JERSEY CITY, N.J., Aug. 5, 2009 (GLOBE NEWSWIRE) -- Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, today released a report entitled "Bankers Speak - Trends and Insights in US Transaction Banking," which summarizes survey results from 80 mid-size U.S. banking executives. The survey uncovers the bankers' opinions about the challenges and opportunities they see in the market today.
Highlights of the survey are as follows:
* Seventy-nine percent believe that the banking crisis has
created growth opportunities for mid-sized institutions.
Thirty-seven percent believe there is "unprecedented
opportunity" to grow their transaction banking business now.
* Fifty percent say their bank is investing more in transaction
banking than other technology areas at this time.
* Seventy-five percent say that the most effective way to
compete in the market today is to extend personalized service
and relationships.
* Seventy-five percent see an increased amount of fraud now
versus 12 months ago; 72% have increased the amount of
resources directed to combating fraud.
* Sixty-one percent say they are increasing the number of
"hard dollar" charges for their corporate clients, reducing
the number of no-charge services.
The survey was taken in May at Fundtech's annual Client Conference during a panel discussion that included five senior bankers from: AgriBank (St. Paul, Minn.), First Bank (St. Louis, Mo.), 1st Source Bank (South Bend, Ind.), Frost Bank (Austin, Tex.) and Umpqua Bank (Portland, Ore.).
The panelists agreed that the first step in building a strategy around service is investing in product functionality that outpaces their competitors. John Baker, SVP of product strategies and treasury management at Umpqua Bank, stressed the importance of being able to offer the latest technology. "Umpqua, which recently won a large loan customer due to its investment in a breadth of treasury management services, is a good example of the ability of a mid-sized bank to compete with larger players by investing in the right technologies," Baker said.
"This survey clearly shows that there is significant opportunity for small-to-mid size banks to expand their transaction banking business; and that successful banks are expanding the level of personalized service by investing in technologies that encourage relationship-oriented banking," said George Ravich chief marketing officer at Fundtech.
The full report, including additional survey results, can be downloaded from the Fundtech website at: www.fundtech.com/library in the Reports section.
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, 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.