Wall Street Systems (Wallstreet) has signed an agreement to acquire the assets of Aleri Global Banking (AGB), the wholesale banking division of Aleri. AGB has more than 25 years heritage in providing transaction processing infrastructure to many large global banks. AGB’s solutions account for more than US$10 trillion in transactions per month. Wallstreet solutions also have the capacity to handle high volumes, with its banking solutions processing up to half a million transactions valued at over US$2 trillion each day. Terms of the transaction were not disclosed. The transaction is anticipated to be completed by the end of May and the integration is expected to be completed by the end of the year.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
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