IBM, S1 Broaden Alliance
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S1 Corp. (Nasdaq: SONE) and IBM (NYSE: IBM) today expanded an alliance that delivers S1's eFinance solutions using IBM hardware, integration software, services and consulting, enabling financial institutions to offer customers Internet-based financial services.
Through the extended agreement, IBM's global sales teams will promote S1 applications for consumer eFinance, including online banking and retail brokerage, to mutual customers and prospects. The two companies will integrate S1's Consumer Suite of eFinance applications with IBM's pSeries eServer, WebSphere infrastructure software and DB2 Universal Database. IBM will also provide consulting, customization and integration services.
The addition of S1's Consumer Suite builds upon a strategic alliance formed in April 2000, which focused on S1's Corporate Suite of applications, a solution that enables banks to offer their corporate clients a wide range of online cash and asset management services.
"Financial institutions are in a great position to make the most of e-business," said Mark Greene, general manager, IBM Global Banking Industry. "With the broad acceptance of online financial services, banks can now leverage their assets to provide a highly customized level of service to increase customer retention and drive additional revenues."
The strategic alliance is a global contract that gives Atlanta-based S1 premier partner status within IBM PartnerWorld for Developers and allows IBM to jointly sell, market, and further integrate the S1 product set. The alliance covers joint marketing programs, cooperative funding, performance benchmarking, as well as continued product integration.
Under the PartnerWorld for Developers program, IBM has signed agreements with companies like Siebel Systems, Vignette and PeopleSoft. These alliances target industries such as financial services, retail, manufacturing and solution segments including ERP, supply chain management, CRM and business intelligence. The goal is to provide developers with access to new customers and revenue opportunities through IBM's marketing, sales and solutions resources. In return, developers commit to lead with IBM's middleware, server platforms and services.