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November 22, 2005

BancTec acquires SDS Applications

BancTec Limited, the financial systems and outsourcing specialist, has acquired UK mortgage and trading systems company, SDS Applications Limited, for an undisclosed sum.

By CBR Staff Writer

Integrating SDS Applications’ browser-based software into its eFIRST product suite, BancTec hopes to accelerate product development. It will target its global customer base with the mortgage processing and derivative trading products, as well as opening SDS Applications’ customer base to the BancTec eFIRST product suite.

Steve Downey, chief operating officer of BancTec UK and Ireland said, SDS Applications’ software product suite is a natural extension to our eFIRST product suite, and the combination will allow BancTec to deliver cost-saving solutions across the financial services market, especially in areas such as mortgages, insurance and consumer loans.

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