JERSEY CITY, NJ, April 15, 2002 - Fundtech Ltd., a provider of global electronic payments, settlement and cash management solutions (NASDAQ:FNDT), will showcase its "Patriot Package" solution, along with a full line-up of other products and services, at the National Automated Clearing House Association's NACHA Payments 2002 conference in Dallas,Texas, April 14-17.
Fundtech's Patriot Package automates what for many banks is a manual process of ensuring that incoming and outgoing payments comply with the USA Patriot Act. The process can be time-consuming, expensive and, if errors are made, damaging. With the new USA Patriot Act to go into effect this April 24, failure to comply also comes with significant fines.
Fundtech's solution is fast, streamlined, accurate and reliable - all of which is achieved without adding staff.
Fundtech's Patriot Package is fully up-to-date with the Treasury Department's Office of Foreign Asset Control (OFAC) list. Combined with Fundtech's WireHouse data management product that warehouses all payment information and allows for easy retrieval, these two capabilities allow banks to monitor payments as they are being made as well as research past payment activities. WireHouse is part of the company's family of industry-leading payments solutions that will also be demonstrated at the conference.
"We think the security and regulatory themes of this year's conference offer us the opportunity to present solutions that help banks meet the increased needs posed by the Patriot Act," said GM Stetter, EVP, Corporate Marketing. "In addition to compliance with the Patriot Act this package improves customer service by facilitating data retrieval and improving response times."
In addition, the company will discuss the milestones it has achieved and ways in which it is helping financial institutions realize greater efficiencies and cost savings through improvements in payments and cash management.
Fundtech staff will be at booth #219 to discuss and demo products that include:
ACCESS.Pro* - Fundtech's next generation cash management solution, which
leverages advanced technologies, efficient system architecture and progressive functionality to provide corporate cash management services for a global marketplace.
PAYplus USA* - The leading funds transfer solution for financial institutions in the United States. Combining features such as an enhanced user interface, superior throughput performance, platform and database independence and full Internet functionality, PAYplus USA helps financial institutions manage payments more efficiently and cost-effectively.
Fundtech Banker* - Fundtech's global cash management solution for the Microsoft Windows NT platform. A cost-effective option that enables financial institutions of all sizes to offer leading-edge cash management services.
ReconStar - A comprehensive reconciliation and transaction-matching solution, which enables financial institutions to reconcile internal accounts and provide account reconciliation services for their customers.
