Fundtech (Nasdaq:FNDT), a market leader in global transaction banking solutions, announced today the introduction of First ServiceBureau, coordinating the firm's six owned and operated service bureaus to deliver global transaction banking services.
FIRST ServiceBureau upholds a standard of service excellence for outsourced financial transaction processing across the globe.
Fundtech is one of the world's largest service bureau providers with operations in Switzerland, the United Kingdom and United States, and over 700 customers in 30 countries. Across these facilities, the company offers a wide range of advanced services that are available to customers (both financial institutions and corporations): financial messaging (SWIFTNet connectivity), transaction monitoring (anti-money-laundering), reconciliation (cash, securities, confirmation, investigations), data transformation and archiving, payment processing (US wire and ACH, UK Bacs), cash management, and electronic invoice presentment.
Operating as a consolidated business unit throughout Fundtech, FIRST ServiceBureau offers the market an unmatched level of service and reliability as well as customer support on a global and local level. A global client can establish a global service level agreement (SLA) and have the ability to reach a local customer service representative 24 hours a day, seven days a week.
FIRST ServiceBureau addresses the fast-growing trend of globalized business process, and the need for more connected and integrated operations, especially when they are outsourced to a service bureau.
FIRST ServiceBureau maintains the highest standards in quality, reliability, and security certification around the world. The Swiss operation has received SAS-70 Type II certification, Swiss Financial Market Supervisory Authority (FINMA) certification, and SWIFT's highest designation for service bureaus - the SWIFTReady Connectivity label - which has been achieved by only four service bureaus in the world. The US-based service bureau receives annual SAS-70 Type II audits and is regularly audited by the Federal Financial Institution Examination Council (FFIEC).
Commenting on the announcement, Reuven BenMenachem, Fundtech CEO said: "Aligning all of our service bureau operations makes Fundtech one of the world's largest service bureau providers. FIRST ServiceBureau offers the market a wide range of transaction banking services across the globe with reliable and consistently high quality service levels."