US-based S1 Corporation and IBM have entered a global strategic alliance to deliver comprehensive e-business solutions to assist financial institutions in offering Internet-based corporate banking.
The S1 Corporate Suite on the IBM platform enables banks to offer their corporate clients a wide range of online cash and asset management services.
Under the terms of the agreement, the companies will jointly market and sell the S1 Corporate Suite, and IBM will expand its financial services e-business practice to include S1 specialists focused on providing consulting, customisation and integration services.
S1 will strengthen its commitment to IBM's Application Framework for e-business and continue to incorporate IBM's middleware and operating systems, which are part of the framework, into its Corporate Suite.
"Business clients are increasingly looking to the Web as a way to do their banking to improve operational and cost-efficiency, and corporate bankers are looking to innovative Web technologies to address that need," says Michael Cannon-Brookes, GM of the IBM Global Banking Industry.
"We are pleased to be able to leverage IBM's rich heritage in the financial services market as we extend the reach of our corporate banking applications," says S1 CEO James Mahan.
"This alliance also provides S1 with the added bench strength to deploy our solutions more rapidly in this fast-moving marketplace." He adds that the announcement with IBM is the start of a very significant relationship that could expand both companies' market opportunities beyond corporate Internet banking.
This is another example of the strategic alliances IBM is creating with leading independent software vendors, based on a developer alliance initiative announced in November 1999.
The IBM Application Framework for e-business is a technology roadmap that helps developers integrate Internet technologies with traditional IT.
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