JERSEY CITY, N.J., Feb. 27, 2011 (GLOBE NEWSWIRE) -- Fundtech Ltd. (Nasdaq:FNDT), a market leader in global Transaction Banking solutions, and SWIFT, the global financial messaging provider, held a joint workshop for Japan's leading banks in Tokyo on 16 February. Among the bankers in attendance were representatives from the top three Japanese banks as well as many of the country's leading technology providers.
The workshop focused on how Japanese banks can become more competitive with other global banks through payments transformation projects that provide multinational corporate users with unified transaction banking services. By deploying a flexible payment services hub based on Service-oriented architecture, along with an integrated global cash management system, Japanese banks will be able to stay competitive with leading global banks that are already moving in this direction.
In the workshop, Fundtech presented case studies of its work with several of the world's largest banks, demonstrating the benefits and challenges of this approach. SWIFT presented its new offering - a revolutionary digital identity solution called 3SKey.
Mr. Yoshimi Tohru – Vice President, Swift, Japan, said: "I was very impressed by the response of Japan's leading banks to the topic of our workshop and there is obviously great interest in developing greater competitiveness among the megabanks in Japan as well as internationally. We see great synergy between Fundtech and SWIFT to service the Japanese Market and look forward to working together in the lead up to Sibos Osaka in 2012".
Mr. Gil Gadot - Managing Director of Fundtech Asia-Pacific said: "Japanese banks have a great appetite for technological innovation, and working with these major banks is one of Fundtech's main priorities for the region. We believe that our experience of working with other top banks around the world will be very relevant to assisting the Japanese megabanks to develop competitive solutions. We are very pleased with the strong response we received during our workshop in Tokyo."
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.
About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 9,500 banking organisations, securities institutions and corporate customers in 209 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
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.