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The Co-operative Bank Launches Fundtech's CASHplus; an Advanced Cash Management Solution

JERSEY CITY, N.J. - Oct. 1, 2002. Fundtech Ltd. (NASDAQ: FNDT), a leading provider of global electronic payments, settlement and cash management solutions today announced that The Co-operative Bank plc of Manchester, England is live with CASHplus(TM), Fundtech's new generation cash management solution.

The bank is well positioned to develop unique and diverse cash management services for its customers.

Co-operative Bank will be leveraging Fundtech's unique, customizable service packages which allow banks to provide solutions tailored to the needs of each market segment. In addition, they will be utilizing three CASHplus modules; Balance Reporting, Check Management (check inquiries and stop payment) and Book Transfer. In due course CASHplus will enable The Co-operative Bank to offer its
corporate customers critical banking solutions via the Web.

"We've used Fundtech's solutions for over ten years, and continue to be impressed by the company's ability to provide the most advanced services and technology that reflect what we need most to compete in the changing market," said David Sanders, EB & Payments Strategy Manager at The Co-operative Bank. "The new solution is ideal for us to create customized service packages and provide our corporate clients with new and timely products."

"The Co-operative Bank has been a great partner and we are pleased that they are in production with CASHplus, said Reuven Ben Menachem, Chairman and Chief Executive Officer, Fundtech. "The bank is truly innovative and we are confident that CASHplus is the most advanced solution to help it continue to grow its business in the competitive banking world today."