S1, a provider of financial services and payments software solutions, has been selected by Saudi Hollandi Bank (SHB) to provide a new integrated payments platform to support the bank’s ATM network and card management operations across Saudi Arabia.
The company claimed that by replacing SHB’s current multivendor, multiplatform system with its open-systems payments platform, SHB will be able to accommodate changes in the form of new regulations, card scheme mandates, services, and technologies, while freeing-up resources to enhance operational efficiency and reduce the overall cost of ownership.
In addition, S1 will help reduce the program scope and cost involved in the bank’s efforts to become Payment Application Data Security Standard (PA-DSS) compliant.
According to S1, its payments platform will consolidate transactions and help ensure that payments switching conforms to Saudi Payments Network 2 (SPAN2) processing regulations. Business processes that will be supported by the company include, ATM driving, card management, merchant acquiring services, dispute management, back office reporting, and settlement.
Reportedly, SHB will introduce in-branch card issuing as part of its EMV migration program leveraging Dynamic Card Solutions’ CardWizard product that will be integrated with the S1 payments platform to facilitate card management, instant issuance and PIN selection at the bank’s branches. S1’s open-systems and SOA-based infrastructure will also provide enterprise-wide IT integration, ensuring easier management and effective business operations.
Rushdi Duqah, GM of information technology at SHB, said: “S1’s payments platform is an ideal one-stop solution for banks in the Middle East. Based on globally proven technology, it will accommodate all of our processing needs, from ATM driving and back-office reporting to core payments systems and card management. With S1, we have found a partner that offers genuine payments flexibility and local support as well as the strategic vision that is essential to address our future needs.”
Francois Schoor, divisional president at S1, said: “We are delighted to be working with Saudi Hollandi Bank and providing them with the platform that will be the foundation for their future payments services. With S1’s modern and flexible integrated payments platform in place, SHB will be able to embrace new customer-focused opportunities, solve operational problems, and unlock payments processing efficiencies.”
