Corporate Clients Benefit From Integrated Transaction Banking Services
Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, today announced that United Overseas Bank (UOB), one of Thailand's leading banks, has implemented Global CASHplus (GCP), Fundtech's new generation transaction banking system that combines comprehensive global cash management with the full range of automated financial supply chain features.
GCP offers UOB's corporate clients an easy-to-implement, secure, 24x7 environment to effectively manage their cash functions online, including payments, collections and balance reporting. Its front-end capabilities, including multi-lingual support, offer a single-window interface for all types of cash management transactions.
GCP provides UOB a competitive edge with its integrated features, operational efficiency, and Web 2.0-inspired user interface. GCP is equipped with a complete suite of solutions that efficiently manages Channel Finance & Services, Collections Management, Payments Processing, Receivables Management, Liquidity Management and Account Reconciliation.
Sanjay Dalmia, Managing Director, Fundtech India Ltd. said: "We are delighted that UOB has selected Fundtech's Global CASHplus to provide advanced transaction banking services to its clients. The product's innovative features will enable UOB to offer the industry's most comprehensive and competitive corporate banking service."
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 is a leader in SWIFT services, operating 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, 2008, including general economic and market conditions, changes in regulations and taxes and changes in competition in pricing environment. Undo 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.
CONTACT: Metia Inc.
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Fundtech India Ltd.
Supriya Kumar
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