FIS offloads Ambit biz to New Access Banking Software

Source: New Access Banking Software

New Access Banking Software, a global provider of critical front-office software solutions to the private banking industry, announced today the acquisition of the Ambit Private Banking business from FIS.

The Ambit Private Banking business, provides a comprehensive suite of software solutions, including Apsys and CIM, designed to help Swiss and international private banks to build a strong competitive advantage. The solution suite includes core banking, client management, analysis and control, market management, fund accounting and alternative investments solutions.

New Access, which is headquartered in Geneva, Switzerland, provides front-office solutions to private banks, including a portfolio management system, a document management system, and a customer relationship management system. "The acquisition of the Ambit Private Banking solution will reinforce New Access’ global presence in the private banking software industry. New Access will be able to offer a highly competitive front-to-back office software solution allowing private banks to cover the entire functional coverage with only one provider. This integrated solution is easy to implement and maintain, cost effective compared to outsourcing providers, and will allow banks to retain full control over their back-office operations," declared Alexis Sikorsky, founder and CEO of New Access.

This transaction will create significant commercial synergies between New Access and Ambit Private Banking solutions. It will also allow the group to further invest in R&D to develop software solutions adapted to the private banking market shaped by disruptive technologies, and tightening regulatory requirements. "New Access’ solutions are aimed at turning these challenges into opportunities, and getting tangible benefits for their customers," said Vitus Rotzer, General Manager of the Ambit Private Banking business, who becomes Managing Director responsible for business development of the combined group. “We are confident the addition of the Ambit Private Banking solution will benefit customers of both businesses through an enriched product and services offering, while bringing a comprehensive, integrated solution to the private banking market.” 

Comments: (2)

Melvin Haskins
Melvin Haskins - Haston International Limited - 13 April, 2017, 07:17Be the first to give this comment the thumbs up 0 likes

I am confused by this announcement. System Access, a Singaporean provider of banking back office systems, was sold to Sungard for $120 million in 2006 and rebranded as Ambit. Just before Sungard was acquired by FIS it sold Ambit to Silverlake Axis for $12 million. So what is FIS selling?

A Finextra member
A Finextra member 13 April, 2017, 07:37Be the first to give this comment the thumbs up 0 likes

Sungard had a number of products using the Ambit brand, as you say, the core banking product set which used to be SYMBOLS was previously sold off. What has been sold now is what used to be called Apsys I believe...