Fundtech Ltd. (NASDAQ: FNDT), a leading provider of end-to-end corporate banking software and services, today announced a strategic alliance with Systar (Bloomberg: SYSR NM), the leading provider of Business Activity Monitoring (BAM) solutions, to incorporate comprehensive Systar dashboard controls into its Global PAYplus payments solution.
Systar's BAM solutions have recently been rated as a "strong positive" by Gartner in its recent publication, "Marketscope for Business Activity Monitoring Platforms, 3Q 06".
The partnership will allow Fundtech clients who manage domestic, cross border, and global payment operations to achieve higher levels of operational control and customer satisfaction while driving down costs.
Global PAYplus supports global payments operations that include a complex mixture of intersecting transaction and bulk file payment feeds. These originate from customer-facing and internal bank systems, automated and manual processing steps, and regulatory interdiction completed within the tight constraints of customer service level agreements. Global PAYplus also supports banks as they work to consolidate to one, or a few payment platforms, and ensure compliance with new industry initiatives such as the Single European Payment Area (SEPA) and Target 2 - both of which, change the processing ground rules.
With an increase in competition as well as complexity, there is the need for banks to be able to identify and anticipate potential problems early. Banks that have implemented BAM gain the ability to identify which payments are at risk of missing internal and external deadlines in real-time, enabling managers to take immediate corrective action.
"Fundtech's Global PAYplus, was designed to provide end-users and system managers with real-time operational information," says Joe Mazzetti EVP Corporate Development. "Our alliance with Systar represents the integration of two 'gold standard' products. This partnership will allow olow our is partnership will allow olow our clients to realize a new level of business performance measurement to improve customer service and reduce costs in their global payment operations through tailored management dashboards."
Laurent Van Huffel, EVP of North American Operations for Systar said "This alliance with Fundtech will provide customers real-time control over payments processes to improve global straight-through processing rates, reduce processing costs and avoid penalties for missing cut-offs, significantly improving overall staff and operational efficiency."
Systar BAM solution for Payments is used by business analysts, business operations managers and LoB executives to monitor payment process execution through each business step. By leveraging Systar's BAM portfolio, customers can identify abnormal transit times, volume and reject rates and measure business performance by clearing house, reserve bank, customer, sending party and region. By doing so, customers can better manage operational risks and workforce efficiency.
Systar has the largest installed base of BAM solutions in the banking and financial services industry being used to monitor end-to-end, key business processes such as payments, Image Deposit Cash Letter & Exchange, loan origination and trade processing.