SAN ANTONIO, Texas, Nov. 9, 2010 (GLOBE NEWSWIRE) -- AFP Conference -- Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, today announced that it has integrated the Fraud Analyst® Engine from Digital Resolve into its CASHplus cash management product to offer clients a new layer of protection in the fight against online fraud. Digital Resolve is a leading provider of online fraud detection and prevention solutions,
Digital Resolve's Fraud Analysis Engine takes a hybrid approach to fraud detection by combining predictive analytics with behavior analysis and account-specific rules that are easily tailored to the specific needs of individual clients. According to Digital Resolve, it can detect and act upon fraudulent activity in real time, and is currently providing up to a 90 percent reduction in fraud for the online channel by protecting users across every online session and touch point.
With the integration of the Fraud Analysis Engine with CASHplus, Fundtech clients will benefit from a solution that provides real-time alerts on suspicious activity as well as a robust suite of reporting, research analytics and forensics tools.
Rabobank is the first Fundtech client to have the Fraud Analysis Engine in production. According to Jeff Hall, Vice President and Senior Systems Manager, Rabobank: "Rabobank is committed to the safety and security of our customers' accounts and information, Part of that commitment is demonstrated through the strong measures we take to safeguard the online experience of our corporate customers. After performing extensive testing, Rabobank recently moved Digital Resolve's Fraud Analysis Engine security tool into production. As part of a layered security strategy, it has proven to be very easy to use while providing a valuable additional level of fraud detection."
"We're pleased to be working with Fundtech to offer its clients a new layer of protection against today's dynamic fraud attack vectors," said Bob Pavich, Vice President of Fraud Solutions, Digital Resolve. "By adding the Fraud Analysis Engine into its overall security model, Fundtech is providing clients full online-session protection that addresses a wide array of attack vectors including socially-engineered and malware-based attacks."
About Digital Resolve
Digital Resolve is committed to securing online identities, information, accounts and transactions against fraud and identity theft by developing solutions that provide 360 degrees protection for the online channel. The company's comprehensive online fraud detection and prevention solutions are helping financial institutions and enterprises of all sizes reduce online fraud by as much as 90 percent, delivering peace of mind that the online channel is safe and profitable. For more information visit www.digital-resolve.net.
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.
CONTACT: Metia Inc. Press Contact: (UK) Chanda Gathani +44 (0) 20 3100 3605 chanda.gathani@metia.com Cognito Press Contact: (USA) Binna Kim +1 646 395 6304 Binna.Kim@cognitomedia.com Fundtech Ltd. George Ravich +1-201-215-6530 george.ravich@fundtech.com