Bankgirot is the first non-bank recipient of a model bank award ever for its initiative to transform Sweden’s payment’s infrastructure
Jersey City, NJ – April 29, 2014 - Fundtech, a market leader in global transaction banking solutions, is proud to announce that Bankgirot received top honors among Celent’s Model Banks in payments innovation in this year’s Celent Model Bank Awards. Of three institutions named model banks within the category payments innovation category—Bankgirot, Barclays and UBS—Bankgirot was named the overall Model Bank award winner, and is the first non-bank ever to receive the award.
Bankgirot, Sweden’s clearing house for mass payments, was honored for furthering the goal of achieving a cash-free society in Sweden. Using Fundtech’s Global PAYplus, Bankgirot launched Sweden’s first new payment system in more than fifty years, making the dream of real-time payments a reality. At the time of launch, there was an immediate spike in payments processed through the seven banks Bankgirot supports, and by October 2013, 850,000 users had adopted the system, transacting payments to the value of SEK 1.3 billion.
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, Fundtech’s customers benefit from lower operating costs and an enhanced end-user experience through integrated and feature-rich solutions. The firm’s major product lines include: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. Thousands of financial institutions and companies worldwide rely on Fundtech’s innovation to improve operational efficiency, increase revenues, and provide greater competitiveness through business-to-business services. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit www.fundtech.com.
Public Relations & Analyst Relations Manager, Fundtech
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Kevin Maher - Cognito
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