News

IntraNet grows in Asia-Pacific market

April 17, 2005

NEWTON, Mass. - IntraNet Worldwide, an international and domestic financial-messaging and payment-processing company, inked a distributorship agreement with India-based Financial Software & Systems Ltd., according to a news release.

The partnership allows IntraNet Worldwide to offer its product line to FIs in India. The agreement also expands IntraNet's Asia-Pacific presence, which already includes customers in Australia, New Zealand and Thailand.

"By asset size, 18 percent of the world's top 100 banks are headquartered in the Asia-Pacific region and the financial services industry in this area continues to grow at an exponential rate," said Paul D. Morris, senior vice president of IntraNet Worldwide. "Our agreement with FSS will enable us to bring our leading financial messaging and payment processing solutions to banks in Mumbai and other regional centers including New Delhi, Calcutta, Chennai, Hyderabad and Bangalore."

The arrangement complements existing relationships between FSS and IntraNet's two sister companies, ACI Worldwide and Insession Technologies.

Nagaraj Mylandla, managing director at FSS, said IntraNet will help FSS offer wholesale high-value payments. "We look forward to partnering with IntraNet to leverage our strong presence in the retail/consumer banking payments set."