Fundtech Ltd. (NASDAQ: FNDT), a market leader in global transaction banking solutions, announced that Australia and New Zealand Bank (ANZ) has selected Global CASHplus® as their new cash management solution and plan to deploy it in eleven countries throughout Asia-Pacific. The bank plans to integrate Global CASHplus with their current payments platform, Fundtech's Global PAYplus®.
According to Nigel Dobson, Global Head of Payments & Cash Management at ANZ: "Global CASHplus will enable us to provide our multinational corporate clients with the most advanced cash management services available. They will benefit by having a consolidated view of their available funds across the region and will have the convenience of managing their cash through a single system. Combined with Global PAYplus, ANZ will offer the market the most compelling Transaction Banking services available. Having a single provider for these solutions makes integration easier and will result in higher levels of STP (Straight Through Processing)."
Gil Gadot, MD of Fundtech Asia said: "We are delighted that ANZ has selected Global CASHplus for their multi-country cash management system. Integrating it with Global PAYplus will provide the bank with a competitive edge because it enables them to offer their multi-national corporate clients a single cash management system that will improve liquidity management along with tightly integrated payments capabilities."
Global CASHplus is Fundtech's modular cash management system that combines a complete cash and liquidity management system with extensive financial supply chain functionality. It has been specifically designed for multi-country deployment.
Fundtech has been a major player in the Australian banking business for the past ten years. Three of the top four Australian banks currently use Fundtech payments systems in their international payments infrastructure.