Survey Results Reveal Regulatory Uncertainty Among Payments Executives
76% of respondents to a Fundtech survey think new regulations will not stave off a future crisis
Fundtech Ltd. (NASDAQ: FNDT), a market leader in global transaction banking solutions today announced the results of a survey of payments industry participants. Survey results show pronounced differences between members of the corporate and banking communities on the matter of further government regulation, as well as an overall trend towards increasing value-added services in the industry.
Fundtech is offering the first live global webcast originating from NACHAs annual PAYMENTS 2010 Conference to be held on Monday, April 26. Over 400 people have registered for the webcast and were surveyed to gauge their opinions on industry issues. Among survey participants, the most contentious issue was whether further government regulation of the financial industry is necessary to prevent future financial crises. There is strong agreement (76% of respondents) that new regulations are not needed to prevent future financial crises. By sector, however, opinions are much more divided: 37% of corporate respondents see the need for further regulation, while only 19% of bankers believe this is necessary.
The survey uncovered the following findings:
- 60% of bank respondents think that combining data, including remittance data, EDI data and electronic invoice presentment, with payment processing is an important trend and a value-added service they should offer to their business clients.
- Of those, only 47% indicate their banks are already pursuing this strategy, indicating great room for growth in this sector.
- When asked who is to blame for the liquidity crisis bankers not lending or an absence of qualified borrowers - about 45% of all participants said both are to blame. However, 28% of corporates think that the crisis was caused by a reluctance to lend on the part of the banks, while only 13% of the bankers think this way.
About PaymentsLIVE! Live Video Webcast
Fundtech's PaymentsLIVE! - Thought Leadership Spotlight (April 26th at 11:15 AM Pacific / 2:15 Eastern) will investigate the significant changes that have resulted from the financial downturn over the last couple of years. Following the crisis, how are executives at some of the largest institutions in the world tackling issues such as increasing revenue opportunities by leveraging payments information while managing costs? How is the recession driving the need for better access to liquidity? The panel of leading payments executives will provide their perspectives on todays most pressing issues and give insight into the opportunities they see following turbulent economic times. Speakers include the following individuals:
- Marcie Haitema, NACHA Chairperson
- Cynthia Murray, eCommerce Corporate Banking Executive - Bank of America Merrill Lynch
- Sharon Petrey, Corporate Director, Treasury - Coca-Cola Enterprises
- Christopher Ward, Senior Vice President, Treasury Management, Capital One
- Leslie Bertha, Executive Vice President, Fundtech Corporation
- Moderator: George Ravich, EVP & Chief Marketing Officer, Fundtech Corporation
To participate in the live video webcast go to http://www.visualwebcaster.com/paymentslive/
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.
(USA) Binna Kim, Cognito
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George Ravich Fundtech Ltd.