S1 Corporation And Fundamo Sign OEM Agreement

Published 10th November 2006

Postilion to offer banks mobile services that target a wider population and create new revenue streams...

CAPE TOWN and ATLANTA, 8th November -- S1 Corporation (Nasdaq: SONE), a leading provider of customer interaction software for financial and payment services, today announced an OEM agreement with Fundamo, a specialized mobile banking and transaction solution provider. Under the terms of the agreement, Fundamo’s software – integrated with Postilion transaction management software to deliver mobile services– will be offered under Postilion warranty, support, and licensing agreements.

The integration of Fundamo’s software with Postilion creates the opportunity for new revenue streams for banks. Two mobile application offerings can be deployed in conjunction with Postilion. The first is targeted at the individual or end-user; the second at businesses.

The mobile application for individuals offers, amongst other functions, mobile banking, person-to person payments, prepaid purchases such as airtime and electricity, bill payments, and alerts of activities on underlying accounts. Mobile-based authentication and card mobile enablement – where card features such as blocking a card are made available on the phone – are also on offer.

The mobile application for businesses consists of business mobile banking, vending (airtime, prepaid electricity, ticketing), bill collections, cash on delivery payments, and business-to-business payments.

Dean Jordaan, Head of Global Product Strategy, Postilion Payments Group, S1, commented as follows on this development: “The agreement signed between Fundamo and S1 is the culmination of a working relationship developed over some years and will enable our banking customers to target a wider population with an electronic transacting channel, especially in markets where Internet and voice banking penetration is low. It will also provide banks with new revenue streams from transactions and commissions on products that are traditionally not part of their offerings. Extending Postilion’s functionality in this way will therefore further benefit our existing clients financially in terms of their investment in our solutions.”

Aletha Ling, Fundamo’s Head of Global Sales and Marketing, commented that “the combined experience and products of S1 and Fundamo create a very exciting proposition for our customers”. She pointed out that “by enabling banks’ customers to do transactions not possible previously or by providing them with a more convenient way to transact, the new agreement between Fundamo and S1 will allow the benefits in the huge growth in the mobile phone market to be translated into solid profit for all banks that would deploy such a solution.”

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