Fundtech Expands Into Europe

September 10, 2009 (FinancialWire) — Fundtech Ltd. (NASDAQ: FNDT), a market leader in global transaction banking solutions, announced the availability of its highly successful Global CASHplus solution throughout the European market.

Currently the product has 13 clients across the Asia-Pacific region, and has recently added two leading banks in Europe, one of them the National Bank of Greece.

Global CASHplus’ success in Asia-Pacific has been due to its comprehensive set of advanced features that offer banks an edge in the highly competitive cash management business. Most importantly: the product’s breadth of cash and liquidity management features that can be purchased on a modular basis; its advanced Web 2.0 user interface that enables users to customize portals; and it’s multi-country capabilities that provide corporate clients with the cross-border transactions and working capital visibility they require.

According to Trevor LaFleche, Senior Research Analyst for IDC Financial Insights, “European banks are managing their corporate application portfolio more closely than ever. offerings that can help banks improve their service from the interface and across the key lines of business that need refreshing will win favour in the marketplace.”

Speaking of the introduction, Mark Wilson, managing director of Fundtech’s European business said: “Global CASHplus is perfectly suited for the European market because cross-border commerce is a way of life for companies of all sizes. With Global CASHplus, banks can help their corporate customers optimise funds usage across their complex network of account and credit facilities in multiple countries, and ultimately provide effective working capital management via integrated cross border cash and liquidity management services.”

According to Sanjay Dalmia, CEO of Fundtech India: “Global CASHplus offers a complete solution for corporate clients to manage SEPA Credit Transfers  and SEPA Direct Debits . Its J2EE technology and SOA enabled modules ensure the flexibility that modern banking systems require.”

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