London, 28 January, 2004 - Fundtech Ltd. (NASDAQ: FNDT) a leading provider of payments, settlement and cash management software and services, announced today that Banco Popular EspaÃ±ol, S.A., (BPE), the third largest banking group in Spain, has chosen Fundtech's Global PAYplus to replace its existing payment systems.
BPE is seeking to improve its operating efficiency by increasing its process
automation and by consolidating several payments systems into a single payments platform. In addition, Global PAYplus offers BPE the ability to quickly tailor its payments-related services to the unique needs of their corporate clients - providing a new level of customized services that is expected to help grow service fee revenue. Implementing Global PAYPlus also enables BPE to address and adapt to legislation such as requirements for Euro processing and SWIFT messaging.
"In today's highly competitive markets, banks must be able to offer their clients customized services with a high level of efficiency. We welcome BPE as a new client and look forward to working with them on reaching their strategic goals," said Michael Sgroe, Chief Operating Officer of Fundtech Corporation.