AUSTIN, Texas, April 5, 2011 /PRNewswire/ -- Travelex Global
Business Payments, the world's leading cross-border payments
specialist, and Fundtech Ltd., a market leader in global
transaction banking solutions, today announced an alliance to
provide an industry-leading integrated foreign payment solution for
U.S. financial institutions.
The alliance will offer financial institutions using Fundtech's
PAYplus USA™ for domestic wire transfers a seamless connection to
Travelex's international wire payments platform. This
integrated international payment capability enable banks and credit
unions to grow their non-interest revenue streams, so they can
concentrate on core business activities.
"Fundtech is delighted to partner with Travelex Global Business
Payments as we aim to continually enhance the value of PAYplus USA
with new expanded functionality. As the demand for international
payments increases, offering banks integrated and complete
international payments capabilities is an important enhancement,"
said Anthony Salamone, VP U.S.
Payment Product Management for Fundtech.
The partnership allows Fundtech customers to benefit from an
integrated foreign payments solution that:
- Streamlines Payment Processing: Fundtech's PAYplus USA
is an intuitive platform that offers the combined advantage of
executing domestic and foreign payments in a quick, convenient and
cost effective manner
- Reduces Errors: PAYplus USA has a simplified
manual processing function that helps financial institutions reduce
rekeying errors associated with entering data to multiple payment
systems
- Consolidates Reporting Options: Through PAYplus USA, all
payments information comes through one application to provide
consolidated reporting for domestic and international payments.
Centralizing all transactions into one system also simplifies
current day and historical data research for financial institution
clients
"Many financial institutions are looking for convenient,
efficient and cost-effective international payment solutions and
our alliance with Fundtech ensures that all transaction, compliance
and settlement functions are integrated on to one platform," said
Matthew Lewis, Director Partnerships
and Alliances for Travelex Global Business Payments. "Fundtech
gives us a tremendous opportunity to respond to the needs of our
financial institution customers by offering them access to a
seamless and integrated solution for their global payment
needs."
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 Travelex Global Business Payments
Travelex is a global foreign exchange specialist providing the
payment and receipt of domestic and international funds for
businesses of all sizes. For more than 30 years, Travelex has
provided clients with sophisticated market knowledge, leading edge
technologies and practical and innovative solutions tailored to
individual requirements.
Every year, Travelex processes payments around the world for
over 35,000 businesses to one million beneficiaries.
For more information, visit www.travelexbusiness.com/na.
In the United States, services are
provided by Travelex Global Business Payments, Inc. or Travelex
Currency Services, Inc. In Canada, services are provided by Travelex
Canada Limited.
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.
© 2011 Travelex.
In the United States, services
will be provided by Travelex Global Business Payments, Inc. or
Travelex Currency Services, Inc. In Canada, services will be provided by Travelex
Canada Limited. For a complete list of U.S. state licensing,
http://www.travelexbusiness.com/na/about/compliance.
SOURCE Travelex Global Business Payments
