SIBOS, OSAKA, Japan, Oct. 30, 2012 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announced that it has signed a teaming agreement with BCS Information Systems (BCSIS), a Singapore-based financial solution provider. Under the agreement BCSIS will promote, implement and be a center of excellence for Fundtech's Global PAYplus® in Asia-Pacific.
Banks throughout the region are investing in new payment systems in order to provide world-class services, and support the growth of global commerce their commercial clients are experiencing. New payment innovations such as Singapore's Real Time Payments are also driving the evolution of payment systems in commercial banks.
Ricky Lim, managing director of BCSIS, said: "Fundtech's vast experience enabling global banks to enhance their payments offerings coupled with BCSIS's proven track record in payments innovation and implementation, is a unique combination that will bring great value to financial services organizations. We are very pleased to partner with Fundtech to bring payments best practices to help commercial banks maximize customer returns by reducing operating costs in an increasingly challenging and commoditized marketplace."
According to Gil Gadot, president of Fundtech Asia: "Partnering with BCSIS strengthens our presence in Asia-Pacific, a critically important growth market for us. Working together, we will be able to develop and deliver advanced payment systems that will help banks reduce their costs by streamlining operations, while improving the end-user experience with new and improved features. We are delighted to partner with BCSIS, a well-established provider to the financial services industry in the region."
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, our clients benefit from lower operating costs and an enhanced end-user experience through our integrated and feature-rich solutions. Our major product lines are: 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. We operate Fundtech Connect, one of the world's largest services bureaus that addresses the unique needs of the financial services industry. 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
About BCS Information Systems
Established in 1988, BCSIS has enabled banks, businesses and consumers to effect payment transactions with ease, immediacy and efficiency. Based in Singapore, BCSIS is the architect of the island nation's premier real time payment infrastructure for low value transactions. This new framework creates new opportunities for the entire ecosystem of banks, clearing houses, businesses and consumers to interact in ways never possible before. To-date, BCSIS has developed and successfully implemented clearing, payment and banking systems for many satisfied customers from Bahrain, Brazil, China, Hong Kong SAR, Indonesia, Malaysia, Singapore, Sri Lanka, Taiwan to Thailand. Through innovation, BCSIS continues to shape the future through ground-breaking clearing and payment solutions that accelerate the speed of commerce.