JERSEY CITY, N.J., June 5, 2012 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announced that it has successfully completed the postmerger integration with BankServ, and is providing greater customer value as a result of the expanded product lines.
In November 2011, Fundtech and BankServ combined their operations and are now offering the market a broader and deeper line of Transaction Banking products and services. Benefits of the enhanced product line have been readily apparent to clients, resulting in expanded sales.
Corporate One Federal Credit Union of Columbus, Ohio, an existing customer of BankServ's wire transfer system prior to the merger, has recently added PAYplus-ACH® and CASHplus®, part of Fundtech's premerger suite of products. According to Robert Coyan, Corporate One's SVP of Marketing and Operations: "Since Fundtech offers such a broad spectrum of quality products and services, they have become an integral component of the Corporate One suite. We know that credit unions throughout the United States will benefit from such a seamless end-user experience."
Jane Lathrop, SVP and Payment Services Manager of Umpqua Bank headquartered in Portland, Oregon, said: "Umpqua has been a client of both Fundtech and BankServ, and we are realizing significant value from their merger. Having a large portion of our transaction banking infrastructure from a single supplier, including cash management, payments, and our SWIFT connection, enables us to receive more accountability for a broader set of services, which we expect will translate into even greater reliability of service."
According to Fundtech's President Michael Sgroe: "Fundtech has enhanced its position in the market as the leading provider of business banking products and services. As a strategic, single-source provider, Fundtech is able to offer its clients multiple systems that are more easily integrated, work better together, and ultimately provide the end-customer with a far superior seamless user experience."
About Fundtech
Fundtech is a leading provider of financial technology to banks and corporations of all sizes around the world. Founded in 1993, Fundtech was acquired by GTCR, a Chicago-based private equity firm. Major product lines are: payments and liquidity management; cash management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway products and mobile banking products. The company sells these systems through either a traditional software license or through a Software-as-a-Service (SaaS) contract. Fundtech operates one of the world's largest services bureaus called Fundtech Connect, which addresses the unique needs of the financial services industry. Thousands of financial institutions and companies around the world rely on Fundtech's innovation to improve operational efficiency, increase revenues, and to provide greater competitiveness through business-to-business services. For more information please visit www.fundtech.com.