JERSEY CITY, N.J., Jan. 22, 2013 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announced the launch of a hosted version of Global CASHplus® (GCP), its flagship cash management solution. The GCP On-Demand service will allow banks to reduce the costs of hardware, installation, maintenance and manpower while focusing on their core competencies and growing their business.
GCP On-Demand is designed for mid- and small-tier banks looking to offer standardized cash management services such as balance and transaction reporting, payables, receivables and financial supply chain to their corporate customers. This service also benefits large multi-national banks that are entering new markets and are in need of a quick go-to-market cash management service for their customers.
"With GCP On-Demand, banks are fully supported in extensive aspects of treasury management. Fundtech has leveraged its award-winning expertise of providing software services for cash management, SWIFT financial messaging and electronic invoice presentment and payment (EIPP) services to over five hundred financial institutions and more than one thousand corporate customers globally," states Sanjay Dalmia, EVP Global Cash Management. "This new initiative was developed in response to direct feedback provided by our customers and we are already seeing a great interest for the solution in India and other countries in Asia."
GCP On-Demand is an extension of GCP, Fundtech's market-leading cash and treasury management solution offered by banks to their corporate customers. GCP On-Demand helps banks offer a new level of service in transaction banking by creating fast-to-market, easy access to data and transactions through its advanced cash management dashboard. GCP's wide selection of modules cover all functionality required to offer comprehensive cash management, financial supply chain, liquidity management, forecasting and reporting capabilities. The modular design and architecture enables banks to quickly and affordably add the features they need most.
Fundtech operates as an application service provider in North America for payments and cash management services and, through its BBP subsidiary, operates the world's largest SWIFT service bureau supporting more than 250 clients. With the launch of GCP On-Demand, banks now have several pricing options to choose from with 24x7 online and telephone support.
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.
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