JERSEY CITY, N.J. and PALO ALTO, Calif., Nov. 28, 2012 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, and Zafin Labs, the leading provider of dynamic relationship banking platforms, jointly announced a strategic partnership to integrate their systems. The alliance allows financial institutions to provide a differentiated pricing, billing, profitability simulation and payments experience to customers. The combined system will support integrated transaction processing and relationship banking, including real-time pricing across multiple currencies, based on associated standard or exception price for the customer hierarchy.
Fundtech's Global PAYplus®-Services Platform is a payments services hub supporting management and execution of a wide range of payment types, including: High Value/High Care Payments, Mass Payments, SEPA Payments, Immediate Payments and others, within a common rules-driven infrastructure. Zafin Labs' miRevenue Solution Suite offers financial institutions a multi-currency, multi-geography dynamic relationship pricing engine, profitability simulation, master product catalogue and product lifecycle management, configurable product bundling, revenue capture and management, and, enterprise loyalty capabilities.
By providing a single platform for processing high and low value payments integrated with a dynamic pricing and billing capability, banks and financial institutions are able to automate pricing decisions that reflect the total relationship value and contain revenue leakage. More information on how a seamless pricing proposition for payments competitively differentiates an organization can be found in a co-authored white paper. The integrated Fundtech/Zafin Labs solution has already been deployed in global and regional banks.
"At a time when banks are seeking new revenue opportunities in their Transaction Banking business, optimizing their pricing policies is especially welcomed. We see this partnership delivering significant end-to-end value to our clients," said Michael Sgroe, President and Chief Operating Officer of Fundtech.
"The offering of an end-to-end integrated payments, pricing and billing solution enables financial institutions to realize optimal revenues and quick ROI for the payments transformation. We are excited about this partnership's truly unique value proposition," said Mr. Al Karim Somji, Chairman & CEO, Zafin Labs.
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 or 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 Zafin Labs
Zafin Labs is an award-winning provider of relationship banking software solutions to the financial services industry. As the market leader in relationship banking for Wealth Management, Trade & Finance, Retail, Corporate, Treasury & Correspondent banking, our global client base includes many of the world's largest and most respected tier-1 banks, all of whom are referenceable. With a presence in more than 40 countries, our flagship product, miRevenue, routinely generates 100% ROI in under 12 months by enabling dynamic relationship pricing, configurable billing, loyalty management and revenue capture capabilities. Zafin Labs has offices in North America, Europe, Asia, Africa and the Middle East. To learn more abut our solutions please visit http://www.zafinlabs.com or call 1-855-MY-ZAFIN (1-855-699-2346).
CONTACT: Press Contacts: Fundtech (UK) Chanda Gathani - Metia Ltd., +44 (0) 20 3100 3605, firstname.lastname@example.org (USA) Binna Kim - Cognito, +1 646 395 6304, Binna.Kim@cognitomedia.com Corporate Contacts: George Ravich - Fundtech, +1 201 215 6530, email@example.com Zafin Labs Ghela Boskovich - +1 801 541 5586, firstname.lastname@example.orgSource:Fundtech Ltd.;Zafin Labs