Fundtech Builds on its Success with Eight New ASP Clients

Jersey City, N.J. - 16 October 2006

Fundtech Ltd. (NASDAQ: FNDT), a leading provider of end-to-end corporate banking software and services, today announced that they have added eight new customers to their established ASP (Application Service Provider) client base of more than 80 financial institutions in the U.S.

Fundtech’s expanding ASP client list for its PAYplus USA and CASHplus payments and banking solutions now includes: Colorado Capital Bank, Castle Rock, CO; Community Bank System, Dewitt, NY; Independent Bankers Bank, Lake Mary, FL; Doral Bank, San Juan, PR; First Bank, Hazelwood, MO; TierOne Bank, Lincoln, NE; a bank in Montgomery, AL; and a bank in Denver, CO.

Fundtech offers a full suite of in-house and ASP solutions and is one of the few vendors to support their own internal ASP operations. Services include: payments, cash management, reconciliation, disaster recovery, and post-trade securities processing.

“The addition of these eight banks to our ASP solutions client list is just our most recent milestone,” said Mike Sgroe, Fundtech’s President and COO. “The ASP offering is a key part of our overall strategy – we believe giving institutions a choice allows them to design solutions which best fit their own and their customers' needs. Increasingly, we see banks finding it more efficient to allow a trusted, experienced vendor to handle their hardware and maintenance up keep. That need for experience is our greatest strength; because we both developed and manage our ASP, and because we have a proven and time tested record in the industry.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development