Oct 08, 2013
October 2nd 2013 - Path Solutions, the market leading provider of Islamic banking software systems and S2M, one of the leading players in developing and implementing payment solutions are pleased to announce that they have entered into an alliance for the provision of S2M's extensive set of ready-to-use payment software - SELECT System® in order to meet quickly and cost-effectively evolving industry and client needs.
Under the terms of the agreement S2M will complement Path Solutions' iMAL suite of products with SELECT System® which combines both a Switch (front office) and a Card Management System (back office). The system will enable processing a variety of financial transactions and authorizations originated from POSs, ATMs, Mobile, Internet, and branches.
The UNIXT and OracleT based SELECT System® is designed to maximize the flexibility and efficiency of financial institutions involved in the card industry. S2M's SELECT System® is compliant with the most adopted payment standards such as ISO 8583 & EMV and certified by prestigious card giants such as VISA, MasterCard and American Express.
Dourria Mehyo, SVP Product Management, Path Solutions said: "2013 will see the continuation of our strategy and commitment of staying at the forefront of technological advancement by empowering our clients with top-of-breed technologies to enhance their banking experience. Our alliance with S2M enables us to deliver a more comprehensive offering to clients. The SELECT System® offers an optimum flexibility by providing various independent and integrated modules for both acquirers and issuers' banks. We believe that this alliance will bring benefits to both new and existing Path Solutions' clients".
S2M's SELECT System® is utilized at large financial institutions like BNP Paribas subsidiaries in Morocco, Algeria & Tunisia, Crédit du Maroc (Crédit Agricole Group) - Morocco, Cairo Amman Bank - Jordan, EMP - Jordan, MEPS - Jordan, Gulf Bank - Kuwait, and others. Some of them are Path Solutions' clients and using the software in their live operations such as the Arab Islamic Bank - Palestine, Bank Al Baraka - Sudan and Cihan Bank - Iraq.
Re-disseminated by The Asian Banker