Fundtech Leverages the Federal Reserve’s FedGlobal® ACH Payments to Send Compliant International ACH Transactions
By leveraging the Federal Reserve Bank Service, Fundtech can provide International ACH Transactions (IAT) that satisfy the disclosure requirements of Dodd-Frank Section 1073
Jersey City, NJ – December 12, 2013 - Fundtech, a market leader in global transaction banking solutions, today announces the rollout of the Federal Reserve’s FedGlobal® ACH Payments as a part of Fundtech’s ACH solutions. Through this solution, Fundtech provides customers with access to the Federal Reserve Bank’s disclosure capabilities for International ACH Transactions (IAT).
Financial institutions face challenges in complying with Regulation E of Section 1073 of the Dodd-Frank Wall Street Reform and Protection Act. The FedGlobal ACH Payments service facilitates disclosure requirements and error resolution for financial institutions involved in the outbound, cross-border transfer of funds. This service complements Fundtech’s ACH solutions which automate ACH processes and provide ACH processor connectivity that benefit banks by reducing costs, improving efficiency, facilitating ACH business growth and managing risk.
“The Federal Reserve Bank’s FedGlobal ACH Payments service complements Fundtech’s ACH processing and origination solutions with enhanced disclosure compliance,” said Mary Ellen Putnam, Executive Vice President, U.S. Payments Strategic Business Unit at Fundtech. “Together we provide solutions that maximize the value of ACH to financial institutions while ensuring compliance with the ever-evolving regulatory landscape.”
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
+1 201 215 6524
Kevin Maher - Cognito
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