JERSEY CITY, N.J., June 14, 2011 (GLOBE NEWSWIRE) -- Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, today announced its 34th customer has gone live with one of its SEPA payments processing systems. Fundtech has been a major provider of SEPA payment systems since 2008, with five of the global top 20 banks among its clients.
Fundtech offers three system alternatives, each targeting a specific market segment or need:
- Global PAYplus – SEPA, is an extension of its payments platform that is used around the world by some of the largest banks.
- PAYplus FTS, is a full-feature payments system that is used by mid- to small-size banks, primarily in Europe.
- Integration Suite for Payments – SEPA, is a payments middleware solution that enables banks and their corporate clients to leverage existing payments infrastructure to process SEPA payments by transforming, organizing and routing transactions between legacy and SEPA message formats.
Fundtech's most recent client to go into production is UBI Banca International located in Luxembourg. The bank is using PAYplus FTS for SEPA and SWIFT payments in its home country as well as Germany, and plans to expand further in the future.
According to Sonja Colli, Chief Operating Officer at UBI Banca: "We support our corporate clients who seek the business benefits of SEPA payments. Fundtech's PAYplus FTS solution has made it easy for us to extend our payments infrastructure to include SEPA."
According to Dieter Prang, managing director of Fundtech GmbH; "With 34 clients currently live with one of our SEPA payments systems, we believe that Fundtech's wealth of experience is a major benefit to our customers. As the end-date becomes confirmed, the need for know-how in adding this new payment type to existing payments infrastructure will become even more important."
Fundtech is speaking at the upcoming EBAday Conference being held in Madrid, Spain on 15-16 June. Joe Mazzetti, executive vice president of Fundtech, will participate in a panel discussion entitled: "New Business Models for Payments," which will look at the impact SEPA has made on bank's payment processing." Marco Lauber, senior vice president of Fundtech/BBP will be a panelist on the topic: "The Service Bureau Space and Its Implications for Banks and Their Relationships with Corporates." Fundtech will also be an exhibitor at the conference.
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, 2010, 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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