Jersey City, N.J., August 5, 2004 - Fundtech Ltd. (NASDAQ: FNDT), a leading provider of payments, cash management and settlement software and services, today announced the signing of an OEM agreement with First Data Government Solutions, LP (formerly govONE Solutions, LP), that will embed its tax payment solution, remitONE, into Fundtech's CASHplus cash management system. Banks who use Fundtech's CASHplus will now be able to offer their corporate clients an easy-to-use, seamless and secure method for paying all federal, state and most local taxes.
First Data Government Solutions' remitONE product supports more than 1,700 tax types to 175 individual tax authorities. It also ensures that each payment complies with the latest requirements of each tax authority. The tax payment service is a convenient way to electronically pay business taxes eliminating formatting requirements, check writing, coupon payments and visits to local bank branches.
"Our relationship with First Data Government Solutions enables Fundtech to offer its clients the most advanced tax payment system available," said Paul Campbell, senior vice president of cash management for Fundtech. "We believe this will make our bank clients more competitive in the market place by allowing them to offer a cash management service with a comprehensive business tax payment service that is convenient and easy to use."
"We are pleased to partner with Fundtech because they are a leading cash management solution provider," said Neil Bern, director of business development for First Data Government Solutions. "Our unique, joint solution offers the market a highly competitive cash management system that will help banks acquire and retain corporate customers."