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 UNIX™ and Oracle™ 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.

About Path Solutions
Founded in 1992, Path Solutions is the world’s best-selling Islamic software house, specialized in the provision of integrated solutions and services to the Islamic financial marketplace. The company offers a wide range of Sharia based and IAS compliant integrated solutions covering Core Banking, Customer Universal Services, Investment and Private Equity, Treasury, Fund Management and Securities Trading system in the GCC and Global Capital Markets.

Services include Project Management and Business Consulting addressing the whole spectrum of the global finance industry and in specific the Islamic finance industry.

Path Solutions is dedicated to the satisfaction of its clients and employs leading edge technologies while guaranteeing reliable performance and levels of excellence in the quality and efficiency of its services.

The company has over 20 years of market experience using unrivalled software implementation expertise at forward-thinking Islamic banks and financial institutions. To date, Path serves more than 91 Islamic financial institutions in more than 28 countries worldwide. This strong market share is testament to its ability to maintain technology advantage. www.path-solutions.com

About S2M
S2M, a pioneer of the very first credit card applications in Morocco since 1983, profiled itself during the last thirty years as one of the leading players in developing and implementing payment solutions.

CMMI Level 4 certified since 2011, S2M proposes the most complete and reliable suite of products to the market:

• Switch & Card Management System solutions
• Smart card solutions
• Embedded applications on Mobile, POS, ATM & Kiosk
• Vertical solutions for petrol stations, hotels, salary cards
• Software development
• Implementation services
• Personalization of payment means: Bank and private label cards, cheques
• Outsourcing.

And also stands for a broad range of complementary services:

• Consulting
• Implementation
• Training
• Assistance
• Support and maintenance.

S2M has established an impressive international reputation and references in about thirty countries. More than 130 private and public banks rely on its cutting-edge solutions. www.s2m.ma

*This press release was published by Zawya.com. Read the original article here.