Financial software solutions company Cor Systems has acquired IBS Global, an Internet banking and e-business vendor established by former BP Amoco and Barclays Bank technology executive Mark Hipperson.
IBS Global has developed Bank in a Box, a software solution built from a repository of Enterprise JavaBean components and designed for banks to rapidly deploy an Internet banking service to both corporate and personal customers. For corporate customers, high value payments can be made over the Internet, incorporating non-repudiation software and Public Key Infrastructure (PKI) security built to the Identrus standard.
Mark Hipperson, managing director, IBS Global, comments: "With the support of COR Systems we can expand more rapidly concentrating on developing strategic partnerships with major systems integrators and global consulting firms."
Under the terms of the agreement, London-based IBS Global will operate as a division of COR Systems, which specialises in technology for handling retail investment products.