The banking technology vendor S1 Corp. said it has divided itself into three business units, each focused on a specific product line.
The S1 Enterprise unit focuses on its Enterprise product line, which includes Internet banking and software for other channels. Enterprise products can communicate customer information to one another across channels.
The S1 Postilion unit processes payments for self-service transactions at automated teller machines and point of sale terminals. The Full Service Banking Solutions unit offers products for lending and branch automation.
"These divisions will have greater control over resources and greater accountability, ensuring that we continue to improve the effectiveness and the efficiency of the business in the future," Johann Dreyer, S1's chief executive, said in a press release issued Tuesday.
The decision to split the company into these segments follows up on remarks Mr. Dreyer made when he became CEO in November.
At the time, Mr. Dreyer, who was previously a group president in the Postilion payment processing business, said the company was so focused on its Enterprise products that "I'm not sure that everybody knows that we have an ATM product or that we have a voice banking product for community financial systems."
Mr. Dreyer took over as CEO from James S. "Chip" Mahan 3rd, the Atlanta company's founder, who left in October.
