First American Bank has selected Fundtech's cash management package to automate its fund transfer processing.
The bank will implement Fundtech's Access, Payplus USA and ReconStar solutions to provide corporate customers with a complete end-to-end transaction processing system. Companies will be able to use the solution to check balances and automatically debit funding accounts.
Alan Bruton, vice president, manager, cash management for First American, says: "The tremendous growth of customers on our cash management service led us to seek a real-time and fully integrated solution set for its transactions."
The funds transfer room currently handles 225 in/out transactions per day, but the bank estimates that number will more than double to roughly 500 by the end of 2002. It also expects the number of First American's corporate customers, now approximately 200, to double during that period.