JERSEY CITY, N.J., May 20, 2014 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announced that Assist DD Ltd. has gone live and is realizing significant business benefits with Fundtech's Bacs payment solution, Bacsactive-IP.
Assist DD was created when land agent Fowler Fortescue spun off its collections and Direct Debit operations as a stand-alone business. Fundtech's automated Bacs payment solution was brought on board to help launch the business, delivering growth and stability. Bacsactive-IP easily met Assist DD's requirements, which included a good support network and the ability to onboard new clients quickly as the business grew. This was particularly important as any interruption in the collection of rent payments could disrupt the payment arrangements tenants had made. Now live on the solution for over one year, the company has been able to add significant new business to its book, and is confident in its ability to continue to expand easily with Bacsactive-IP.
"We previously lacked the capability to add clients easily and as such the business would not have achieved the growth it has," says James Gatward, Account Manager at Assist DD. "Further the growth would not have been handled so smoothly. All the way through, Fundtech was very supportive and helped us to ensure that any problems were sorted out."
"Onboarding a new system is a daunting task, and when customers are involved there is no room for error," says Kim Dennis, Head of Sales for Merchant Services at Fundtech. "Fundtech understands the need for strong technical support and thorough testing and training. We were proud to provide Assist DD with the confidence needed to move forward and grow their business."
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.