ACE Software's Pelican(tm) Crosses the Rubicon for Banks to Retrieve Profit from Payment Processing Revolution

Sibos 2006, Sydney, Australia - 12 October 2006

- Abu Dhabi Commercial Bank latest signing

ACE Software Solutions, provider of fully integrated Straight Through Processing (STP) enabled payments and transaction processing solutions for the banking sector, has extended its Pelican(tm) product range to enable product managers more flexibility in building value-added payment solutions for their banking customers.

Steve Dickens COO of Abu Dhabi Commercial Bank said: "In considering a payments solution we were attracted to Pelican(tm) because it puts control in the hands of our business managers who need the tools to create new value-added payments options for our customers. As a fully tested suite of products, we have avoided extensive consultancy, guaranteeing delivery time and removing project risk."

"As their customers become more demanding we are increasingly seeing the need for some form of Intelligent "payments middleware" from banks throughout the world," says Parth Desai, ACE Software Solutions CEO. "Pelican(tm) allows banks to face these revolutionary changes such as SEPA, CHIPS and Faster Payments with confidence, and exploit them by building new payments products that benefit their customers."

Pelican(tm) is positioned to offer a range of solutions that respond to an increasingly complex and demanding transaction process. Beyond improving operational efficiencies, the suite of products allows banks to automatically route, repair, reformat and reconcile payments. Thus, banks can build back in value-added offerings specific to individual customers, creating new profit opportunities.

For example, as PELICAN can read any structured message intelligently, it can react to a specific payment request in the way that a customer has instructed, following whatever value-added rules that apply to different transactions.

As payment options become more and more complex, with competing banks offering a range of routes between counterparties like different classes of postage, customers will want to capitalise on these choices.

Abu Dhabi Commercial Bank has recently purchased ACE Software's Pelican(tm) and further announcements are expected shortly.

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