Indian software house i-flex solutions and New Jersey-based Fundtech, both of which supply applications to the payments industry, have signed a marketing agreement that aims to offer a “total payment solution” to banks.
The agreement formalizes a working relationship that the companies have had for nearly five years while collaborating on complex payment system projects at a variety of banks. The agreement will enable customers to buy Fundtech’s Global PAYplus payments system with i-flex’s PrimeSourcing professional services.
“We have worked alongside i-flex for many years and we are delighted to formalize our relationship,” says Reuven Ben Menachem, CEO of Fundtech. “Our agreement with i-flex greatly expands our ability to successfully market and deliver Global PAYplus throughout the world because our partner can offer high-quality services and real-world implementation experience on a global scale.”
I-flex has more than 4,000 IT and financial services staff available to help banks with system integration, architecture design and analysis, interface development, integration, implementation and maintenance services. Global PAYplus, on the other hand, is a web-based payment system.
“Payments is a strategic requirement for financial institutions and upgrading systems in this space has been extremely costly and fraught with project risk,” says R. Ravisankar, Chief Executive Officer, International Operations, i-flex solutions. “By combining Fundtech’s Global PAYplus solution with i-flex’s system integration expertise, we provide the world’s leading financial institutions with a best-of-breed system and the capability to implement, enhance and support it professionally.”