Fundtech has introduced a CLS managed service (ASP) available to all settlement members. Banks can now outsource their Continuous Linked Settlement (CLS) systems to Fundtech’s ASP service with the aim of simplifying operations and reducing costs. Fundtech has 20 settlement member clients who collectively account for an estimated 50 per cent of the value of all daily CLS trades. Fundtech will operate its CLS ASP in a high-security facility in Europe with full redundancy, auto notification and alerting, and scheduled proactive maintenance. The company has also launched Global PAYplus – OmniPAY, an intelligent centralized payments hub. This new service enables banks to process mixed payments files received from their corporate clients while using their existing payments infrastructure. OmniPAY is a new feature of Fundtech’s Global PAYplus payments platform. Banks using OmniPAY will be able to offer their clients greater levels of automation and convenience by eliminating their existing ‘siloed’ approach to payments processing.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
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Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.