Fundtech Teams Up With PROFILE SA to Meet Local Demand

Fundtech Ltd. (NASDAQ: FNDT), a leading provider of global electronic payment, settlement and cash management solutions, has appointed PROFILE SA as a distribution partner in South East Europe. Based in Athens, PROFILE is a provider of world class software solutions for the financial industry. The company will market and implement Fundtech’s global payments and liquidity management solutions, as well as corporate cash management products which address the Financial Supply Chain.

Initially, PROFILE will be the outlet for Fundtech’s SEPA offering in the area. With Romania and Bulgaria joining the European Union this year, both countries will be looking to ensure they meet European Central Bank (ECB) guidelines for payments processing. In addition, the distributor will act as re-sellers for Fundtech’s financial supply chain products, Transact Cash In and Transact Cash Web, which improves bank-to-corporate working capital efficiency. Fundtech’s SWIFTNet Service Bureau solution will also be available enabling corporate connectivity to SWIFT.

“We selected PROFILE as a preferred partner because the company has extensive local knowledge of banks’ needs in these countries and a strong track record in selling to these markets,” commented Joe Mazzetti, EVP, Corporate Development, Fundtech. “PROFILE has proven its credentials as a tier-one software provider for institutions in geographies we see as key to our continued expansion. We can also benefit from its development, implementation and sales resources in locations which would have been less accessible without the local knowledge. This expertise has already led to a number of new prospects.”

Mr. Charalambos Stasinopoulos, CEO of PROFILE stated, “We are excited to be able to offer Fundtech’s market leading product suite to our customers. Fundtech has worked with the most innovative banks around the world for many years - this experience and the company’s continued dedication to meeting and exceeding market requirements in Europe, such as SEPA, is attractive to many institutions we work with in Greece, Cyprus, Romania and Bulgaria. PROFILE via this partnership expands its existing portfolio to offer high end systems for cash management to large banking organizations in the region, and along with its long-standing experience, to provide the support and consultation they need.”