JERSEY CITY, N.J., May 22, 2014 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, is proud to announce that ANZ and Fundtech have received the Asian Banker's Best Corporate Payment Project Award for 2014. The award was given for the bank's implementation of Fundtech's global payments and global cash management solutions, to facilitate the bank's strategy to become a super-regional player in the Asia-Pacific market.
Using Fundtech's solutions, ANZ enhanced cross border payment capabilities and was able to meet requirements for a multi-office, multi-country and multi-currency payments solution. The solution was able to scale to meet the requirements of the bank's aggressive growth strategy, and to support transactions coming from multiple channels and various account types (including demand deposit accounts, cash management virtual accounts, multi-currency accounts, and nostro and vostro accounts). As a result of the initiative, ANZ has positioned itself as a market leader for corporates to do business with across the entire Asia-Pacific region.
"We are delighted that ANZ has been named by the Asian Banker as the Best Corporate Payment Project for 2014," says Gil Gadot, President, Fundtech Asia-Pacific and Head of Global Cash Management. "Because of an unwavering commitment to expanding the bank's business, and the foresight and willingness to make the necessary changes to its payments infrastructure, ANZ has become a market leader for clients who trade and move capital in the region."
"Our payments strategy in Asia has been to progressively implement common platforms across all countries combined with leveraging our key operational hubs for efficient scale processing," says Nigel Dobson, General Manager Payments Transformation for ANZ. "Working with Fundtech, we have rolled out both Global PAYplus for high value and cross border transactions as well as Global CASHplus for cash management services in our key strategic locations. ANZ's increasing ability to deliver higher levels of automated processing has been key to our success and will deliver significant benefits to our transactional businesses and their many customers."
"ANZ and Fundtech have implemented a complex payments and cash management solution, enabling high-value, end-to-end centralized payments processing and cross-border payments. We are pleased to recognize them for the execution of this challenging payments project across the region," says Foo Boon Ping, Managing Editor, The Asian Banker.
The Technology Implementation Awards, conducted by The Asian Banker since 2006, are designed to recognize achievement and identify emerging best practices in technology implementations within the Asia-Pacific region. This awards program, refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind. A stringent three month long evaluation process determined the winners from across Asia Pacific, Middle East and Africa.
About Fundtech
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, Fundtech's customers benefit from lower operating costs and an enhanced end-user experience through integrated and feature-rich solutions. The firm's major product lines include: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. Thousands of financial institutions and companies worldwide rely on Fundtech's innovation to improve operational efficiency, increase revenues, and provide greater competitiveness through business-to-business services. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit www.fundtech.com.