Standard Bank Selects Fundtech’s Global Cash Management Solution to Provide Seamless, Cross-Border Corporate Liquidity
New York – September 30, 2014 - Fundtech, a market leader in global transaction banking solutions, today announces that Standard Bank has selected Fundtech’s cash management solution, Global CASHplus, to provide real-time liquidity management, cash flow forecasting, and balance reporting services to its corporate customers. It will give the bank the ability to provide its corporate customers with improved liquidity through full visibility into accounts and transactions, as well as the ability to forecast and act on this information.
Standard Bank, a leading transaction bank in Africa, sought to strengthen its competitiveness in the marketplace by implementing a global liquidity management system that supports the delivery of integrated real-time services regardless of where the customer is domiciled or accounts are held. Standard Bank selected Fundtech to execute this vision based in part on Fundtech’s experience executing complex cash management and liquidity projects with large Pan-African and global banks. The bank will implement the solution first in South Africa and then through other countries in which it operates.
“Standard Bank is committed to being the leading corporate and investment bank in, for, and across Africa,” says Mr. Jerry Pearce, Standard Bank’s Global Product Head of Transactional Products and Services, Corporate and Investment Banking. “Liquidity optimization and cash forecasting are increasingly important to corporate treasury groups faced with a need to manage working capital and optimize surplus funds—often across borders and currencies. Regardless of location or where they conduct business, Standard Bank is able to provide its customers with a seamless treasury experience.”
“As the speed of the transactions accelerates, so does the need for accurate and timely information,” says Peter Reynolds, Fundtech’s Managing Director, EMEA Sales. “Thinly-stretched treasury departments struggle to identify liquidity positions at the enterprise-wide and real-time levels. Financial institutions that can offer solutions to their corporate customers will benefit by becoming a valuable partner, gaining a competitive advantage, and increasing revenues.”
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.
Patrick Kilhaney, Public Relations & Analyst Relations Manager
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+1 646 395 6304
About Standard Bank Group
Standard Bank Group is the largest African bank by assets and earnings. Its strategy is to build the leading African-focused financial services organisation using all of its competitive advantages to the fullest extent. It will focus on delivering superior sustainable shareholder value by serving the needs of its customers through first-class, on-the-ground operations in chosen countries in Africa. It will also connect other selected emerging markets to Africa and to each other, applying its sector expertise, particularly in natural resources, globally. Standard Bank operates in 20 countries on the African continent, including South Africa.
For further information go to www.standardbank.com
Ross Linstrom, Standard Bank Media Relations
+27 (0)83 262 1882
Hayley Crane, Standard Bank Media Relations
+27 (0)83 795 7422