JERSEY CITY, N.J., June 26, 2012 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, has won The Banker's Innovation in Banking Technology Award for Best Payments Technology, announced earlier this month.
The awards are based on research done by journalists at The Banker and determined by a panel of over 20 senior bank technology executives from across the world. Fundtech was recognized for demonstrable innovation in its payment solutions including Global PAYplus® Payment Services Hub (PSH) and Global CASHplus®.
John Beck, technology and trading editor at The Banker, explained: "Few activities are more fundamental to banking operations than payments, but customer requirements in this core activity are growing in scope and complexity, even as regulatory demands soar. A judging panel of more than 20 banking CIOs from across the globe felt that the performance and scalability of Fundtech's comprehensive suite of payments technology helped financial services firms meet these challenges better than any other."
"Product innovation is a central tenet of our company culture," said Reuven BenMenachem, Fundtech CEO. "This award from The Banker is very significant because it is voted on by bank CIOs and is recognition of our commitment to innovation. We are dedicated to helping our customers address the industry's most critical challenges, using technology to improve bank services and achieve operational excellence."
The Fundtech Payment Services Hub architecture enables banks to consolidate multiple payment system channels into a single view for the end user – drastically simplifying the user experience. The hub meets the need for agility when introducing new products and entering new markets and also minimizes the impact on legacy infrastructure while building a future payments platform. This advancement is a direct result of combining SOA with a robust rules engine, which takes flexibility to a new dimension.
Fundtech's Global CASHplus is a new generation transaction banking platform that offers multicountry cash and liquidity management allowing corporations access and visibility to their entire bank relationship. Corporations benefit from unprecedented levels of global financial control enabling them to optimize their working capital while managing risk and effectively manage financial transactions with global buyers and suppliers.
About Fundtech
Fundtech offers a broad line of Transaction Banking solutions to banks and corporations of all sizes around the world. Our clients benefit from selecting us as a strategic supplier because our integrated and feature-rich solutions are easier to install and maintain, which results in lower operating costs and a superior end-user experience. Our major product lines are: payments of all kinds, corporate cash and liquidity 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. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit www.fundtech.com.