Intertec Systems signs partnership agreement with ACE Software Solutions

As a partner, Intertec will now be able to provide ACE's sophisticated payment and anti-money laundering solutions to financial institutions in the region.

ACE Software Solutions is a provider of intelligent payment, anti-money laundering (AML) and straight through processing (STP) solutions for the financial industry. Its clientele includes BNP Paribas, Credit Agricole, Credit Suisse, RBC Dexia, State Bank of India and Standard Chartered.

Commenting on the partnership with ACE, Mr. Naresh Kothari, Managing Director, Intertec Systems said:

"We are pleased to be associated with ACE Software Solutions. Over the last sixteen years, we have been able to build an impressive list of clients, including many in the financial industry. It is our understanding that there is a definite demand for payment and AML solutions in the region and we see a huge scope for ACE's solutions here."

He added: "We are certain that our new partnership with ACE will be a mutually beneficial one."

Financial institutions have increasing demands for flexible and sophisticated payment capabilities which adhere to the stringent need for regulatory compliance. To compete on the world stage, it is vital that organisations comply with global standards. ACE Software offers a range of specially designed payment solutions for Banks and Corporates based on their PELICAN™ platform. Each element of the PELICAN solution suite solves a current pressing need in the market whilst providing a platform that can accommodate changes in the payments landscape, whether from industry or regulatory initiatives.

In addition the ACE AML Toolkit allows for effective Anti-Money Laundering, using sophisticated fraud and compliance message filtering. It checks transactions against official sanction lists such as United States' Office of Foreign Assets Control and United Nations to identify suspicious or illegal activity. The system intelligently captures suspicious patterns in customer behaviour that may be part of an illegal activity.

Commenting on the partnership, Parth Desai, CEO, ACE Software Solutions, said: "The Middle East region is a growing market and it is evident that a local presence is essential for us to provide continual excellent customer service and support."

He added: "Working with Intertec will enable us to provide our users with the implementation and ongoing support to meet their needs."