JERSEY CITY, N.J., Nov. 19, 2013 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announces that Customers Bank, a full-service, community bank headquartered in Phoenixville, PA, with 14 branches and offices located in Southeastern Pennsylvania, South Jersey, New York, Rhode Island and Massachusetts, has selected Fundtech's ACHplus to improve ACH automation.
Fundtech's ACHplus automates mission-critical ACH processes to allow U.S. banks to scale up the volume of their ACH business significantly, while at the same time reducing cost, improving customer service and increasing customer loyalty and profitability. With ACHplus, Customers Bank gets a single ACH research facility, enabling the bank to streamline ACH processing and reduce risks, such as human error and potential fraud.
"ACHplus provides state of the art electronic processing to help us manage our bank's growing range of service offerings to business banking and middle market customers," said Dick Ehst, President and COO of Customers Bank. "In addition, ACHplus provides important risk management and fraud controls to help our systems operators manage and protect the security of our customers' accounts and electronic transactions – which is something we take very seriously at Customers Bank."
"ACH may be a standard product in banking terms, but high profits in this business are not a given," said Phil Sadd, Senior Vice President, North American Sales at Fundtech. "High levels of inefficient processing can quickly erode margins in an ACH operation, while also making it difficult to add new customers. This problem is exacerbated today by rising rates of ACH fraud, as well as by the payment risk associated with companies succumbing to challenging economic conditions."
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, Fundtech's customers benefit from lower operating costs and an enhanced end-user experience through integrated and feature-rich solutions. The firm's major product lines include: 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. 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.
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