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Standard Bank Takes Software Stake

Standard Bank London has acquired a 5% stake in Ireland’s International Financial Systems (IFS), developer of global collateralised and Internet trading systems. In June 1999, Intel Corp and Deutsche Bank acquired a joint strategic stake of 14% in IFS.

“As one of the leading financial institutions in London, Standard Bank is constantly looking at new technologies to improve services to our clients. IFS is one of the pioneers of banking technology and we have taken this stake because we believe their development plans make them a very exciting company to work with for the future,” says Philip Scott, new technology strategist at Standard Bank London

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