OmniPAY for I-ACH is an intelligent payments hub that automates the processing of mixed payment files, simplifying the process. Corporates are able to send a single file of mixed payment types to the bank for processing - eliminating the need for special handling based on size of payment or destination. Once these files reach the bank, OmniPAY properly formats payments based on their destination, and routes them through the bank's existing payments infrastructure or to a correspondent bank.
OmniPAY's rules-based architecture makes it easy to offer customized VIP services to corporate clients. Among the many options, banks are able to customize processing by: account, time-of-day, priority, and currency. Banks will also be able to offer corporate clients sophisticated netting, bulking and float management. Real-time funds management and reporting of settlement are also possible. These higher-value services make banks more competitive and can command premium-fee pricing.
Gene Neyer, Fundtech's Vice President of Payment Products said: "The market for international ACH payments is expanding rapidly as companies of all sizes conduct their business globally. Banks must be able to serve this market with a simple solution that offers a wide variety of options. OmniPAY for I-ACH provides banks with an efficient way to handle these transactions while expanding opportunities for fee-income and FX profits."
About Fundtech
Fundtech Ltd is a leading provider of software solutions and services to financial institutions around the world. The Company develops and sells a broad array of products across the "financial supply chain" that enable banks to automate their corporate banking activities in order to improve efficiency; while providing their customers with more choices, more convenience and more control. Fundtech offers products in four major categories: cash management, payments, settlements and financial messaging. Fundtech has recently expanded its product line with a securities post-trade settlement processing system.
With twelve offices on four continents, Fundtech is a significant provider of financial technology throughout the world. Fundtech is a publicly traded company, listed on NASDAQ (FNDT) and the Tel Aviv Stock Exchange. The company was founded in 1993. For more information, please 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, 2004, 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.
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