Leading Midwest bank benefits from Fundtech’s scalable, flexible and customisable cash management platform
Fundtech, a market leader in global transaction banking solutions, today announced that 1st Source Bank, an early adopter of CASHplus® Version 3.8, has experienced improved client relationships and streamlined cash management services after going live with the Fundtech solution. 1st Source Corporation, parent company of 1st Source Bank, has assets of $4.55 billion and is the largest locally controlled financial institution headquartered in the Northern Indiana/Southwestern Michigan area.
A longstanding client of Fundtech with 76 banking centres in 17 counties, 1st Source Bank rolled out CASHplus Version 3.8 to strategically support the company’s expanding cash management priorities. Specifically designed to address the particular needs of regional and national U.S. banks, CASHplus delivers a turnkey solution that centralises and consolidates a bank’s cash management business on a single platform.
According to Andrea Smiddy-Schlagel, Vice President of Cash Management Services Manager at 1st Source Bank, CASHplus enables the bank to supply custom cash management service offerings to its commercial, small and micro business customers. The ability to create these tailored offerings allows the bank to provide scalable solutions that can grow with clients and address their individual needs. 1st Source Bank has a foundation of back-end processes now that can adapt to customer evolution. Also, CASHplus serves as a gateway through which the bank can offer more bundled services.
“Our bank has a longstanding relationship with Fundtech and has used many of the company’s products over time. The latest version of CASHplus, 3.8, is by far the best Fundtech has ever delivered,” explains Smiddy-Schlagel. “The company has made a concerted effort to listen to its user banks, vet priorities with the user group, release on a regular schedule and deliver beyond our expectations. This version includes some significant changes that we didn’t even realise we needed until testing the system. We can see that the groundwork is here to achieve the roadmap items they have discussed and we are excited to present these easily usable features to our end users.”
Mary Ellen Putnam, Executive Vice President of Fundtech, says, “Our newest version of CASHplus provides an improved user experience that includes revised entry screen layouts, an upgraded account transfer option and simplified permission assignment for profiles, among other features. CASHplus offers essential functionality through innovative technology. We are pleased to see the positive impact that the highly scalable solution is having on 1st Source Bank’s customer relationships and look forward to further collaborating with the bank to facilitate additional growth.”
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