NORCROSS, Ga., May 7, 2010 (GLOBE NEWSWIRE) -- S1 Corporation (Nasdaq:SONE), a leading global provider of payments and financial services software solutions, today announced that Alaska Option, one of the leading master debit switches in the United States, has licensed the S1 Payments solution for its EFT switch and processing platform. Alaska Option selected the open-systems architecture from S1 to replace its current system which has been in place since 1998.
"After an extensive evaluation process, we selected the S1 Payments platform because it demonstrated that it could satisfy our requirements for reliability and scalability, provide cost savings and most importantly, allow Alaska Option to quickly and effectively roll-out new services to our customers," said John Shipe, Alaska Option President.
S1's Payments solutions for ATM and retail point-of-sale driving, card management, and merchant -acquiring are used by more than 325 customers in over 50 countries worldwide. With the latest success at Alaska Option, S1 will be replacing another legacy payments system with the flexible, open-systems architecture of its S1 Payments solution.
"We are very excited to be working with Alaska Option," said Johann Dreyer, Chief Executive Officer, S1 Corporation. "After carefully reviewing the competition, Alaska Option's decision to select the S1 Payments solution reinforces our proven, market position as a leader in open-systems platforms for financial services. The Alaska Option relationship represents continued momentum for S1 in replacing legacy payments systems around the world."
About Alaska Option
Alaska Option Services Corporation was founded in 1983 by financial institutions to provide shared electronic funds transfer (EFT) services to its member banks and credit unions. In 1986, Alaska Option initiated one of the first online debit card point of sale programs in the country. This program consistently ranks in the top ten nationally in terms of volume, with Alaska Option branded cards accepted at over 1.2 million merchant locations. Today, Alaska Option offers a full range of PIN-based debit processing, ATM driving and card personalization services to financial institutions throughout the U.S. For more information, log on to www.alaskaoption.com.
About S1 Corporation
Leading banks, credit unions, retailers, and processors need technology that adapts to the complex and challenging needs of their businesses. These organizations want solutions that can respond quickly to changes in the marketplace and help grow their businesses. For more than 20 years, S1 Corporation (Nasdaq:SONE) has been a leader in developing software products that offer flexibility and reliability. Over 3,000 organizations worldwide depend on S1 for payments, online banking, mobile banking, voice banking, branch banking and lending solutions that deliver a competitive advantage. More information is available at www.s1.com.
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.