ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, and Financial Software & Systems Private Limited (FSS), a leader in payments technology and transaction processing, offering a diversified portfolio of software products, hosted payment services and software services, announced that the two companies have amicably resolved their differences and disputes related to the use of ACI's Products (more specifically BASE24 software) by way of a settlement agreement dated 30 June, 2018 ("Settlement Agreement").
Under the terms of this settlement, FSS and its affiliates are entitled to continue to provide FSS' existing customers with services such as customization, implementation, and testing (including services using ACI's BASE24 software) ("FSS Services") until 30 June, 2020. FSS and its affiliates may also provide FSS Services to new customers that are not currently availing services from FSS, subject to the terms of the Settlement Agreement.
"Since our inception - more than 40 years ago - we have been singularly committed to the long-term success of our customers. More than 1,000 financial institutions globally trust ACI to power their mission critical payment systems," said Craig Saks, COO, ACI Worldwide. "We are pleased by the resolution of the ACI and FSS dispute, and we look forward to working with customers to ensure that they continue to be successful with BASE24 technology going forward."
"We are happy to have come to a positive resolution with ACI. We believe that this resolution will benefit customers as they can continue to use the domain expertise of FSS and leverage FSS capability to support ACI's BASE24," said Nagaraj Mylandla, Chairman & Managing Director, FSS.
No comments:
Post a Comment