Fundtech and ICICI Bank awarded the ‘Best Financial Supply Chain Project’ in The Asian Banker Technology Implementation Awards
Asian Banker recognizes the successful deployment of Fundtech’s Global CASHplus at ICICI Bank as an outstanding financial supply chain solution for corporates
Jersey City, N.J. – April 26, 2013 - Fundtech, a market leader in global transaction banking solutions, today announced that its cash and treasury solution Global CASHplus® has been awarded the ‘Best Financial Supply Chain Project’, along with ICICI Bank Limited, India’s largest private sector bank, in The Asian Banker Technology Implementation Awards. This accolade recognizes Fundtech for its convergence banking project and financial supply chain implementation success at ICICI Bank.
The 2013 rankings are designed to identify emerging best practices in technology implementations, and to highlight implementation goals and challenges from which other banks and vendors can learn. It is also designed to provide The Asian Banker’s vendor selection program with benchmarks and realistic goals that other banks taking the same path can set.
“ICICI Bank is able to provide the corporates and their entire supply chain, a strategic and unified solution for financing as well as for the better management of their working capital,” comments Supritha Shetty, Senior General Manager, ICICI Bank. “Delivering efficiency across the enterprise is one of the top priorities in our Bank and we are pleased to have implemented a new level of efficiency for our corporate customers at ICICI Bank.”
“Fundtech receiving the ‘Best Financial Supply Chain Project’ award is a testament to our ongoing dedication to our clients’ success and we’re pleased to be recognized for this effort at ICICI Bank,” states Sanjay Dalmia, EVP Global Cash Management at Fundtech. “. We are continuing to invest even further in our solution to deliver broad and deep functionality for the global markets, allowing our clients to adopt a holistic and relationship-based view of their overall corporate business.”
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, our clients benefit from lower operating costs and an enhanced end-user experience through our integrated and feature-rich solutions. Our major product lines are: 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. We are also the world’s largest service bureau operator. 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.
About ICICI Bank Ltd
ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of US $ 124 billion at March 31, 2013. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 19 countries, including India.
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