JERSEY CITY, N.J., March 20, 2014 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announces that it has onboarded 20 of its financial messaging service bureau customers to its new compliance solution, Global Compliance Plus.
Global Compliance Plus reduces the costly 'false positives' associated with anti-money laundering compliance by ensuring that messages that have already passed scrutiny are not re-checked; that messages are only filtered through the appropriate national or international lists; and that fields for matching can be set to varying degrees of specificity, allowing banks to be as selective or as broad in their criteria as they would like. The solution simplifies and automates the bank's compliance processes, ultimately lowering associated costs and reducing operational risk. Global Compliance Plus can be used as a stand-alone, in-house compliance filtering solution or integrated with Fundtech's global payments and global cash management solutions. The compliance solution can also be delivered through a SaaS model, further reducing risk and saving banks time and money.
"Last September, Fundtech announced the launch of Global Messaging Plus, our new financial messaging platform, and Global Compliance Plus, the new compliance filtering solution, which was built on the platform," says Per Trifunovic, CEO of Fundtech's BBP business unit. "At that time, we also announced our first 'go-live' on Global Compliance Plus. Today, we reach a milestone in bringing 20 customers live, significantly enabling them to avoid false positives, achieve compliance, and save time and money. We look forward to continuing this momentum and delivering this solution to more customers."
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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