Fundtech’s BBP and VocaLink Partner to Offer SWIFT Services Throughout Europe
Jersey City, N.J. and Baden, Switzerland, December 07, 2009 –
Jersey City, N.J. and Baden, Switzerland, 7th December, 2009, BBP, the world’s largest SWIFT service bureau and a division of Fundtech Ltd. (NASDAQ: FNDT), announced that it has partnered with VocaLink, the international payments specialists, to deliver a comprehensive SWIFT connectivity solution to banks and their corporate clients throughout Europe. This new service is an extension of VocaLink’s Service Bureau, and will provide a low cost, hosted connectivity service to SWIFTNet.
The service removes banks’ in-house operational costs of managing multiple bank relationships whilst enabling them to benefit from economies of scale. Corporate customers will benefit by gaining easier access to their chosen payment service provider and banks through a single access point for all of their payments, regardless of the format. This approach allows companies to gain total visibility of their cash positions on accounts across the globe.
Per Trifunovic, CEO of BBP, comments: “Hundreds of customers in over thirty countries around the world are currently benefiting from BBP’s reliable, economical and scalable SWIFT service bureau. Our partnership with VocaLink allows us to expand upon this throughout Europe, bringing the benefits of outsourced SWIFT connectivity to a larger community of users.”
Fred Bär, Managing Director for Euro Services and Channels at VocaLink, comments: “By offering SWIFT capabilities and standards with BBP, VocaLink’s customers will benefit from a single route to SWIFT. This greatly reduces the operational overhead of managing SWIFT internally by outsourcing to SWIFT certified specialists, enabling banks to focus on their core business. As a result, we are able to fulfill the highest requirements in terms of stability, availability and security at the same time.”
The partnership with BBP strengthens VocaLink’s core offering that provide its customers with high volume, resilient, reliable payments processing in a cost effective environment. The collaboration will also enable VocaLink to offer greater flexibility for designing efficient migration and payments consolidation strategies for banks, allowing them to comply with SEPA rules and reap the benefits of cost reduction and improved control.
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About Fundtech
Fundtech (NASDAQ: FNDT), was founded in 1993, and is a leading provider of software and services to banks of all sizes around the world. Payments systems include wire transfers, ACH origination, cross-border payments and remittance. Cash management systems are designed for large corporate through small business clients. Fundtech operates the world’s largest SWIFT service bureau. We offer an extensive line of financial supply chain applications including electronic invoice presentment and supply chain financing. And we are the leading provider of CLS systems to the world’s largest banks. More than 1,000 clients throughout the world rely on Fundtech solutions to improve operational efficiency and provide greater competitiveness through innovative business-to-business services. For more information, visit www.fundtech.com.
About BBP AG
BBP AG, a subsidiary of Fundtech, Jersey City, USA, is a software house specialized in the « integration of interbank applications » and has earned an excellent reputation in the banking industry. BBP’s most important goals are product reliability and long-term, successful cooperation with clients and partners. The product range includes the IGTplus (Interbank Gateway) software developed by BBP and encompasses system solutions for the Interbank Applications SWIFT (FIN, FileAct, InterAct), SIC, euroSIC, SECOM, SWX, virt-x and FIX-Protocol as well as integration modules for host connections (APIs) and authentication devices. In addition BBP operates an Interbank Service Bureau, which provides banks access to SWIFT, SIC, euroSIC, SECOM, virt-x and brokers as well as to value added services for transaction filtering and reconciliation (Corona). With more than 200 customers from over 30 countries and an average above 100’000 SWIFT Messages / day, we are operating the world’s number 1 SWIFT Service Bureau. Please visit www.bbp.ch for more information.
About VocaLink
VocaLink is a specialist provider of transaction services to banks, their corporate customers and Government departments. It processes domestic and international automated payments and provides ATM switching solutions. On a peak day, the VocaLink automated payment platform processes over 90 million transactions and over half a billion in a month. Its switching platform connects the world’s busiest ATM network of over 60,000 ATMs. Its Real-Time Payments platform provides the central infrastructure for the UK Faster Payments service. VocaLink is working with BGC to provide outsourced processing for the majority of Sweden’s domestic payments. Having pioneered electronic payments for over four decades, many of the world’s top banks and their corporate customers rely on VocaLink to meet their transaction needs. Its processing services offer banks reach throughout the Single Euro Payments Area (SEPA) and beyond; and are complemented by value-added services that leverage industry expertise and technical capabilities. Please visit www.vocalink.com for more information.
Forward Looking Statements:
This news release contains forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, projections of revenues, income or loss, capital expenditures, plans for growth and future operations, competition and regulation. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted or quantified. When used in this Release, the words, "estimates," "expects," "anticipates," "believes," "plans," "intends," and variations of such words and similar expressions are intended to identify forward-looking statements that involve risks and uncertainties. Future events and actual results could differ materially from those set forth in, contemplated by or underlying the forward-looking statements. The factors that could cause actual results to differ materially from those discussed or identified from time to time in Fundtech's public filings, including its Annual Report on Form 20-F for the year ended December 31, 2008, including general economic and market conditions, changes in regulations and taxes and changes in competition in pricing environment. Undo reliance should not be placed on these forward-looking statements, which are applicable only as of the date hereof. Fundtech undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances that arise after the date of this Release or to reflect the occurrence of unanticipated events.
Press Contacts:
Fundtech
Metia Inc.
(UK) Chanda Gathani
Tel: +44 (0) 20 3100 3605
chanda.gathani@metia.com
Corporate Contacts:
George Ravich – Fundtech Ltd.
Tel: +1-201-215-6530
george.ravich@fundtech.com
Bruno De Biasio - BBP
Tel: +41 56 203 9630
info@bbp.ch
VocaLink
Hotwire
Scott McLean
Tel: 020 7608 2500
vocalinkuk@hotwirepr.com
Corporate Contact:
Deborah Souter, VocaLink Limited
Tel: 0870 920 8651
deborah.souter@VocaLink.com
