NACHA News: Fundtech Signs Eight New Banks to Its Cash Management Solution

Fundtech Ltd., a provider of end-to-end corporate banking software and services, announced that it has signed eight new customers for its CASHplus cash management solution. Recent research from market consulting firm Celent, positioned Fundtech's CASHplus as a leading solution in its 'Evaluating the Vendors in Online Corporate Cash Management' report (December 2006). Fundtech's newest CASHplus clients include: RBC Centura ($23 billion in assets; Raleigh, N.C.), Rabobank, N.A. ($5 billion in assets; El Centro, Calif.), and Doral Bank ($9.2 billion in assets; Catano, Puerto Rico)."We chose Fundtech's CASHplus solution because it allows us to be more competitive with large banks on the West Coast and globally; it also enhances our position to attract small business customers," said Gary Robles, SVP, division manager treasury services, Rabobank N.A. "We were experiencing difficulty gaining market share within the small business segment due to increased competition in our region. CASHplus' market segmentation features allow us to provide a unique offering of cash management services tailored to the needs of our small business and large corporate customers at competitive rates. Fundtech's system enables us to customize text, terminology, workflow, advertisements, and broadcast messages for each of our different market segments. It also allows us to keep our clients on one system and simply add additional services as they grow. Previously, we had to switch them to a different system which was disruptive to the bank and the customer."

CASHplus is an online banking platform that enables financial institutions to tailor services, fees and branding to the unique needs of various market segments. It offers extensive self-service, customer administration features, highly advanced reporting, multifactor authentication and audit capabilities.

Michael Sgroe, Fundtech's president and COO, commented: "The addition of these eight banks to our client list is just our most recent in a long list of milestones. The market continues responding very positively to CASHplus and our entire product suite. Bankers are taking advantage of Fundtech's solutions, delivering to their customers a broader range of services combined with improved return on investment."