The iMTS application will serve as the hub for the bank’s wholesale payments system, with the intention of developing a single platform that will standardize and centralize its payments capabilities.
The Union Bank of California (UBOC) also hopes to utilize iMTS to fully integrate its accounting, deposit and cash management components internally.
In addition, said IntraNet, the software will enable the bank to expand its wholesale payments business and clearing capabilities. It will also provide value-added capabilities such as external clearing capacity for other banks.
The new agreement builds upon the existing relationship between the two firms which began in 1986 and follows UBOC’s successful migration to IntraNet’s new Unix AIX-based platform for iMTS.
