London and New York, 05 December 2008, - ACE Software Solutions (www.acesw.com), provider of intelligent payment and STP solutions for the financial sector today announced that it has been named winner of the 2009 Financiali Leaders in Innovation Award for Payment Processing.

The Leaders in Innovation awards recognize those banks, software and hardware vendors that are shaping the delivery of business solutions in wholesale transaction banking, as companies are increasingly seeking out tools that are cost effective, help solve common business problems, are less timing consuming and costly to implement whilst enhancing overall efficiency and the facilitation of bank to bank and bank to customer communications.

The awards identified innovative leaders across wholesale transaction banking for securities and services, treasury and FX, network services, data management and risk management. The advisory panel* included well-respected analysts and thought leaders who were looking to recognize those companies that demonstrate an ongoing commitment to innovation.

“It is very gratifying to be recognized by an independent group of industry analysts and associated organizations with this award for innovation” commented Parth Desai, CEO of ACE Software Solutions. “ACE’s philosophy is driven by questioning why payment processing systems should only come in one shape and size when every organization’s needs and budgets are different. This award recognizes ACE’s ability to address the sea change currently underway in payment processing. Driven by tough economic conditions, increased competition and complex regulation, banks no longer want all-or-nothing, big bang payment solutions. Instead, in the real world they want a flexible option to build in a step-by-step manner to gain quick wins to achieve an end-to-end payment system. We are delighted that our 2nd generation payment processing efforts have been recognized in this way.”

ACE’s PELICAN™ platform enhances and adds value to existing Domestic, European and International payments systems. It is an end-to-end intelligent messaging platform that can handle processing of Inward and Outward messages and transactions in a straight through processing mode. It can capture, repair, format and route all transactions and manage connectivity with back office and clearing systems. There are a number of components that have been specially designed to meet specific industry requirements including SEPA and the technology is now deployed by a number of financial institutions across the globe.