JERSEY CITY, N.J., Feb. 25, 2013 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announced that Global CASHplus® has been named 'Best-in-Class' in payables functionality as well as workflow automation in the CEB TowerGroup technology assessment of the payables automation space.
The rankings recognize firms that demonstrate innovation in business solutions that contribute to automating payment processes and support a bank's ability to provide a wide range of services to its corporate customers. Key differentiators for Fundtech's core cash and treasury management solution, Global CASHplus, were highlighted in the best-in-class showcase and included the following capabilities:
- Direct system integration and translation from corporate systems
- Error reduction and duplication detection
- Integrated payment file support and disbursement
- Multi-channel capabilities including desktop, tablet and smartphone devices
- Mapping tools for remittance details
- Single platform for domestic and cross-border payments
- Role-based access control and security
- Overall user experience
"As electronic transaction volumes and regulatory burdens grow, financial institutions are investing in payments automation to improve cost and compliance management," comments CEB TowerGroup research director Steven Murphy. "Offerings like Fundtech's provide support capabilities across ACH, wire, check and cross-border payments. Supporting an integrated payment file is one of the top priorities in a modern payables automation system. Executives faced with increased regulatory burdens and slowing industry revenues have shifted focus to more efficiencies across the enterprise."
"We are delighted with this accolade given to us by CEB TowerGroup analysts. It is a demonstration of the hard work and commitment we have put into making Global CASHplus an industry leading cash and treasury management solution," says Sanjay Dalmia, EVP Global Cash Management at Fundtech. "We are continuing to invest even further in our solution with broad and deep functionality for the US and global markets, taking onboard feedback from our clients and industry influencers."
Global CASHplus has been designed by Fundtech to help banks' corporate customers optimize funds usage across their complex networks of accounts and credit facilities with numerous banks in multiple countries. It is fully featured to support extensive aspects of treasury management such as payables, receivables, corporate liquidity management, cash flow forecasting, financial supply chain management, and also a trade front-end for corporates.
The CEB TowerGroup's Payables Automation Systems Technology Analysis is not nomination-dependent and is largely based on research conducted by research analysts. The selection process centered on vendors with mature products, globally recognized innovation and multiple large-scale installations with major financial services institutions.
Fundtech is a leading provider of financial technology to banks and corporations of all sizes around the world. Founded in 1993, Fundtech was acquired by GTCR, a Chicago-based private equity firm. Major product lines are: payments and liquidity management; cash management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway products and mobile banking products. The company sells these systems through either a traditional software license or through a Software-as-a-Service (SaaS) contract. Fundtech also operates one of the world's largest services bureaus. Thousands of financial institutions and companies around the world rely on Fundtech's innovation to improve operational efficiency, increase revenues, and to provide greater competitiveness through business-to-business services. For more information, please visit www.fundtech.com.
The Fundtech Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=16730
Technology Assessment Disclaimer
CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated "best in class." CEB TowerGroup research publications consist of the opinions of CEB TowerGroup's analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.