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FNDT
23 1/2
+7/16
delayed 20 mins - disclaimer
Monday August 16, 6:54 pm Eastern Time
Company Press Release
Fundtech Announces FEDplu$ 4.0
Internet-Enabled Funds Transfer Processing System
JERSEY CITY, N.J.--(BUSINESS WIRE)--Aug. 16, 1999--Fundtech Ltd. (Nasdaq:FNDT - news) today announced the release of FEDplu$(TM) 4.0, the next generation of the Company's leading funds transfer processing software. FEDplu$ is currently one of the most widely implemented funds transfer solutions in the U.S. market, with over 150 systems sold. The new release of FEDplu$ will be available on both Windows(TM) NT and UNIX platforms.
Combining features such as an intuitive user interface, superior throughput performance, platform and database independence and full Internet functionality, FEDplu$ will be the most advanced client/server funds transfer system on the market. Its browser functionality will allow banks to extend access to funds transfer capabilities beyond the wire room to other bank departments and to the bank's corporate customers. This enhances their customers' ability to efficiently process e-commerce transactions. In addition, the new release of FEDplu$ dramatically increases payment message throughput, enabling Fundtech to address the payment needs of the nation's largest banks. The ``High Availability' features designed into the new release will allow FEDplu$ to function as a highly-reliable, mission-critical platform at banks of all sizes.
``Banks are looking to leverage the Internet as a rich client delivery channel as well as to protect their investment in client/server computing architecture,' stated Rajeev Agarwal, Senior Analyst for Wholesale Banking with TowerGroup. ``FEDplu$ 4.0 is one of the first Web-based platform and database independent funds transfer products to be introduced to the market. As a result of its market leading position and newly enhanced functionality, FEDplu$ should be of great interest to both mid-tier and upper-tier institutions.'
FEDplu$ 4.0 revolutionizes several aspects of electronic payment system performance, utilizing technologies that greatly enhance the operations of the bank's payment-related departments. FEDplu$ 4.0 utilizes a specially designed graphical user interface (GUI), which incorporates design features that make it highly intuitive, even for nontechnically oriented users. This greatly enhances the ease-of-use of the system, and increases the efficiency of the payment management process. Further, FEDplu$ 4.0 incorporates a sophisticated ``rules based' business logic, which allows users to easily set system options in a way that closely mirrors each individual bank's internal business practices. In this way, FEDplu$ 4.0 offers banks a payment system that provides high-performance functionality in both technical and operational aspects.
``FEDplu$ 4.0 will meet the processing requirements of banks all the way through the top tier of U.S. banks - giving them a high-tech, high-performance alternative to traditional, mainframe-based systems, and positioning them for truly interactive global payment processing,' noted Reuven Ben-Menachem, Fundtech's Chairman and Chief Executive Officer. ``In addition, FEDplu$ 4.0 will offer our customers a unique value proposition by combining industry-leading electronic payment capability with a fully functional Internet user interface.'
``I was extremely impressed by the product,' stated Elsa Zavala, Senior Vice President, Information Services, Citizens Business Bank. ``It will adapt easily to any new developments that we implement, and is very intuitive. The GUI design and right click features make the product essentially self-explanatory to users. The product functionality and the direction that Fundtech is taking, will help us remain at the top of our market.'
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 around 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.
(C) 1999 Fundtech Ltd. FEDplu$ is a trademark of Fundtech Ltd. All other trademarks are property of their respective owners.
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Contact:
Fundtech Ltd.
Michael Carus
Executive Vice President & CFO
201/946-1100
or
Press:
Dorfman Wellnitz & Associates
Bill Dorfman
781/235-3424
or
Investor Relations:
Morgen-Walke Associates
Connie Bienfait/Randy Hecht
Press: Rob Ingram
212/850-5600
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