London, 15 March 2004 – Misys Wholesale Banking Systems (Misys) and S1 Corporation (S1) today announce a new five-year distribution agreement. Under the terms of the agreement, Misys will distribute and implement S1’s Enterprise retail, cash management and trade finance solutions throughout Europe, Africa, Middle East and Asia.

The agreement gives Misys the distribution rights to the S1 Corporate Banking, S1 Personal Banking and S1 Trade Finance applications integrated on the S1 Enterprise Platform. This unique integrated platform will provide Misys with a single environment in which to build a cohesive range of multi-channel solutions for wholesale banks. Propositions to banks will include superior web-based cash management solutions and trade finance capabilities that will enable them to better serve their corporate and SME/personal customers.

 

Misys will provide appropriate migration paths for each of its existing ebanking products, as well as packaged interfaces from core Misys systems (such as Midas and Trade Innovation) to the S1 Enterprise solutions. Customers will benefit from a single, J2EE-based multi-channel solution that will increase revenue opportunities, reduce operational costs and improve customer retention.

 

For S1, one of the leading suppliers of integrated front-end solutions for financial institutions, the relationship is an opportunity to extend its worldwide distribution channels and leverage Misys’ established services capabilities. The combined expertise of these two organisations will provide their customers with a single source for all their global front and back-office needs.

 

Jerry Luckett, Director of Product & Strategy at Misys Wholesale Banking Systems, believes that the agreement is representative of current market trends: “As R&D budgets continue to rise, there is an implicit need for software vendors to consolidate their core skills. At the same time, the increasing globalisation of banks’ customer bases creates a need to build more customer-aware solutions. This agreement demonstrates the commitment of both Misys and S1 to provide customers with the most functionally rich multi-channel solutions available.”

 

Jaime Ellertson, chief executive officer, S1 Corporation, said: “This strategic relationship gives us validation, from one of the world’s premier financial software providers, that our integrated multi-channel applications are the solution of choice for the global market. With Misys’ extensive sales and services infrastructure, S1 is able to triple its global presence overnight.”

 

Ivan Martin, chief executive, Misys Banking & Securities Division, said: “Our agreement with S1 represents an exciting step forward for Misys. We identified the front-office space as a key growth area for banking. S1 will enable us to capitalise on this growth opportunity by instantly delivering a suite of fully integrated, multi-channel solutions. With our complementary technology strategies and geographical cover, I believe that this relationship will produce a world-beating combination.

 

Sara Toal / Adelaide Harrison

Write Image for Misys

+44 (0)20 7959 5400
sara@write-image.co.uk / adelaide.harrison@write-image.co.uk

 

Andy Coulter

Head of Marketing & Business Planning

Misys Wholesale Banking Systems

+44 (0)20 8486 1772

 

Brian Gendron
SHIFT Communications for S1 Corporation

617/681-1248

 

Matthew Hale

Chief Financial Officer, S1 Corporation

404.923.3500
matt.hale@s1.com

Misys Wholesale Banking Systems is a trusted provider of innovative technology solutions: over 1,000 employees in 30 offices around the world have built up the domain expertise to deliver world-class solutions with an understanding of local requirements. Misys Wholesale Banking Systems' staff are committed to developing and supporting a product family that embraces trade finance, international banking, treasury & capital markets, confirmation matching, continuous linked settlement (CLS), ebanking, middleware and financial messaging.

 

Misys Wholesale Banking Systems is part of Misys plc’s Banking & Securities Division, which serves over 1,200 customers across more than 120 countries, including 92% of the world's top 50 banks and 56% of the top 250. (Source: The Banker, July 2003).

 

Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK retail financial services sectors. The group partners with its customers to deliver outstanding IT solutions to essential industries. For the year ended May 31, 2003, Misys reported revenues in excess of $1.5 billion. Misys employs more than 6,000 people internationally.

 

S1 Corporation is a leading global provider to more than 4,000 banks, investment firms and insurance providers of enterprise software solutions that gives financial services providers one view of their customers.  Comprised of applications that address virtually every market segment and delivery channel, S1 solutions help you integrate and optimise your entire front office, resulting in dramatic operational efficiencies, increased revenue opportunities, and overall customer satisfaction.

 

S1 customers range from small banks to top 10 global financial services organisations. This list of premiere institutions includes companies such as ABN AMRO, AGF, Alliance & Leicester, Allianz Group, ANZ, Banamex, Bank One, Bank of America, Bank of Tokyo-Mitsubishi, BHW Bausparkasse, BUPA, Comerica, Dah Sing Bank, FleetBoston, KBC, GE Financial Assurance, Maybank, Principal Bank, Regions Financial Corporation, Scotiabank, Siam Commercial Bank, Swiss RE, Synovus, Wells Fargo and Yapi Credi Bank.

 

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.