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FSS partners with Montran to provide Wholesale Payments Solutions for Banks

Agreement to enable FSS to provide customised solutions that will address Wholesale Payment needs of banking industry

BS REPORTER  |  Chennai 

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FSS (Financial Software & Systems), a leading payments technology and transaction processing company, today announced the signing of an exclusive System Integrator (SI) agreement with Montran Corporation for the Indian market.

This agreement with Montran will enable FSS to provide customised solutions that will address the Wholesale Payment needs of the banking industry in the country, said the company.

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, said the company in a statement.

FSS had partnered with Montran a year ago to establish an Integrated Payments Hub solution for a large public sector bank. Through this agreement, FSS has now strengthened its relationship with Montran and will bring compact payment ecosystems for the Banks initially in India and later across the globe.

Nagaraj Mylandla, managing director, FSS commented that the partnership with Montran is strategic in nature. Montran brings knowledge and global best practices in the Wholesale Payments space. As a one-stop solution provider, FSS can now assist Banks realise their vision of streamlining and consolidating payments and aid them to increase operational efficiency, optimize resources and enhance customer experience.

Montran is one of the leading Payment, Clearing and Settlement systems globally with over 100 installations throughout the world, including Market Infrastructure and Payment Systems in some of the world's foremost institutions.

The collaboration between FSS and Montran will bring advanced payments technology to the Banks in the country and help them to be at par with the Global Banks, said in the release.

The solution will be offered to the Banks in both hosted and licensed models.

Charles Walsh, Director, Montran Corporation added that this partnership has given an opportunity for two payments solutions leaders to collaborate and provide technological

solutions for the Banking industry. “Banks will benefit from our synergy, as we bring to the table FSS's in-depth knowledge and Montran's global expertise to provide a comprehensive payment eco-system that comprises of both retail and wholesale solutions.”

First Published: Mon, January 11 2016. 13:44 IST