Payments solutions provider S1 has announced a deal with Saudi Arabia's Saudi Hollandi Bank (SHB) for an integrated payments platform that will support the bank's ATM network and card-management operations across Saudi Arabia. Terms of the deal were not disclosed.
According to a news release from S1, SHB had previously used five difference payments platforms from multiple software vendors, which made payments processing difficult, costly and time-consuming for the bank. Rushdi Dugah, general manager of IT for SHB, says the new relationship with S1 will help the bank streamline its operations and look to the future.
"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."
