Saudi Hollandi Bank selects S1 payments platform
Saudi Hollandi Bank simplifies payment and other processes by replacing legacy systems with S1 payment platform and card management
Saudi Hollandi Bank (SHB), the oldest bank in Saudi Arabia, has selected a new payments platform from S1 to replace its legacy systems.
The bank will deploy S1's open-systems payments platform, which will manage a range of business processes, including ATM driving, card management, merchant acquiring services, dispute management, back office reporting, and settlement.
The bank currently has a multi-vendor, multi-platform legacy system that has become overly complex to manage. The new platform will provide cost savings, improve processing efficiency, and allow new services to be deployed more effectively. The open systems, SOA-based approach will also allow for greater integration with other systems.
Francois van Schoor, Divisional President, S1, commented: "We are delighted to be working with Saudi Hollandi Bank and providing them with the platform that will be the foundation for their future payments services. With S1's modern and flexible integrated payments platform in place, SHB will be able to embrace new customer-focused opportunities, solve operational problems, and unlock payments processing efficiencies."
The bank also found that its legacy systems made compliance an increasingly difficult task, particularly with regard to new standards. The S1 platform will give the bank more flexibility to meet changing requirements and implement new standards such as Payment Card Industry Data Security Standard (PCI-DSS). and comply with Saudi Payments Network 2 (SPAN2) processing regulations.
SHB will also deploy S1's CardWizard solution, which will handle card management, instant issuance and PIN selection at the branch level.
Rushdi Duqah, general manager, 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."