ANZ Selects Fundtech's Global CASHplus for Deployment in 11 Countries
Bank Will Integrate GCP With Their Existing Fundtech Payments Platform Global PAYplus
JERSEY CITY, N.J., Sept. 20, 2011 (GLOBE NEWSWIRE) -- Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, announced that Australia and New Zealand Bank (ANZ) has selected Global CASHplus® as their new cash management solution and plan to deploy it in eleven countries throughout Asia-Pacific. The bank plans to integrate Global CASHplus with their current payments platform, Fundtech's Global PAYplus®.
According to Nigel Dobson, Global Head of Payments & Cash Management at ANZ: "Global CASHplus will enable us to provide our multinational corporate clients with the most advanced cash management services available. They will benefit by having a consolidated view of their available funds across the region and will have the convenience of managing their cash through a single system. Combined with Global PAYplus, ANZ will offer the market the most compelling Transaction Banking services available. Having a single provider for these solutions makes integration easier and will result in higher levels of STP (Straight Through Processing)."
Gil Gadot, MD of Fundtech Asia said: "We are delighted that ANZ has selected Global CASHplus for their multi-country cash management system. Integrating it with Global PAYplus will provide the bank with a competitive edge because it enables them to offer their multi-national corporate clients a single cash management system that will improve liquidity management along with tightly integrated payments capabilities."
Global CASHplus is Fundtech's modular cash management system that combines a complete cash and liquidity management system with extensive financial supply chain functionality. It has been specifically designed for multi-country deployment.
Fundtech has been a major player in the Australian banking business for the past ten years. Three of the top four Australian banks currently use Fundtech payments systems in their international payments infrastructure.
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.
CONTACT: (UK) Rhiannon Davies - Metia Ltd.
+44 (0) 20 3100 3508
(USA) Binna Kim, Cognito
+1 646 395 6304
George Ravich - Fundtech Ltd.