NORCROSS, Ga. — S1 Corp. has licensed 10 customers for its S1 Mobile solution, which allows financial institutions worldwide to drive mobile banking and payments from their retail and business customers. S1 is focused on interoperable solutions that can be deployed through all channels: online, branch, teller, ATM, contact center and mobile.
According to a news release, S1 Mobile, offered by the Postilion and S1 Enterprise divisions, allows consumers and businesses to conduct banking transactions, bill payment, retail payments, person-to-person and business-to-business payments through any mobile device using SMS, a mobile browser or a combination of the two.
The solution offers mobile payments via ACH, wire transfers, positive pay, payment approvals and the ability to manage credit, debit and prepaid cards. S1 Mobile allows services such as balance inquiries, funds transfer and bill payment, and supports multifactor authentication and multilanguage capabilities.
"The mobile channel is not just an extension of the existing online banking channel but a significant new interaction channel in which the bank can forge a deeper, more profitable relationship with both existing customers as well as new segments of customers," said David E. Westerburg, senior vice president and chief marketing officer for Northwest Savings Bank. "S1's vision for mobile aligns well with Northwest Savings Bank's vision of serving all segments of the market, including retail and small business customers."
The mobile channel has emerged as a significant customer-interaction channel, according to TowerGroup. U.S. consumers are expected to spend more than $20 billion during handset-based purchases by 2012. FIs around the world are not only looking to deepen customer relationships and drive increased revenue through this strategic channel.
"For financial institutions of all sizes, the strongest return-on-investment from the mobile channel will come from their ability to drive payments revenues from both the retail and business customer base," said Virginia Garcia, TowerGroup's senior research director of the cross-industry practice. "Support for a wide variety of payment types as well as the ability for consumers and businesses to conduct any type of transaction through any mobile device is essential for relevancy in the payments landscape of the future."
