S1 Corporation (Nasdaq:SONE), a leading global provider of eFinance solutions and services, and Aether Systems, Inc. (Nasdaq:AETH), the leading provider of wireless data products and services, today announced that the companies have signed a multi-year, global agreement to jointly develop, integrate, deploy and support a suite of wireless data access and transaction services for financial services providers. In addition, S1 has signed a parallel agreement with SILA Communications, a company formed by Aether and Reuters Group to provide wireless data services in Europe and Asia.
Under the terms of the agreements, Aether and SILA will serve as the strategic worldwide providers of wireless software and enablement services to S1 and its subsidiaries, VerticalOne and Q UP. By partnering with Aether and SILA, S1 will be able to offer its 900 worldwide financial services customers the ability to extend their eFinance capabilities to a full range of wireless devices, including web-enabled phones, personal digital assistants (PDAs) and pagers. S1 customers will gain access to the network operations and data centers operated by Aether and SILA, which provide connectivity to the major wireless networks, application hosting and development and customer care. These features will be rolled out through the entire S1 product offering, with availability targeted for fourth quarter 2000.
S1 will become the preferred partner for Aether's Personal Commerce Portal, an offering from Aether and its corporate partners that provides a series of financial services and applications accessible via handheld wireless devices. Through this portal, users will be able to conduct a variety of financial transactions, including bill payments, person-to-person payments, point of sale transactions, on-line shopping and banking transactions, and gain access to other personalized financial information.
"As industry analysts have predicted, the demand for wireless access to financial services is rapidly increasing. By aligning with industry leaders like Aether and SILA, we are continuing to equip our customers with mobile eFinance solutions that enable them to capitalize on the opportunities that this trend affords, " said Chip Mahan, CEO of S1 Corporation. "Many solutions on the market today require financial services providers to negotiate and connect with all major carriers independently. Through this partnership, S1 customers will be able to deliver robust wireless services quickly and efficiently to meet the needs of their entire user base."
As a result of the agreement signed by S1 and Aether, S1 subsidiary VerticalOne will play a key role in the development of Aether's Personal Commerce Portal strategy by providing eFinance aggregation services, which allow a user to view a range of financial data at one time. The agreement is complementary to S1's subsidiary, Edify, which offers an on-premise wireless Internet solution to worldwide financial institutions, including ANZ Bank, Daiwa Bank, Bank of Greece and National InterBank (USA).
"Partnering with S1 strengthens our position as a leading provider of wireless products and services to the financial industry and provides us with access to S1's extensive client base of banking institutions worldwide. The agreement between S1 and SILA Communications ensures that this truly is a global deal," said David S. Oros, Chairman and CEO of Aether Systems and Chairman of SILA Communications. "Establishing a greater presence in the world of online financial services is part of Aether's vision of a personal commerce portal."
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