Jersey City, NJ, June 29, 2005 â Fundtech Ltd. (NASDAQ: FNDT), a leading provider of end-to-end corporate banking software and services, today announced that four additional banks have purchased CASHplus, its award-winning cash management system. FNB Christianburg of Christiansburg, VA; Manufacturers Bank of Los Angeles, CA; M&T Bank of Buffalo, NY; and TexasBank of Ft. Worth, TX, all signed contracts in the first quarter of 2005.
CASHplus is a cash management platform that enables banks to tailor services, fees and branding to the unique needs of various market segments. It offers extensive self-service customer administration features and highly advanced reporting and audit modules.
Additionally, both Manufacturers Bank and TexasBank will utilize Fundtechâs end-to-end solution by connecting CASHplus to Fundtechâs PAYplus USAâ¢, the market leading wire transfer system. By using these two products in combination, banks are able to more easily integrate and streamline their services, offering their corporate customers faster response times and greater depth of information reporting.
Michael Sgroe, Fundtechâs President and COO commented: "The market is responding very positively to our entire product suite. Bankers are taking advantage of Fundtechâs end-to-end solution, delivering to their customers a broader range of options and services combined with improved straight through processing."