International Financial Systems (i-financial), the international banking software developer, and Spring Programs announce that they have signed a partnership agreement for the supply of each other's products to their respective customer base.
In the case of i-financial this means the SPRiNG Bank of England Reporting tool will be offered as a preferred regulatory reporting solution to new and existing customers. The SPRiNG reporting tool is designed to make regulatory reporting as fast and as simple as possible. It was the first system designed specifically to Bank of England standards, and during the 21 years since then it has evolved according to the needs of the banks.
Correspondingly Spring Programs will offer i-financial's ML Trac and iBank products. ML Trac is a compliance toolbox that records KYC information and also identifies suspicious account movements or payments. iBank is an internet banking solution that not only enhances i-financial’s BankWare offering but has also been deployed with other core banking solutions on a multitude of platforms.
Spring Programs has a long history of co-existing with legacy host systems and ML Trac and iBank are complementary to that.
Terry Day of i-financial said "The two companies have a long history of working together when interfacing our core banking product BankWare with their Bank of England Reporting tool. We are very much alike in-so-much-as both companies are still independently owned, we share the same business ethics. We have always found it easy when working together in the past”.
Jenkyn Kennedy of Spring Programs said "I believe this is a natural progression for both companies and offers great value to our respective customers. Over time we expect the integration between our products to be strengthened to give our mutual customers improved performance and better reporting.”