Fundtech, a provider of global transaction banking solutions, has announced that it has signed a strategic partnership with NEC and its subsidiary Decillion Group, a Singapore-based SWIFT service bureau focused on the financial services industry.
The agreement extends Fundtech's global service bureau capabilities with physical presence in the Asia-Pacific region, adding to its existing service bureau operations in North America, the United Kingdom, and Switzerland. Fundtech will now have the capability to offer financial institutions and corporations a single global relationship with local support and service.
Decillion Group, established in 1995, provides software solutions to the financial services industry on both an in-house and service bureau (Software as a Service) basis. With established local offices in Australia, China, Hong Kong, Indonesia, Malaysia, Thailand and Vietnam, Decillion operates the largest SWIFT service bureau in Asia Pacific with 130 clients from 22 countries. In July, the company's flagship product MAPS was awarded the SWIFTReady Payments 2012 label, and the SWIFTReady Financial EAI 2011 label last year.
Fundtech currently operates the world's largest SWIFT service bureau providing financial messaging to over 600 financial institutions and 75 corporations. The company has been awarded the SWIFTReady Connectivity Best Practice label, one of only 10 services bureaus to achieve this recognition.
As part of the strategic partnership, Decillion will offer Fundtech's SWIFT messaging and Compliance Filtering software in its service bureau. There are also plans to offer Fundtech's extensive portfolio of products through Decillion's service bureau in the future. With the establishment of this alliance, Fundtech will have access to the Asia-Pacific market and the capability to offer financial institutions and corporations a single global contract with local support and service. The combined network and expertise of both partners will create a leading global service bureau platform that will provide customers with high quality and cost-effective SWIFT connectivity.
Commenting on the agreement, Gil Gadot, president of Fundtech Asia-Pacific said: "The strategic partnership agreement with NEC and Decillion will provide Fundtech clients with the ability to have a global service level agreement (SLA) with local support and service. Working together we will offer financial institutions and corporations the highest quality, most reliable SWIFT connection in the industry. We are delighted to partner with NEC and Decillion to expand our business throughout Asia-Pacific leveraging their organization throughout the region."
According to Thomas Lee, CEO of Decillion: "Our partnership with Fundtech will enable us to work with a world-class organization offering their well-known products to financial institutions and corporations throughout the region. We look forward to partnering with Fundtech."