S1, a leading global provider of financial services and payments software solutions, announced on Wednesday its selection by Saudi Hollandi Bank (SHB) to provide a new integrated payments platform to support the bank's ATM network and card management operations across Saudi Arabia. Replacing SHB's current multivendor, multiplatform system with S1's open-systems payments platform will provide cost savings, improve processing efficiency, and allow SHB to more efficiently roll-out new services to its customers. As the first bank to operate in Saudi Arabia, SHB has a long and enviable heritage. Over the years, various payments capabilities were introduced and the bank's IT environment grew to five separate payments platforms from multiple software vendors which became increasingly difficult, costly, and time-consuming for SHB to maintain and extend. Additionally, compliance with the latest EMV and Payment Card Industry Data Security Standard (PCI-DSS) mandates became impractical due to the complexity of SHB's IT environment. By replacing its legacy systems with a single S1 payments platform, SHB will be better able to accommodate changes in the form of new regulations, card scheme mandates, services, and technologies, while freeing-up resources to improve operational efficiency and reduce the overall cost of ownership. Moreover, as an early adopter of and compliance with the Payment Application Data Security Standard (PA-DSS), S1 will help reduce the program scope and cost involved in the bank's efforts to become PCI-DSS compliant. The S1 payments platform will consolidate transactions and help ensure that payments switching conforms to Saudi Payments Network 2 (SPAN2) processing regulations. Business processes that will be supported by the S1 solutions include ATM driving, card management, merchant acquiring services, dispute management, back office reporting, and settlement. Moreover, SHB will introduce in-branch card issuing as part of its EMV migration program leveraging Dynamic Card Solutions' CardWizard(R) product which will be integrated with the S1 payments platform to facilitate card management, instant issuance and PIN selection at the bank's branches. Rushdi Duqah, GM, Information Technology at SHB, said: “S1's payments platform is an ideal one-stop solution for banks in the Middle East. Based on globally proven technology, it will accommodate all of our processing needs, from ATM driving and back-office reporting to core payments systems and card management. With S1, we have found a partner that offers genuine payments flexibility and local support as well as the strategic vision that is essential to address our future needs.”
