JERSEY CITY, N.J., Feb. 1, 2011 (GLOBE NEWSWIRE) -- Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, announced that it has won the Innovation for Payment Processing award in Financial-I's 5th Annual Leaders in Innovation competition.
The award recognizes a company with demonstrable innovation in business solutions for payments challenges. Fundtech was recognized for its Mobile ACCESSplus™ and CASHplus® SmartNav™ solutions that were introduced in 2010.
Anita Hawser, Editor of Financial-I, comments, "Competition this year was very tough. We selected Fundtech for their innovation in payment processing because of their ongoing commitment to developing cutting edge technology that represents the future of the transaction banking business."
Mobile ACCESSplus is the first mobile platform designed specifically for corporate electronic banking. It is an extension to Fundtech's Services Platform, a SOA services-based approach that consolidates all of Fundtech's transaction banking products into an integrated suite of SOA services. CASHplus SmartNav redefines the user experience by harnessing the power of Web 2.0 technology to offer the treasury professional a new level of convenience, personalization and productivity.
Financial-I's Leaders in Innovation annual awards are given based on research by Financial-I's journalists and input from an advisory panel, which includes industry analysts, consultants, and experts. Recipients of the award are global transaction banks and financial software and hardware providers that, within the span of the previous 12 months, have excelled in providing innovative business solutions.
"Product innovation is a central tenant of our company culture," said Rhys Jones, Chief Innovation Officer of Fundtech. "Working closely with our customers, Fundtech is able to address the industry's most critical challenges, enabling technology to improve bank services and achieve operational excellence."
About Fundtech
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 world's 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 world's 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, 2009, including general economic and market conditions, changes in regulations and taxes and changes in competition in pricing environment. Undue 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.