Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, today announced that Accountis Ltd has been fully integrated into a new operating unit with other Fundtech subsidiaries focused on financial supply chain products and services, and as a result, has changed its name to Fundtech FSC Ltd.
Fundtech acquired Accountis in February 2008 to extend its financial supply chain product line. The change will consolidate Accountis products and personnel into an operating unit that will offer seamless integration of the company's financial supply chain solutions including corporate cash & liquidity management, electronic invoice presentment and trade services. Accountis EIP is the new name for Fundtech's electronic invoicing presentment products and services for corporates and financial institutions worldwide.
Fundtech FSC also is a leading provider of UK Bacs payments software with over 8,000 corporate users and more than 2,000 direct clients. Bacsactive-IP is the name for Fundtech's Bacs payment product suite for corporates and financial institutions in the UK.
According to Gil Gadot, managing director of Fundtech's Financial Supply Chain Services strategic business unit: "By bringing together all of Fundtech's financial supply chain solutions into a single business unit we are able to offer the market the broadest line of seamlessly integrated products and services. This emerging field will become increasingly important as banks and corporations seek new ways to improve operating efficiencies related to cash flow operations and improve liquidity management."
Dyfan Williams, Managing Director of Fundtech FSC, adds: "Offering a treasury management system with integrated electronic invoice presentment gives banks the opportunity to serve their business customers well with tools that can deliver greater efficiency and visibility. Our UK clients will gain additional benefits from our Bacsactive-IP system."
Fundtech FSC is based in Bangor, Wales in the United Kingdom.