Community bank sees growth through market segmentation
Jersey City, NJ, May 4, 2006 — Fundtech Ltd. (NASDAQ: FNDT), a leading provider of end-to-end corporate banking software and services, today announced that First National, a subsidiary bank of FNB Corporation (Christiansburg, VA) has gone into live production with CASHplus, Fundtech’s premiere cash management system.
First National is a community bank that sees an opportunity for growth by targeting under-served market segments in their operating area with customer-centric cash management services. They chose CASHplus because of its ability to easily develop uniquely tailored cash management services across their client segments.
“We plan to provide a different look, feel and offering of services tailored to each of our customer segments” said Laurie Knowles, Vice President of Cash Management Services at FNB Corporation. “We outgrew our previous cash management system, and were looking for a new system that would enable us to implement our growth strategy. CASHplus allows us to offer our clients a one-stop-shop service that is rich in functionality.”
Michael Sgroe, President and COO of Fundtech said: “We are delighted that First National has gone live with their new cash management system. We continue to see how CASHplus is helping community banks compete more effectively with the larger banks in their market. We look forward to working closely with FNB team as they expand their business.”