Fundtech (Nasdaq:FNDT), a market leader in global transaction banking solutions, announced that it will offer access to American Express FX International Payments services to provide integrated international payments capabilities to its PAYplus USA clients.
FX International Payments offers both corporate and financial institutional clients the ability to send and receive payments in foreign currency.
Banks using PAYplus USA for domestic wire transfers will have integrated international payments capabilities with straight through processing (STP), enabling them to benefit from operational efficiency. American Express will offer competitive foreign exchange (FX) rates and fees, through its service integration with PAYplus USA as well as provide clients with access to its dedicated customer service.
With the expansion of global trade among businesses of all sizes, banks are facing increased pressure to offer efficient and reliable cross-border payment services. Against this backdrop, Fundtech is partnering with American Express enabling banks to provide their clients with access to highly automated global payments service. In addition, FX transactions offer banks a lucrative source of service fees.
Commenting on the alliance, Brett Weinhouse, Vice President and General Manager of FX International Payments, Americas for American Express said: "Our partnership with Fundtech offers PAYplus USA clients a reliable and trusted provider of international payments. Our seamless integration will provide ease-of-use and a high level of efficiency to banks."
Robert Coakley, Fundtech's Executive Vice President and head of US Payment Systems, said: "Our goal is to continually enhance the value of PAYplus USA with new features and expanded functionality. We are delighted to add American Express as an international payments provider, offering our customers more choices for their international payment needs."