AMSTERDAM, Netherlands, Oct. 25, 2010 (GLOBE NEWSWIRE) -- Sibos -- Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, today announced the introduction of Mobile ACCESSplus, the first mobile platform designed specifically for corporate electronic banking. Mobile ACCESSplus is an extension to Fundtech's Services Platform, a rich SOA (Services Oriented Architecture) platform designed for transaction banking. Along with the launch of Mobile ACCESSplus, Fundtech also announced the introduction of three mobile modules: Global CASHplus® - Mobile, an advanced cash and liquidity management system; Accountis® EIP - Mobile, an electronic invoice presentment system; and Bacsactive-IP – Mobile, a system used for UK Bacs payments.
A major global bank headquartered in the UK is the first client of Mobile ACCESSplus, and plans to deploy the Bacsactive-IP Mobile service to its clients in the near future.
Mobile ACCESSplus is an extension to Fundtech's Services Platform, a SOA services-based approach that consolidates all of Fundtech's transaction banking products into an integrated suite of SOA services including payments, cash management, financial messaging, and financial supply chain. Fundtech has developed a single shared-services framework that is platform independent and is compatible with bank-developed and third-party SOA-based services.
The introduction of Mobile ACCESSplus comes at a time when demand for mobile corporate banking services is on the rise. According to a recent Fundtech and Aite Group report, approximately two-thirds of businesses are at least 'somewhat likely' to use mobile corporate banking services to perform basic transactions such as checking balances or transferring funds. Even more importantly, over 55% of treasurers expressed interest in performing more advanced functions such as approving transactions and initiating payments via a mobile device.
Christine Barry, Research Director at Aite Group and author of the report, commented: "Fundtech's introduction of a mobile corporate banking platform is a significant development for the industry. Mobile corporate banking is still in its infancy, and a first-mover advantage exists for any institution launching an initiative capable of addressing the unmet market need for corporate mobile banking. The survey revealed that about half of treasury executives would be willing to pay for mobile services – this represents an entirely new, untapped avenue of revenue potential for banks that they cannot afford to pass up." The report can be downloaded at:
Fundtech CEO Reuven BenMenachem said: "Mobile ACCESSplus enables banks to deepen their client relationships and provide new sources of revenue. Adding mobility to corporate electronic banking is an important innovation for Fundtech and the industry. We are excited to be first to market with a truly important platform for the corporate banking industry."
Mobile ACCESSplus features:
- Support for all major mobile operating systems, including Apple, Android, Blackberry and Microsoft with "native applications"
- REST Security via new REST APIs – the standard method for mobile devices to connect to remote service platforms, ensuring fast and secure encrypted services
- Real-time access to data, such as live balance data, transaction status, and drill down reporting
Fundtech will be demonstrating Mobile ACCESSplus at Sibos 2010 in Amsterdam (Booth A247). Demos are scheduled for 10:00, 13:00, and 16:00 Monday through Wednesday, and are open to all conference attendees.
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.
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