US fintech firm Fundtech has launched TransactCentral, a J2EE component-based development platform for corporate e-banking, in the European market.
TransactCentral was developed by India's CashTech Solutions which was acquired by Fundtech in the fourth quarter of 2004. Until now the platform was only available in Asian markets, where it is used by seven major financial institutions. Fundtech is now introducing the product to other world markets, beginning with Europe.
FundTech says the Java-based TransactCentral platform is targeted at banks that require a high degree of customisation. The system has a service oriented architecture (SOA) and is Web Services ready, allowing for easy integration with back office applications as well as enterprise resource planning (ERP) systems.
Reuven Ben Menachem, Fundtech CEO, comments: "With the addition of TransactCentral, Fundtech is now able to expand its coverage in corporate electronic banking to include global markets and large banks that require extensive customisation."