Wednesday August 11, 5:42 pm Eastern Time
Company Press Release
Fundtech and Compaq Expand Partnership into the UNIX Market
Fundtech announces its UNIX Payments System for Compaq's Alpha Platform
JERSEY CITY, N.J.--(BUSINESS WIRE)--Aug. 11, 1999--Fundtech Ltd. (Nasdaq:FNDT - news) announced today that it expanded its agreement with Compaq Computer Corporation to jointly offer a UNIX-based electronic payments solution for Compaq's Alpha hardware platform, which is currently being used in hundreds of banks worldwide. Over the past two years, Fundtech and Compaq have successfully teamed to globally offer Fundtech's PAYplus RTGS electronic payments product as part of Compaq's Windows NT-based Non-Stop Payments Factory. Under this expanded partnership, Fundtech and Compaq will now be able to offer electronic payment solutions to banks on either Windows NT or UNIX platforms, and will offer these solutions to both domestic and international banks.
``Electronic payments is an important element in Compaq's Non-Stop e-business solutions strategy,' said Joseph Lott, Director of Wholesale Banking, Compaq Services. ``Extending our partnership with Fundtech to include a UNIX-based electronic payments solution allows us to have a greater impact on, and to better meet the payment needs of, banking institutions around the world.'
Through this agreement, Compaq and Fundtech will offer a Tru64UNIX version of its payments system for Compaq's Alpha platform. Alpha servers support multiprocessing and clustering, positioning them as viable platforms for mainframe-class applications.
``Adding a UNIX-based payments solution is an important element in our strategy to expand our leadership in electronic payments to the high-end marketplace. With over 170 installations of our NT- based software worldwide, we see the migration to UNIX as significantly extending our payments products leadership to include the world's top-tier banks,' said Reuven Ben-Menachem, Fundtech's Chairman and CEO.
Fundtech is a leading provider of software solutions that facilitate e-commerce and e-banking by enabling businesses and their banks to electronically manage cash, process payments and transfer funds. The Company's client/server and Internet software products automate the process of transferring funds among corporations, banks and clearance systems and enable businesses to manage global cash positions efficiently and in real-time. Fundtech's proprietary innovative software architecture, based on the Windows NT and UNIX operating systems, provides modular, scalable and secure solutions. Its solutions have been sold to more than 300 financial institutions across the globe.
Certain statements contained herein, including statements regarding the development of the Company's services, markets, product functionality and year 2000 compliance and future demand for the Company's products services and other statements regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include risks and uncertainties; consequently, actual results may differ materially from those expressed or implied thereby. Factors that could cause actual results to differ materially include, but are not limited to, variability of quarterly operating results, dependence on key personnel, ability to effectively manage growth, risks associated with rapid technological advances, risks associated with possible acquisitions, any integration of those acquisitions into the company's present business, risks associated with the Company's strategic partnerships, various project associated risks, including internet projects, substantial competition, risks associated with intellectual property rights, risks associated with international operations and other risk factors listed from time to time in the Company's filings and reports.
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Contact:
Fundtech Ltd., Jersey City
Michael Carus
Executive Vice President & CFO
201/946-1100
or
Morgen-Walke Associates, New York
Connie Bienfait/Cathy Dawson
Press: Rob Ingram
212/850-5600
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