JERSEY CITY, N.J., March 30, 2011 (GLOBE NEWSWIRE) — Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, announced the results of a survey taken among bankers on the topic of mobile corporate banking. The results reveal that developing a mobile banking channel for their corporate clients is a top priority; and many think it has the potential to become an important competitive differentiator. By far, the major concern is related to security and fraud issues.
Key Findings
The survey of 267 bankers was fielded in March and has the following key findings:
54% say that developing their mobile corporate banking services is a top or very important priority
42% rated their customer’s interest as either extremely or very high
31% believe that mobile corporate banking will become a competitive differentiator for their bank; however 38% see it becoming just another service delivery channel
77% think fraud/security concerns are the biggest barriers to growth in mobile corporate banking.
George Ravich, Chief Marketing Officer of Fundtech, comments: “The results of the survey show strong interest in developing the mobile corporate banking channel. One interesting dichotomy was revealed: while only 15% of those bankers surveyed see mobile corporate banking as a revenue opportunity, our recent survey done in partnership with Aite Group revealed that 49% of corporate treasurers are willing to pay for such services.�This suggests that banks may still not yet fully realize the business opportunity for mobile banking.”�
PaymentsLIVE!™ Live Video Webcast
An in-depth review of survey results will be covered during the PaymentsLIVE! live video webcast titled “Corporate Mobile Banking � Get in the Game” originating from the NACHA PAYMENTS 2011 conference in Austin, TX on April 4th at 12:30 PM EDT. Participating on the panel is:
Bank of America: Cindy Murray � Executive Vice President Global eCommerce
RSA Security: Angel Grant � Senior Manager, Anti-Fraud Solutions
Treasury Strategies: David Wexler – Principal
Fundtech: Ed Gainer � Senior Vice President, Cash Management
The panel will speak about their own mobile corporate banking initiatives and provide their recommendations to bankers on how to be successful in this fast moving market. To register for this one-hour live video webcast go to: http://www.visualwebcaster.com/fundtech11/
Fundtech recently introduced the first mobile corporate banking platform named Mobile�ACCESSplus. By adding mobile capabilities to transaction banking services banks can extend their reach with anytime anywhere availability. This new level of service and productivity will enhance customer loyalty and will become an important part of winning new business. In addition, mobile services have the ability to drive new revenue streams through new product innovation. Mobile ACCESSplus offers the opportunity to build stronger and more profitable client relationships.
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.
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, 2009, including general economic and market conditions, changes in regulations and taxes and changes in competition in pricing environment. Undue 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.
CONTACT: Press Contacts:
(UK) Chanda Gathani - Metia Ltd.
+44 (0) 20 3100 3605
chanda.gathani@metia.com
(USA) Binna Kim, Cognito
+1 646 395 6304
Binna.Kim@cognitomedia.com
Corporate Contacts:
George Ravich - Fundtech Ltd.
+1-201-215-6530
george.ravich@fundtech.com
http://bit.ly/eKqSqP
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