FSS to implement Montran Corp payment solutions in India

Payments technology and transaction processing major Financial Software & Systems (FSS) has signed up with the US-based Montran Corporation to be the latter's exclusive systems integrator in India, FSS said.

In a statement issued here on Monday, the Rs.6.9 billion revenue FSS said: "This agreement with Montran will now enable FSS to provide customized solutions that will address the Wholesale Payments needs of the Banking industry in the country."

FSS has spearheaded the growth of retail and whole sale payments in India by serving banks, financial institutions, merchants, governments and other verticals through a rich portfolio of payments products and services.

The Integrated Payments Hub solution that FSS is bringing along with Montran will assist the Banks to strengthen their multi-channel strategy with less impact on their host systems for regulatory changes.

FSS partnered with Montran a year ago to establish an Integrated Payments Hub solution for a large public sector bank, which was completed successfully.

"Our partnership with Montran is highly strategic in nature. We are leaders in the Retail Payments and Montran brings invincible knowledge and global best practices in the Wholesale Payments space," Nagaraj Mylandla, managing director, FSS, was quoted as saying in the statement.

"As a one-stop solution provider, FSS can now assist Banks realize their vision of streamlining and consolidating payments and aid them to increase operational efficiency, optimize resources and enhance customer experience," the statement added.