updated 11/9/2010 9:16:06 AM ET 2010-11-09T14:16:06

JERSEY CITY, N.J., Nov. 9, 2010 (GLOBE NEWSWIRE) -- Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, announced that it has signed three bank clients for its recently announced North American Swift ServiceBureau. Those banks are: Investors Savings Bank, Cathay Bank, and Manufacturers Banks. Investors Savings' system is currently live.

In April of this year Fundtech expanded its SWIFT ServiceBureau into North America, making its full line of financial messaging and value-added services available to US financial institutions and corporations. This expansion builds upon Fundtech's leadership as the world's largest SWIFT service bureau through its European operations centered in Zurich and London, where the company supports hundreds of clients.

According to Adrian Danescu, Executive Vice President and Chief Information Officer of Manufacturers Bank: "Based on our 15 years of experience with Fundtech we are happy to expand our partnership to include Swift ServiceBureau services. With this we can continue to focus on providing innovative cash management solutions to our clients and maintaining a leadership position in our market."

A confluence of market forces is driving demand for the Swift service bureau. In part, a bank's interest is driven by a desire to reduce cost of operation by outsourcing; yet on the other hand, many small to mid-size banks are seeing an increase in demand for foreign transactions among their small business customers due to the increase globalization of business.

About Fundtech

Fundtech (Nasdaq:FNDT), was founded in 1993, and is a leading provider of software and services to banks of all sizes around the world. Payments systems include wire transfers, ACH origination, cross-border payments and remittance. Cash management systems are designed for large corporate through small business clients. Fundtech operates the world's largest SWIFT service bureau. We offer an extensive line of financial supply chain applications including electronic invoice presentment and supply chain financing. And we are the leading provider of CLS systems to the world's largest banks. More than 1,000 clients throughout the world rely on Fundtech solutions to improve operational efficiency and provide greater competitiveness through innovative business-to-business services. For more information, visit www.fundtech.com.

Forward Looking Statements:

This news release contains forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, projections of revenues, income or loss, capital expenditures, plans for growth and future operations, competition and regulation. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted or quantified. When used in this Release, the words, "estimates," "expects," "anticipates," "believes," "plans," "intends," and variations of such words and similar expressions are intended to identify forward-looking statements that involve risks and uncertainties. Future events and actual results could differ materially from those set forth in, contemplated by or underlying the forward-looking statements. The factors that could cause actual results to differ materially from those discussed or identified from time to time in Fundtech's public filings, including its Annual Report on Form 20-F for the year ended December 31, 2009, including general economic and market conditions, changes in regulations and taxes and changes in competition in pricing environment. Undue reliance should not be placed on these forward-looking statements, which are applicable only as of the date hereof. Fundtech undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances that arise after the date of this Release or to reflect the occurrence of unanticipated events.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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