One Equity Partners acquire ACI’s corporate online banking solutions
Private equity firm, One Equity Partners have announced that they have agreed to acquire ACI’s corporate online banking solutions which is an API-driven solution for the banking industry, from ACI Worldwide.
After the completion of the acquisition, the entity will operate independently under the new name, Dragonfly Financial Technologies. As noted, ACI Digital Business Banking Solutions enables blue-chip banks worldwide to process over $1 billion in daily payments and the technology is deployed on-premise or cloud-based which lets corporate banking clients initiate payments, collect money owed, and manage financial positions and operations.
“We see significant opportunity in this market, as banks continue to invest more in digital transformation”, said Chip Schorr, Senior Managing Director, One Equity Partners.
Earlier this year, ACI Worldwide connected national banks in the UAE region with UAE’s real-time payments.
The equity firm notes that the “U.S. online commercial banking sector is experiencing tailwinds, including corporations’ increased demand for API-driven automated digital banking and treasury management solutions”, and the banks are adopting IT ecosystems for minimizing costs, and leverage API-based integration and enable interoperability across vendors.
One Equity Firm is a private equity firm investing and managing companies in various sectors such as industrial, healthcare, and technology sectors in North America and Europe while ACI’s corporate online banking is touted to be the digital banking solution for cash management services.