ACI to sell corporate banking tech to PE firm

ACI Worldwide has agreed to sell its corporate online banking technology to private equity firm One Equity Partners. Financial terms were not disclosed.

Marketed as ACI Digital Business Banking Solutions, the API-driven offering enables blue chip banks worldwide to process over $1 billion in daily payments.

The technology, deployed on-premise or cloud-based, lets corporate banking customers initiate payments, collect money owed, and manage financial positions and operations.

The business will operate independently under the new name Dragonfly Financial Technologies and be led by ACI's current chief administrative officer Johan Roets.

Says Roets: “Banking is becoming more technologically complex and requires functionality across multiple corporate IT structures and industry vendors. It is an ideal environment to drive growth for the new company.”