JERSEY CITY, N.J., Feb. 19, 2013 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions and operator of one of the world's largest SWIFT service bureaus, today announced that its United Kingdom (UK) service bureau has been awarded the SWIFTReady Connectivity (Best Practice) Label. Fundtech's Switzerland-based service bureau was previously awarded the label in 2010, the second service bureau in the world to receive the honor.
This award is granted by SWIFT to the service bureaus that are recognized as 'best-in-class' shared connectivity providers. To be granted the best practice label, providers must demonstrate that they meet demanding operational requirements by undergoing a detailed on-site inspection and audit of their SWIFT infrastructure and premises by qualified SWIFT personnel.
According to SWIFT, the SWIFTReady connectivity label recognizes providers that meet higher standards of resiliency and security. The program makes it easier for users to identify the 'best-in-class' providers that meet the very strictest quality levels.
"Fundtech's strategy is to develop global SWIFT capability that meets or exceeds the highest standards possible. The SWIFTReady Connectivity (Best Practice) label is acknowledgement of our commitment to ensuring that our infrastructure and operations are aligned with this strategy," said Reuven Ben Menachem, Chief Executive Officer of Fundtech.
Commenting on the label, Jeremy Goddard, head of Fundtech's UK service bureau, said: "We are committed to investing in and continually improving our service bureau infrastructure to ensure we offer the highest level of service possible to our customers. We are proud to have our service bureau recognized for its excellence through the award of this prestigious label."
Today, Fundtech's service bureau serves more than 400 customers in over 70 countries worldwide. Fundtech has six data centers around the world, including in Switzerland, the UK and the United States. The company's centers process more than 25 million messages per month.
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 also operate one of the world's largest services bureaus. 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. For more information about our UK-based service bureau, please visit www.fundtech-fm.com.
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