Fundtech Hires Ed Gainer to Lead US Cash Management Business
30-year banking technology veteran to join Fundtech management team
Fundtech Ltd. (NASDAQ: FNDT), a market leader in global transaction banking solutions, today announced the hire of Dr. Ed Gainer III as Head of its US Cash Management Business Unit. Dr. Gainer was formerly a co-founder of Generated Systems Technologies, an innovator in automated small business banking and a provider of professional consulting services. He brings over 30 years of experience in the financial technology industry, including senior management positions at Brokat Technologies, Transaction Software Technologies, and National Data Corporation.
Dr. Gainer will be responsible for product development and growth strategies for Fundtechs North American cash management business. Specifically, he will oversee the development and deployment of the Fundtech cash management product suite, including CASHplus , one of the industrys leading electronic banking systems and recently rated the most technologically advanced by analyst group Celent. Fundtech customers will benefit from Dr. Gainers depth of experience in providing banks with a competitive edge via sophisticated software solutions.
Commenting on the appointment, Fundtech President and COO Michael Sgroe said: We are absolutely delighted that Ed is joining Fundtechs management team and look forward to his leadership and contributions to our cash management business. We remain committed to bringing on board the most experienced, talented and hard-working minds in the industry. By giving our clients access to this pool of expertise, we enable them to become the preferred providers of treasury management services.
Commenting on his appointment, Dr. Gainer said: Fundtech has a strong foothold in the cash management business, and I look forward to further building upon this platform for growth. The company is very well-poised to take advantage of the banking industrys increased appetite for technology innovation and focus on improving the client experience.
Prior to joining Fundtech, Dr. Gainer was a co-founder of Generated Systems Technologies, Inc., where he consulted with top 50 banks on portal development and cash management product development... Prior to that, Dr. Gainer was the Senior Vice President of Strategy for Corporate e-Banking at Brokat Technologies. He was also the CEO and co-founder of Transaction Software Technologies, Inc. and the Vice President of Cash Management Development at National Data Corporation. Dr. Gainer holds a Doctor of Philosophy in Industrial and Operations Engineering and Master of Arts in Mathematics from the University of Michigan.
Dr. Gainer will be based in Fundtechs Norcross, Georgia office close to where he currently lives with his family.
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 worlds 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 worlds 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, 2008, including general economic and market conditions, changes in regulations and taxes and changes in competition in pricing environment. Undo 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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