Fundtech Introduces ACHplus™ ServiceBureau – Complete Outsourced ACH Processing
Fundtech offers end-to-end corporate transaction banking Service Bureau
NACHA Payments 2010 Conference - Seattle Washington, April 26, 2010, Fundtech Ltd. (NASDAQ: FNDT), a market leader in global transaction banking solutions, announced the introduction of ACHplus ServiceBureau, a complete ACH (Automated Clearing House) processing solution. Banks of all sizes can now benefit from the advanced automation features of ACHplus without the need to purchase and maintain an in-house system. ACHplus joins PAYplus USA and CASHplus in Fundtechs ServiceBureau, providing an outsourced end-to-end transaction banking service.
With the growing volume and complexity of ACH processing, banks are in need of a highly automated system that can efficiently process transactions. ACHplus ServiceBureau offers banks a highly efficient system with many automated value-added services such as validation, risk controls and customized reporting. Banks are able to confidently expand their ACH origination business, increasing their service-fee revenues
According to Robert Coakley, Executive Vice President and head of US Payments for Fundtech, ACHplus has been one of the best selling systems since its introduction, and with the addition of a service bureau option, banks can now benefit from a feature-rich system that is capable of providing high-volume processing along with extensive value-added services. Banks who prefer not to support in-house systems are able to offer their corporate clients fast and reliable services that can be tailored to their specific needs. With a SaaS (Software as a Service) transaction-based pricing scheme and minimal up-front costs, banks are able to align their costs to maintain profitability and competitiveness.
ACHplus includes a high-performance back-office processing solution and a web-based origination application. The powerful automation framework called Systemation, maximizes processing speed and efficiency, and automates advanced reporting capabilities to give users actionable insights. The easy-to-use ACH origination application connects to any ACH processor and spans the entire range of ACH transaction types through a single solution. Rapid customization lets banks configure user screens and templates to fit their customers needs. The secure, Web-based interface includes built-in automation and risk management tools designed to reduce the frequency and severity of errors, leading to smoother operations, lower costs and faster execution.
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.
(UK) Chanda Gathani - Metia Inc.
Tel: +44 (0) 20 3100 3605
(USA) Binna Kim, Cognito
+1 646 395 6304
George Ravich Fundtech Ltd.