Clear2Pay acquires financial technology firm Diagram EDI
Clear2Pay, the international technology provider of next generation payment solutions for financial institutions has acquired Diagram EDI (F), an internationally operating e-banking and payment solutions provider.
Since its inception in 1986 Diagram has been engaged in the electronic banking field; currently providing a range of end-to-end internet banking solutions for both retail and corporate banking environments. Its multi-channel e-Banking suite can easily be integrated with existing legacy products and infrastructures within a financial institution. Through its offices in France, Algeria and Egypt and a network of partners and affiliates the company has implemented projects in over 50 countries. Clients include BNP Paribas, Societé Generale, BCI, Crédit Agricole, Deutsche Bank, HSBC, Banque Centrale Populaire (BCP), etc.
Michel Akkermans, Chairman and CEO of Clear2Pay, states: “Clear2Pay’s core strategy is offering an end-to-end payments transaction environment. This means that we start at the very first point of customer interaction, often the internet banking application. The Diagram product suite complements our Netbank product (acquired through EFT in October 2005), and the functionality of both will be integrated in our Open Payment Framework environment. This way we offer the best of both worlds: rich functionality in a SOA-based technology environment, which is the chosen strategy by financial institutions around the world. The fact that Diagram is based in France is of equal importance, since we see an increased level of activity in that region and language domain.
Hervé Bouvattier, Chairman at Diagram states: “It has always been our intention to both develop niche technology as well as secure a fast growth rate. We are therefore very pleased to join a larger, yet similarly focused group such as Clear2Pay. Our 30 members of staff are thus in a better position to both share their functional knowledge as well as embrace the very exciting services oriented technology strategy, which Clear2Pay is consistently building through its Open Payment Framework (OPF). Also the synergy in terms of regional focus in both France and the Magreb countries gives both companies opportunities in the new integrated operations.”
Under the agreement, specifics of which will not be disclosed, Diagram becomes a wholly owned and integrated business unit of Clear2Pay.