Brokat Infosystems of Germany has announced the formation of a U.S. subsidiary to provide software to North American financial institutions.
Brokat Financial Services will concentrate on the development, marketing, and servicing of financial services systems using the Twister electronic services platform.
The initial thrust will be in corporate cash management and small-business banking.
Brokat, which recently acquired Atlanta-based Transaction Software Technologies Inc., will combine Twister with Transaction Software's's 15 years of cash management experience to offer secure next-generation cash management software.
Transaction Software is the nucleus of Brokat's U.S. venture, providing full-service cash management technology to eight of the 20 largest U.S. banks and more than 25 leading financial institutions throughout North America.
More than 2,000 organizations worldwide use Brokat's platform.