Fundtech (NASDAQ: FNDT), a market leader in corporate banking solutions around the world, announces the introduction of ACHplus, a software product line that includes a high-performance back-office processing solution and a web-based origination application.
The system offers a new choice to ACH originating banks - providing an extensive feature set at low cost of ownership.
Fundtech seeks to address a wide gap in the market today by providing an affordable in-house solution that's feature rich. Today's market is characterized by two extremes: low cost systems that do not offer sufficient options for financial institutions and at the other extreme, a very costly mainframe-based system that is unaffordable for all but the largest financial institutions.
Fundtech's ACHplus fills this gap with a server-based system that is scalable and offers many customizable features. Included in the new line of ACH products are:
ACHplus: The complete ACH processing solution that has Systemation, the powerful automation framework that maximizes processing efficiency while providing fast and reliable services. ACHplus' server-based technology offers the scalable performance that delivers low total cost of ownership as well as low upfront costs. It's advanced reporting capabilities give actionable insights, helping to identify new business opportunities and manage risk exposure.
OrigiNET: The easy-to-use, yet powerful ACH origination application that connects to any ACH processor. OrigiNET spans the entire range of ACH transaction types through a single solution and fits easily into existing workflows. Rapid customization lets banks configure user screens and templates to fit their customers' needs. The secure, Web-based interface includes built-in automation and risk management tools designed to reduce the frequency and severity of errors, leading to smoother operations, lower costs and faster execution.
According to Brian Jou, Fundtech's executive vice president of global products: "A recent survey of our clients reveals that ACH is considered to be the highest growth area for payments; and that offering ACH transactions to small businesses is seen as the biggest growth opportunity. With the rapid growth of ACH transactions, banks should consider how they can use these services as a competitive differentiator that can drive profits. ACHplus offers financial institutions all the features they need at a price they can afford, and will put them in control of their operations."
Fundtech further expands its extensive line of payment solutions with the addition of ACHplus. Fundtech is currently the leading provider of wire transfer systems in the United States with over 180 bank clients; the leading cross-border payments provider in Europe with over 50 bank clients; and a leading provider of consumer remittance system used by many leading Asian banks.