NORCROSS, Ga., Aug. 7 /PRNewswire/ -- Postilion, a leading global provider of integrated solutions for payments and self-service banking and a division of S1 Corporation , today announced that Banco Occidental de Descuento has selected Postilion to replace its legacy payment platform. Banco Occidental de Descuento (BOD), one of the largest financial institutions in Venezuela, is implementing a full suite of Postilion products for ATM and POS terminal driving, payment switching, and card management.
"Our vision is to operate a true multichannel platform, managing not only our electronic banking network, ATMs, and POS terminals, but also offering other services in the future, such as Internet, voice, and mobile banking," states Rodolfo Rojas, VP of Technology at Banco Occidental de Descuento. "Key business drivers resulting in the selection of Postilion included reduced total cost of ownership, the built-in scalability and flexibility of the platform, and its high availability, reliability and speed."
"We set out to deliver a true multichannel infrastructure for Banco Occidental de Descuento, providing a long-term platform for future growth and the ability to create new value-added services," said Francois van Schoor, SVP and General Manager, Postilion Payments. "This transformation is truly focused on providing a differentiated experience for BOD's clients across the country. We are seeing increasing adoption of Postilion in Latin America, as banks strive to reduce their costs and provide value-added services to their customers."
About Banco Occidental de Descuento
Banco Occidental de Descuento (the Bank) is a Venezuela-based company, engaged in banking and finance services. It is the fifth largest financial institution in Venezuela, with locations in 20 states and over 200 branches. Banco Occidental de Descuento operates and finances mainly the industrial, commercial, oil, agricultural and cattle-raising sectors. Approximately 98% of the Bank's accounts are from within the Zulia state and the central states, and 80% of its clients are oil contractors and subcontractors.
About Postilion
Postilion, a division of S1 Corporation , is a leading provider of integrated solutions for payment processing and self-service banking. 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 (PCI DSS) and Visa's Payment Application Best Practices (PABP), 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/ .
About S1 Corporation
S1 Corporation 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 harbor 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 http://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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