Fundtech Ltd. (NASDAQ: FNDT), a leading provider of global electronic payments, settlement and cash management solutions, announced today that in a benchmark test performed in collaboration with IBM, Fundtech’s Global PAYplus integrated payments platform set new throughput and performance records. Utilizing the combination of batch and real time input, the test established that Global PAYplus is sufficient to handle the high and low care (RTGS and ACH) volume requirements of any size bank, anywhere in the world.
The benchmark was requested by a large financial institution to demonstrate that Global PAYplus, a proven best of breed platform for processing individual high value payments, meets the requirements of the new UK Faster Payments scheme. This initiative, currently targeted to go live in May of 2008, demands the processing of high volumes of low value transactions in seconds. With this demonstrated performance, Global PAYplus provides the ability to support high volumes of both high value and low value (ACH) transactions on the same integrated platform.
UK Faster Payments has set a high standard for the execution of payments transactions such as internet and telephone initiated credit transfers and standing orders. By requiring end-to-end processing in seconds and the final settlement within hours, it specifies service levels which far exceed the requirements of the EC Payments Services Directive.
Running on IBM System p5 575 cluster nodes, Global PAYplus processed over seven million transactions in a sustained one hour run. Results also demonstrated the linear scalability of the solution as additional hardware was added. No limitations were identified that would prevent this solution scaling to even larger volumes.
The performance testing was conducted in the IBM Labs in Poughkeepsie, New York
“The benchmark demonstrated Global PAYplus’ ability to process over seven million transactions per hour. Deploying Global PAYplus on an IBM POWER5™ processor-based system provides customers with a high-end, scalable solution to meet the requirements set down by Faster Payments Service (FPS). This allows banks to maximize throughput. The Fundtech solution once again showcases IBM System’s ability to deliver a solution with low total cost of ownership and the highest levels of scalability, availability, and reliability,” said Scott Handy, VP, WW Marketing and Strategy, Power Systems, IBM.
Michael Sgroe, President and COO, Fundtech, adds: “The IBM benchmark reaffirms that Fundtech’s solutions lead the marketplace, allowing clients to not only meet regulatory requirements but to turn them into opportunities to improve service levels and build market share.”