Saudi Hollandi Bank (SHB) has selected S1 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.
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.
The S1 payments platform will consolidate transactions and help ensure that payments switching conforms to Saudi Payments Network 2 (SPAN2) processing regulations.
Rushdi Duqah, general manager, IT 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.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more