JERSEY CITY, N.J., Aug. 13, 2013 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announced that First Bank has gone live with CASHplus® Version 3.8. The turnkey cash management platform enables First Bank to deliver a scalable, flexible and customizable solution to the bank's corporate customers. A longtime Fundtech client with a unique footprint in Missouri, Illinois, Florida and California, First Bank is a privately owned institution with approximately $6.5 billion in assets.
CASHplus provides regional and national U.S. banks with greater operational control and lower costs by centralizing and consolidating cash management on a single platform. First Bank implemented CASHplus Version 3.8 to extend new capabilities to the bank's small business, mid-sized and large corporate customers. Features include multi-layered security, multi-browser support and enhanced entry screen layouts that even further improve usability.
According to First Bank's Jon Moen, Product Manager, Treasury Management, the CASHplus standard modular system offers significant advantages to the bank's corporate clients. "Usability is a key benefit of CASHplus Version 3.8," he explains. "The module for ACH has the same look and feel as the systems for wire, book transfer and positive pay which simplifies the training process and allows users to more easily capitalize on the solution's benefits. Also, the upgrade is a stepping stone that well-positions First Bank to adopt future CASHplus innovations including mobile."
Moen added that the flexibility of CASHplus enables customers to implement segmentation and segregation of duties at an individual employee level. He continued, "The granular nature of CASHplus means that customers are not forced into a one-size-fits-all approach. CASHplus is a scalable solution that allows us to address the needs of our customers now and as they grow."
First Bank runs CASHplus through Fundtech's data center and relies on Fundtech's help desk to support the bank in addressing any unique customer challenges.
Chris Zingo, Global Head of Sales at Fundtech, says, "CASHplus Version 3.8 allows regional banks like First Bank to deliver streamlined cash management products and services on par with what the largest players in the industry offer. Having the ability to offer a custom and personalized user experience to corporate clients is a major differentiator for banks that strengthens existing client relationships and facilitates further growth."
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, Fundtech's customers benefit from lower operating costs and an enhanced end-user experience through integrated and feature-rich solutions. The firm's major product lines include: 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. The firm is also the world's largest service bureau operator. 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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