Postilion, a leading provider of software solutions for self-service banking and payments and a division of S1 Corporation, today announced that Business Connexion (BCX) Tanzania reports growing interest in its payments services. BCX entered into an agreement with the UmojaSwitch Consortium of Tanzania in 2007 to provide member banks with payments services via a central Postilion switching and processing platform.
When UmojaSwitch went live in December last year, six banks were connected to the switch. Since then, four additional banks have been accepted to join and applications to join the switch have been received from a further 13 banks.
BCX Tanzania owns the ATMs and the communications infrastructure and licenses the Postilion switching platform on which UmojaSwitch operates. BCX leases this infrastructure to member banks and offers accompanying services. BCX Tanzania allows member banks to share equipment and services, rather than compete for these expensive resources. In this way, financial institutions can focus on winning clients by providing quality service.
The range of services offered by BCX has broadened as more of Postilion's rich functionality has been utilised. Currently, UmojaSwitch uses Postilion for ATM driving, facilitating both debit and credit card transactions on their ATMs. Postilion also provides switching services to each of the member banks via the appropriate host interfaces. The Postilion installation handles reconciliation and reporting functionality between the banks, as well as providing a settlement file for inter-bank settlement. All UmojaSwitch debit cards are managed centrally by Postilion. Each member bank accesses the system via a unique navigation point and is responsible for issuing and managing its own cards. Transactions originating from UmojaSwitch's mobile banking application are also routed through, and processed by, the Postilion platform.
“The cornerstones of our offering to Tanzanian banks are security, reliability, ease of use, availability, and accessibility. By addressing these standards, Postilion has allowed us to deliver a solution that facilitates growth in the Tanzanian banking industry,” comments Paul Nilsen, General Manager of BCX Tanzania.
“Postilion's extensive experience in African deployments, use of standards-compliant technologies, and excellent customer support record places us in a unique position to assist BCX Tanzania in growing the services offered by UmojaSwitch,” comments Deon van Biljon, General Manager and SVP, Postilion Africa. “In doing so, we facilitate growth in the banks connected to the switch and therefore growth in BCX Tanzania's overall business operations.”
Postilion drives major transaction switches and processors in numerous African countries, including the continent's largest economies: South Africa, Nigeria, and Kenya. Smaller regional switches, such as those in Zimbabwe and Uganda, also run on Postilion platforms.
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Postilion
Postilion, a division of S1 Corporation (NASDAQ: SONE), is a leading provider of integrated solutions for self-service banking and payment processing. 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 and Visa's Payment Application Best Practices, Postilion can help customers achieve compliance with the latest data security standards developed by the payment card industry. More information is available at http://www.postilion.com.
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 http://www.s1.com, http://www.postilion.com, http://www.S1enterprise.com, and http://www.fsb-solutions.com.
Forward-Looking Statements
This press release contains forward-looking statements within the safe harbour 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 http://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.
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