JERSEY CITY, N.J., Aug. 20, 2012 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announced the results of a benchmark test conducted in conjunction with IBM for a Tier 1 global bank. The results demonstrate that Global PAYplus® Services Platform (GPP-SP) running on an IBM software and hardware stack is able to far exceed the Bank's current and future performance targets for processing mass payments.
Mass payments refers to consumer and business low-value payments (such as ACH or SEPA transactions) that are typically processed in very large quantities, and therefore require a highly scalable system. In the benchmark test, Fundtech's GPP-SP was able to process 20 million payments in under two hours, less than half the time established as the benchmark by the Bank. In variations of the test, GPP-SP processed double and even triple the volumes in the target timeframes.
The benchmark test also concluded that GPP-SP achieved near linear scalability with stable performance. This important performance result demonstrates that the solution is able to effectively process increasing volume with additional hardware, thus providing future growth capability.
According to Gene Neyer, Fundtech Senior Vice President of Global Payments: "These results clearly demonstrate the technical feasibility of banks aligning payments processing infrastructure with the industry trends of consolidation and harmonization of current payment silos. Centralized, high-performance SOA-based Payment Services Hubs allow banks to offer customers a new level of business and functional payment capabilities while reaping the benefits of the highly affordable processing platform."
For more information on this benchmark test, go to http://www.fundtech.com/library/white-papers/ and download the report.
About Fundtech
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, our clients benefit from lower operating costs and an enhanced end-user experience through our integrated and feature-rich solutions. Our major product lines are: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. We operate Fundtech Connect, one of the world's largest services bureaus that addresses the unique needs of the financial services industry. Thousands of financial institutions and companies worldwide rely on Fundtech's innovation to improve operational efficiency, increase revenues, and 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