FSS - Financial Software & Systems, a provider in payments technology and transaction processing, today announced the signing of an exclusive System Integrator (SI) agreement with Montran Corporation for the Indian market.
This agreement with Montran will now enable FSS to provide customized solutions that will address the Wholesale Payments needs of the Banking industry in the country.
FSS has spearheaded the growth of retail & whole sale payments in India by serving banks, financial institutions, merchants, governments and other verticals through a rich portfolio of payments products and services.
The Integrated Payments Hub solution that FSS is bringing along with Montran will assist the Banks to strengthen their multi-channel strategy with less impact on their host systems for regulatory changes.
FSS partnered with Montran a year ago, to establish an Integrated Payments Hub solution for a large public sector bank, which was completed successfully. Through this agreement, FSS has now strengthened its relationship with Montran and will bring compact payment ecosystems for the Banks initially in India and later across the globe.
Commenting on the partnership with Montran, Mr. Nagaraj Mylandla, Managing Director, FSS, said “Our partnership with Montran is highly strategic in nature. We are leaders in the Retail Payments and Montran brings invincible knowledge and global best practices in the Wholesale Payments space. As a one-stop solution provider, FSS can now assist Banks realize their vision of streamlining and consolidating payments and aid them to increase operational efficiency, optimize resources and enhance customer experience.”
Montran is the world leader in designing and implementing cost-effective, comprehensive Payment, Clearing and Settlement systems with over 100 installations throughout the world, including Market Infrastructure and Payment Systems in some of the world's foremost institutions.
The collaboration between FSS and Montran will bring the most advanced payments technology to the Banks in the country and help them to be at par with the Global Banks. The technologically advanced Integrated Payments Hub solution will be offered to the Banks in both hosted and licensed models. With this partnership FSS can facilitate building a robust and centralized payments eco-system that is advanced and world-class for the Banks in the country.
Speaking on the partnership with FSS, Mr. Charles Walsh, Director, Montran Corporation said, “This partnership has given an opportunity for two payments solutions leaders to collaborate and provide best-in class technological solutions for the Banking industry. Banks will benefit from our synergy, as we bring to the table FSS’s in-depth knowledge and Montran’s global expertise to provide a comprehensive payment eco-system that comprises of both retail and wholesale solutions.”
The rapidly growing FSS clientele includes over 100 leading global banks as well as some of the world’s largest processors and retailers. In India, the FSS domestic client portfolio includes over 35 banks – featuring the majority of public and private sector banks in the country. Internationally, over 70 banks, financial institutions, processors and prepaid card issuers are customers of FSS.