Financial Software & Systems (FSS), a provider of payments technology and transaction processing, has entered into an agreement with Montran under which FSS will act as the latter’s exclusive system integrator in the Indian market.
Under the deal, FSS will provide customized solutions that will address the wholesale payments needs of the banking industry in the country.
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FSS has already teamed up with Montran in 2015 to establish an integrated payments hub solution for a large public sector bank in India.
The Integrated Payments Hub solution will help the banks to strengthen their multi-channel strategy with less impact on their host systems for regulatory changes. It will be offered to the banks in both hosted and licensed models.
The agreement will bring compact payment ecosystems for the banks initially in India and later globally.
FSS managing director Nagaraj Mylandla said: "Our partnership with Montran is highly strategic in nature. 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."
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