23 May 2018
https://aciworldwide.webex.com

IMS enters reseller agreement with ICICI Infotech

05 December 2001  |  1373 views  |  0 IMS enters reseller agreement with ICICI Infotech

India's ICICI Infotech has signed a distribution agreement with IMS System Co. for its Newton core banking software.

Under the agreement, ICICI Infotech will become the exclusive distributor for Newton in India and Sri Lanka with non-exclusive rights and cooperation in other countries.

P. Radhakrishna, joint president of ICICI Infotech, says: "We identified core banking as a strategic gap in our solutions portfolio. This agreement with IMS enables us to offer a proven, modern, massively scalable, 24/7 core banking system to our customers".

According to Ian Thompson, marketing director at IMS, recent benchmarks have shown the Newton processing transactions at a rate of 38 million transactions per day (TPD).

Radhakrishna continues: "We wanted a system that offered scalability but also ran on Unix boxes with standard Oracle and Tuxedo. We saw Newton running at sites with millions of transactions, in a distributed regional network, with central network monitoring, all transactions nationwide processing in real time, and end of day processing taking less than an hour."

The deal is an extension of an informal partnership spanning recent months. The two companies are also exploring other joint initiatives including using ICICI Infotech resources in India on IMS projects worldwide and promoting ICICI Infotech products and services through IMS's channels in North Asia (Korea, Japan, Taiwan, People's Republic of China).

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Infosys and ICICI partner for B2B fulfilment

Infosys and ICICI partner for B2B fulfilment

19 November 2001  |  2604 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.com/news/mobile-firstVisit response.ncr.comVisit aciworldwide.webex.com

Top topics

Most viewed Most shared
PayPal agrees $2.2 billion deal for iZettlePayPal agrees $2.2 billion deal for iZettl...
9890 views comments | 16 tweets | 28 linkedin
BBVA begins global roll-out of unified mobile appBBVA begins global roll-out of unified mob...
8710 views comments | 6 tweets | 5 linkedin
Japanese banks join quantum computing hubJapanese banks join quantum computing hub
7365 views comments | 8 tweets | 5 linkedin
SEC lures wannabe crypto investors with fake ICO siteSEC lures wannabe crypto investors with fa...
6880 views comments | 7 tweets | 11 linkedin
Fed governor: Digital tokens for financial settlement hold promise for central banksFed governor: Digital tokens for financial...
6587 views comments | 7 tweets | 11 linkedin

Featured job

Find your next job