S1 Corporation Successfully Implements Internet-based Financial Applications At State Bank of Mauritius

Business Wire, Jan 18, 2000

Business/Technology Editors

ATLANTA--(BUSINESS WIRE)--Jan. 18, 2000

-- S1 Consumer Suite Enables State Bank of Mauritius to Address

Needs of Global Customer Base and Gain Competitive Advantage --

S1 Corporation, the leading provider of Internet-based solutions for the financial services industry (NASDAQ:SONE), today announced that State Bank of Mauritius Ltd. has successfully implemented its S1 Consumer Suite of applications. The leading bank in the Republic of Mauritius with 300,000 customers, State Bank of Mauritius has deployed the S1 Consumer Suite throughout its global reach that encompasses India and Madagascar. The bank has adopted the S1 Consumer Suite as part of its strategy to increase customer retention, generate additional revenue and gain competitive advantage. It has also leveraged the suite's core international support for the Mauritian, European, African and Indian markets.

Specifically, the S1 Consumer Suite is enabling the State Bank of Mauritius to offer customers a single, consolidated view of their complete financial portfolio, including checking, savings, CDs, loan and credit cards accounts. Customers can view account balances, pay bills, track transactions, transfer funds between linked accounts and set up categories for income and expenses 24 hours a day, seven days a week.

"As we move into new geographic markets and expand our service offerings, we are constantly seeking strategic partners that share our vision of an accessible and far-reaching financial service offering. We chose S1 because of its extensive experience within the banking industry, its unmatched technology, and its growing dominance within the industry," said Mr Reddy, Group Chief Executive, State Bank of Mauritius. "Our implementation of the S1 solution represents an important milestone as we continue to anticipate our customers' changing needs and adopt the latest technologies that will address those needs," added Eshan Amiran, head of the Internet Banking Project at State Bank of Mauritius.

"Due to the increasingly competitive nature of the market, State Bank of Mauritius was working within a restricted timeframe and turned to us for a rapid implementation of our solution," said Neil Roberts, Customer Engagements Manager, S1 Corporation, Asia Pacific. "State Bank of Mauritius' aggressive initiative to meet customers' needs reflects the type of organization with which we seek to partner - a growing financial institution that is executing on a long-term strategy of expanding and improving their users' financial worlds," added Charles W. Ogilvie, general manager for S1 Corporation.

About the S1 Consumer Suite

Formerly known as Virtual Financial Manager, S1 Consumer Suite is the company's most comprehensive suite of Internet-based applications. Version 5.1 also includes many additional capabilities, including bill presentment and personalized one-to-one marketing. Based on its proven, open architecture, the Consumer Suite can be further enhanced with other value-added products, such as insurance, tax preparation, financial planning tools and customizable content from key providers like Reuters, FinanCenter and Intuit.

S1 Consumer Suite is one of three product families that are available from S1 Corporation -- the other suites are the S1 Business Suite, formerly known as Edify's small business banking application, and the S1 Corporate Suite, formerly known as FICS Group's corporate Internet banking application. In November, S1 Corporation acquired Edify Corporation, FICS Group N.V. and VerticalOne Corporation, becoming the largest provider of Internet-based financial services solutions. By leveraging the strengths of all four organizations, S1 offers the world's most comprehensive and advanced solutions, including new leading-edge wireless capabilities that define the industry standard in real-world Internet-based financial services.

State Bank of Mauritius

Additional information about the State Bank of Mauritius is available at www.sbmonline.com.

About S1 Corporation

S1 (Nasdaq:SONE), the pioneer of Internet banking, is today's leading global provider of innovative Internet-based financial services solutions. S1 offers a broad range of applications that empower financial organizations to increase revenue, strengthen customer relationships and gain competitive advantage by meeting the evolving needs of their customers across various lines of business, market segments and delivery channels. Through its professional services organization, S1's applications can be implemented in-house or outsourced to the S1 Data Center. Additional information about S1 is available at http://www.s1.com.