JERSEY CITY, NEW JERSEY, April 7, 2005 â Fundtech Ltd. (NASDAQ: FNDT), a leading provider of end-to-end wholesale banking software and systems, today announced significant enhancements to PAYplus USA, the leading payments system in the US. With these new features, banks can expand their breadth of payments services, improving customer service and their bottom-line results.
PAYplus USAâs new Management Reporting Tools module extracts both transactional and user information, making it possible to more effectively set pricing policy; make important staffing decisions based on peak and non-peak hours; and offer enhanced reporting granularity to customers, such as tailored usage information. With these new capabilities, banks will be better able to develop new revenue streams, and comply with regulatory obligations.
Additional reporting functions include: the ability to analyze STP rates in order to improve them; measure transaction duration in order to track service level agreements (SLAs) with precision; and track security exceptions, some of which are required by Sarbanes-Oxley.
"The enhancements to PAYplus USA announced today add further strength to this very successful product, with an installed base of more than 130 financial institutions," said Brian Jou, Fundtechâs Senior Vice President of US Payments Systems. "Fundtech customers now have the ability to more easily comply with new regulatory requirements, and make better business decisions by harnessing information that had not been available until today."
In addition to the new Management Reporting Tools module, Fundtech also announced enhancements to the PAYplus USA browser, and introduced a SWIFT FX module and a Private Email Notification (PEN) module.
The PAYplus USA Browser module enhances the industryâs only browser-enabled payment system with additional functionality and security features. New features include SDF file import to branches, eliminating re-keying of wire transfer information; customizable end-of-day cut-off times by method of payment and by branch, offering better service to preferred customers; and the option to require branch and customer use of templates, that will reduce errors and improve security.
The new SWIFT FX module extends the existing SWIFT features already available in PAYplus USA. Financial institutions will now be able to process both incoming and outgoing foreign exchange transactions more seamlessly, and be able to research all of their wires in one system.
PAYplus USAâs new Private Email Notification (PEN) module is a secure notification system (SNS) that uses existing security standards. With this module, messages containing confidential information are kept secure when transmitted, and users are properly authenticated when accessing the email system. PEN enables banks to automatically send secure email advice notifications to their customers for both incoming and outgoing messages.