The primary driver for the implementation is to ensure that NBD meets all of its EMV compliance obligations. S1 Postilion will replace NBD's existing system and enable the bank to take advantage of new revenue generating opportunities.
S1 Postilion, delivered in conjunction with STS, the specialist system integrator for the Middle East, fulfils all EMV compliance commitments and provides advanced services to NBD's network of 131 ATMs. S1 Postilion has the flexibility to support new and future functionality as and when required. NBD is very focused on providing customers with the highest quality of services. Rather than simply upgrading its existing system to become EMV compliant, NBD chose to invest in a leading-edge product that provides a platform from which new services and revenues are delivered.
With the number of ATMs in the Middle East growing at 10% per year, NBD requires a switch with the capability to support the advances in ATM technology and the bank's ambition to achieve automated banking. By implementing S1 Postilion, NBD is running a premier payment processing system that is simple to operate and manage. The product is also expected to deliver reduced cost of ownership over its current system in terms of the hardware platform, operating system and database management software. S1 Postilion centralises the management of all ATMs, simplifies interfaces to core banking systems and allows NBD to eliminate spurious systems.
Founded in 1963, the National Bank of Dubai is one of the UAE's oldest and most prominent banking institutions. Alongside branch banking, the ATM is NBD's most important customer interface and it is essential, therefore, that the new system has the capacity to effectively drive and maintain this key channel.
"Providing a first-class ATM channel has become an essential part of NBD's business strategy to provide enhanced customer services," comments Abdulfattah Sharaf, Head of Cards Business at National Bank of Dubai. "S1 Postilion delivers advanced ATM functionality in a cost effective manner. Along with standard ATM transactions, such as cash withdrawal and balance enquiry, we can now offer advanced transaction features like wire transfers, cheque cashing, money orders, mobile phone recharge, bill payment and eCommerce shopping, which will be delivered across a range of channels including ATMs, mobile phones or POS devices."
NBD has made a substantial investment in upgrading all its ATMs to Windows-based, state-of-the-art models that run on a TCP/IP network. This network is easy to support and manage through S1 Postilion and enables NBD to provide a very user-friendly ATM environment.
Implementation and support services are provided to NBD from an office established recently in Dubai in partnership with STS. The office also serves other S1 Postilion users in the region. According to STS's Chairman and President, Ramzi Zeine, "S1 Postilion has been developed as one of the finest EFT products available in the market today. This makes it a perfect fit with our vision to deliver full end-to-end payment services to our clients. The S1 Postilion implementation at NBD has exceeded the bank's expectations and illustrates the strength of offering we are able to provide."
"As one of the largest banks in the Middle East, the National Bank of Dubai's decision to implement S1 Postilion is a huge stamp of approval for us," says Jan Kruger, General Manager of Mosaic Software in Europe and the Middle East. "It helps confirm S1 Postilion as the number one product for this market, and we are sure that NBD will shortly be able to deliver greater levels of customer service at its ATMs."
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S1 Postilion driving National Bank of Dubai ATM network
- United Arab Emirates: Monday, September 26 - 2005 at 15:27
- PRESS RELEASE
Mosaic Software, an S1 Company (S1 Corporation, NASDAQ:SONE) and global provider of payment processing software, today announced that the National Bank of Dubai (NBD) has implemented the company's Postilion product - now referred to as S1 Electronic Payment Management, powered by S1 Postilion - to run the bank's expanding ATM network.
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About National Bank of DubaiFounded in 1963, the National Bank of Dubai is the oldest, locally incorporated bank in the Southern Gulf. Recognized as the bank with a performance that is second-to-none, NBD has built a reputation of stability and strength much appreciated by shareholders and customers alike.
Offering diversified financial services, NBD is a leader in corporate banking. Its portfolio covers a wide range of services including transport, real estate, construction, manufacturing, tourism and service industries throughout the region. In addition, NBD's 'Private Office' provides private banking services, offering highly tailored solutions to preserve and protect the personal wealth of its customers. Along with supplying customers with a variety of exclusive service based products, secured facilities, personal loans, auto loans and home loans, the National Bank of Dubai also offers a variety of treasury products and services, advising customers on exchange markets and interest rate outlook. Furthermore, NBD presents their customers with automated banking services, which consist of an internet service (NBD Online), a telebanking facility (NBD Telebank), and an SMS based service (NBD Mobile). With a comprehensive card portfolio that provides an array of benefits, the National Bank of Dubai has, over the years, built a wide ATM network as well as Point of Sale terminals in select locations throughout the UAE.
The National Bank of Dubai currently has an extensive branch network that includes 40 branches throughout the UAE. In addition, NBD also has a branch in London and a representative office in Tehran.
About Mosaic Software, an S1 Company
Mosaic Software, an S1 Company, is a global EFT software company with offices in the United States, the United Kingdom, South Africa, and Asia Pacific. The company has over 250 customers in more than 49 countries, providing leading-edge software solutions to financial institutions, retailers, network processors, mobile operators, and portals.
Mosaic Software's product, Postilion, is at the forefront of next-generation payment processing software. Postilion drives payments and other financial transactions through ATMs, POS terminals, phones, and Internet access points. This multi-channel architecture provides consistent cross-channel branding and integration, consolidated management information, integrated debit/gift card management, EMV enablement, and loyalty software solutions.
Postilion reduces transaction processing costs, speeds up time to market for new products and offerings, improves analysis of customer transactions and business opportunities, and increases profitability.
For more information, please visit www.mosaicsoftware.com and www.s1.com
About STS
STS is a (Jordan-based regional systems integrator) a regional system integrator with offices in Dubai DIC and Amman, Jordan. Throughout its 15 year history, STS has build solid relationships with the world's leading IT companies such as Microsoft, Dell, Cisco, IBM, Sun, Hypercom and Mosaic Software. They have helped STS's 200+ professionals to deliver infrastructure, security, e-government, e-business and e-banking solutions to over 200 enterprise clients in 8 Arab countries. In the field of education, STS's Arab Academy is the one of the largest IT education centres in the Middle East.
STS has focused on providing banks and financial institutions with an end-to-end payment infrastructure. Their solutions range from POS hardware and EFT software to innovative internet payment solutions.
STS are the primary delivery partner in the Middle East for Mosaic Software and Hypercom.
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 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.
Araxi H. Keoshgerian
P.R. Coordinator
Tel: 04.2012204
Fax: 04.2210319
Martina von Bonin
Mosaic Software, an S1 Company
Tel: +44 (0) 1932 574 700
Posted by Lara Lynn Golden, News EditorMonday, September 26 - 2005 at 15:27 UAE local time (GMT+4)
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