Brokat has signed a third party software distribution agreement with Compaq targeting the top 100 North American financial institutions.
The deal, which covers Brokat's e-CMS corporate cash management application, is part of Brokat's strategic push into the US market. The Brokat solution will be sold as part of Compaq's NonStop Payment factory, a front-to-back-office set of hardware and software systems for the wholesale financial markets. Brokat's e-CMS will serve as the front end component of the solution. The applications will be bundled with Compaq's back-office wire system and will also be available on a stand-alone basis.
Under the agreement, Compaq will serve as the prime contractor and promote Brokat's applications as the corporate banking component for its entire NonStop Payment offering. Compaq will also provide level one support for the software applications it sells, and train a professional service staff to install and implement Brokat's software.
The new technology will be introduced and demonstrated in the Compaq booth at the Sibos correspondent banking tradeshow in San Francisco September 11 - 15.