drive revenue, and those institutions that have integrated trade finance and cash management have a competitive advantage and are able to taking advantage of this growth. S1 Enterprise offers a powerful, ready-to-scale platform featuring a range of functionalities that are all accessible through an easy to use interface.
- Recent research has indicated that end-user customers (particularly in the mid-market) are demanding combined trade finance and corporate banking services from their chosen financial services providers, with primary drivers being a simplified interface and the ability to track and report transactions online. The direct contributions of data from trade finance and related corporate banking services to an organization’s liquidity and working capital management make combined online reporting critical.
- S1 customers range from small banks to top ten global financial organizations, including premiere institutions such as ABN AMRO and Alliance and Leicester. In the Asia Pacific region, S1 Enterprise products are currently being used by the likes of Tai Fung Bank in Macau, Siam Commercial Bank and Kiatnakin Bank in Thailand, Affin Bank in Malaysia and Bank of Tokyo Mitsubishi in Singapore.
- The S1 Corporate Banking solution gives customers an edge in performing cash management functions on a global basis with a number of powerful features built with a user interface designed especially for high volume users. It delivers real-time data on account balances and transactions as well as straight-thru processing on payments. S1 Trade Finance meanwhile enhances the risk evaluation process for global trade using optimized workflow and reporting, as well as delivering up-to-date status reports on all outstanding trade finance engagements. In a sector that is fast becoming entirely paperless, S1 delivers critical letters of credit and documents securely and efficiently.
Quotes
"Working on this project has been a fantastic experience and further demonstrates that S1 Enterprise solutions meet and exceed the high standards set by the world’s largest financial organisations," said John Philpott, General Manager, S1 Enterprise International. "Combining trade finance and corporate banking is becoming essential for financial institutions to consider because of the dual benefits meeting the demands of the bank’s customers and the creation of internal efficiencies at the bank. We are very proud of this successful implementation and look forward to other collaboration opportunities with the growing list of banks in the Asia Pacific region that have successfully adopted S1’s leading edge technology."
About S1 Enterprise
More than 100 banks and three million consumer, small business, and corporate users worldwide rely on S1 Enterprise solutions to access and manage their financial information. A division of S1 Corporation (Nasdaq: SONE), S1 Enterprise is a leading provider of integrated banking solutions that enables financial service providers to receive a holistic view of their customer via a common technology platform regardless of delivery channel - branch, call center, Internet, or voice. Additional information about S1 Enterprise is available at www.S1Enterprise.com.
About S1 Corporation
S1 Corporation (Nasdaq: SONE) delivers customer interaction software for financial and payment services and offers unique solution sets for financial institutions, retailers, and processors under three brand names: Postilion, S1 Enterprise and FSB Solutions. Additional information about S1 solutions is available at www.s1.com, www.postilion.com, www.S1enterprise.com, and www.fsb-solutions.com.
S1 Corporate Banking and S1 Trade Finance, are trademarks of S1 Corporation.
Forward-Looking Statements
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act. These statements include statements with respect to our financial condition, results of operations and business. The words "believes," "expects," "may," "will," "should," "projects," "contemplates," "anticipates," "forecasts," "intends" or similar terminology identify forward-looking statements. These statements are based on our beliefs as well as assumptions made using information currently available to us. Because these statements reflect our current views concerning future events, they involve risks, uncertainties and assumptions. Therefore, actual results may differ significantly from the results discussed in the forward-looking statements. The risk factors included in our reports filed with the Securities and Exchange Commission (and available on our web site at www.s1.com or the SEC's web site at www.sec.gov) provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Except as provided by law, we undertake no obligation to update any forward-looking statement.
Contacts
Carmen Crutchfield
S1 Enterprise - Vice President, International Marketing
S1 Corporation
Tel: +44 (0)1932 574 700
Email: carmen.crutchfield@s1.com
Jennifer Shay / Angel Cheng
Bite Communications
Tel: +852 2973 0222
Email: jennifer.shay@bitecommunications.com / angel.cheng@bitecommunications.com