Postilion Wins Legacy Payment Platform Replacement at Banco Occidental de
Descuento
Postilion powers EFT transformation with open systems technology
NORCROSS, Ga., Aug. 7 /PRNewswire/ -- Postilion, a leading global provider
of integrated solutions for payments and self-service banking and a division
of S1 Corporation (Nasdaq: SONE), today announced that Banco Occidental de
Descuento has selected Postilion to replace its legacy payment platform. Banco
Occidental de Descuento (BOD), one of the largest financial institutions in
Venezuela, is implementing a full suite of Postilion products for ATM and POS
terminal driving, payment switching, and card management.
"Our vision is to operate a true multichannel platform, managing not only
our electronic banking network, ATMs, and POS terminals, but also offering
other services in the future, such as Internet, voice, and mobile banking,"
states Rodolfo Rojas, VP of Technology at Banco Occidental de Descuento. "Key
business drivers resulting in the selection of Postilion included reduced
total cost of ownership, the built-in scalability and flexibility of the
platform, and its high availability, reliability and speed."
"We set out to deliver a true multichannel infrastructure for Banco
Occidental de Descuento, providing a long-term platform for future growth and
the ability to create new value-added services," said Francois van Schoor, SVP
and General Manager, Postilion Payments. "This transformation is truly focused
on providing a differentiated experience for BOD's clients across the country.
We are seeing increasing adoption of Postilion in Latin America, as banks
strive to reduce their costs and provide value-added services to their
customers."
About Banco Occidental de Descuento
Banco Occidental de Descuento (the Bank) is a Venezuela-based company,
engaged in banking and finance services. It is the fifth largest financial
institution in Venezuela, with locations in 20 states and over 200 branches.
Banco Occidental de Descuento operates and finances mainly the industrial,
commercial, oil, agricultural and cattle-raising sectors. Approximately 98% of
the Bank's accounts are from within the Zulia state and the central states,
and 80% of its clients are oil contractors and subcontractors.
About Postilion
Postilion, a division of S1 Corporation (Nasdaq: SONE), is a leading
provider of integrated solutions for payment processing and self-service
banking. Our offices, on five continents, serve over 1,500 customers in more
than 50 countries. Postilion solutions drive self-service financial
transactions and payments, including advanced transactions such as prepay,
through Internet access points, ATMs, POS terminals, and phones.
More than 100,000 ATMs and 500,000 POS terminals worldwide run on
Postilion solutions. In the United States, over 1,250 credit unions and
community financial institutions use Postilion solutions. Built on open
systems, Postilion solutions provide consolidated management information, card
management, 3DES and EMV enablement, and loyalty management. At the forefront
of compliance with new regulations and security enhancements, such as the
Payment Card Industry Data Security Standard (PCI DSS) and Visa's Payment
Application Best Practices (PABP), Postilion can help customers achieve
compliance with the latest data security standards developed by the payment
card industry. More information is available at www.postilion.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.
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.
SOURCE Postilion
Cheyanne Atchley, Postilion, +1-512-336-3128, cheyanne.atchley@postilion.com;
Caroline Traylor, Porter Novelli, +1-512-241-2239,
caroline.traylor@porternovelli.com
