Etihad Airways Selects Fundtech for Payments Gateway
Deploying Fundtech as a payments gateway will provide UAE airline with reduced risk, increased efficiency
New York – February 18, 2015 – Fundtech, a market leader in global transaction banking solutions, today announced that Etihad Airways has selected Fundtech to provide it with a payments gateway that will enable connectivity to the SWIFT financial messaging network. Key to Etihad will be the ability to reduce risk and increase the efficiency of sending and receiving payment/financial messages in order to continue to expand its business.
Etihad Airways will use Fundtech to connect both its treasury and commercial payments functions to the SWIFT network. In doing so, Etihad will lower its financial transaction costs, enhance its straight-through processing, and improve its cash visibility. It will also benefit from Fundtech’s secure, highly reliable connection without having to develop and maintain its own in-house SWIFT infrastructure.
“Working with Fundtech, Etihad Airways will have greater visibility into cash on hand,” says Adam Boukadida, Etihad’s Deputy Treasurer. “This will provide powerful insight that will enable the optimization of working capital, while direct SWIFT connectivity will increase efficiency for the airline.”
“I am delighted to add Etihad Airways to our list of clients,” says Peter Reynolds, Managing Director, Europe, Middle East and Africa at Fundtech. “As a major and growing airline, they are joining over 270 corporations and financial institutions in more than 32 countries trusting their SWIFT access to Fundtech. The Middle East is a key region we are investing in throughout 2015 and beyond and having such a recognized regional brand as Etihad is significant.”
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.
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