Andersen Consulting and S1 Corporation to work together in SA

Andersen Consulting and S1 Corporation South Africa recently announced that they are working together locally to reap the full benefits of the global strategic alliance between Andersen Consulting and S1. This alliance will help financial services clients capitalise on the power of the emerging electronic economy.

Says Dave Donkin, associate partner at Andersen Consulting, South Africa: "The outcome of this alliance will be to increase financial services organisation`s ability to leverage new technology, increase speed to market and compete more effectively in the fast-changing world of Internet services."

"We see enormous opportunities in working closely with Andersen Consulting in the South African market. Already we are beginning to see exciting developments happening internationally, which we will take advantage of on a local level," comments Steve van den Heever, country manager S1 Corporation, South Africa.

Andersen Consulting, a leading global management and technology consultancy, and S1 Corporation, a premier provider of Internet-based applications, have formed an alliance to jointly develop business strategies and implementation processes.

Andersen Consulting has made an equity investment of $4 million in S1. As a part of the alliance, the two organisations will be strategic and preferred business partners. Additionally, Jack Wilson, managing partner - Global Markets for Andersen Consulting, has been named to the Board of Directors for S1 Corporation.

"Virtually overnight, the Internet and user-friendly technology have empowered a new generation of consumers with heightened expectations of Financial Services providers," said Joel Friedman managing partner for Andersen Consulting`s global Banking Line of Business. "Customers now define the products and services they want as well as how and when they access them. The winners in this new scenario will be the providers that rapidly transform themselves, exploiting new technologies to respond to customer demands."

Both S1 and Andersen Consulting are leaders with a significant presence in the financial services industry. One of the first areas of collaboration between the two firms will be co-developing new applications to help insurers quickly establish and manage online relationships with their customers.

"By leveraging the expertise of both S1 and Andersen Consulting, this alliance not only validates the delivery of financial services over the Internet as a strategic channel, but also defines new standards of information access and integrated services," said James Mahan III, CEO of S1 Corporation Technologies.

"As more organisations, from both traditional and non-traditional backgrounds, enter the financial services industry, the market for Internet services will expand dramatically. With Andersen Consulting`s strategic leadership and global infrastructure, as well as its implementation resources and experience, S1 will be better equipped to meet the challenges brought on by this explosive growth."

"We search for innovators and market leaders that complement our own skills and capabilities in order to deliver the best business solutions to our clients," said Joel Friedman. "We believe S1`s technology and functionality are compatible with our own vision and strategic industry point-of-view. Our relationship with them will help us to more effectively create eCommerce strategies and solutions for our clients."

Andersen Consulting`s Financial Services practice provides strategic management and technology consulting to Financial Services firms throughout the world across three broad industry segments: Banking, Insurance and Health Services. The practice serves, among other organisations, retail, investment and commercial banks; investment management firms; securities firms; depositories; exchanges; property & casualty insurers; life insurers; health insurers and health providers.