Fundtech Introduces SWIFTReady Global Payment Service Bureau

Fundtech has announced the introduction of PAYplus ServiceBureau, the first SWIFTReady global payments platform combined with SWIFT services, available as an outsourced service. The new Software as a Service (SaaS) offering packages Fundtech’s PAYplus FTS with its SWIFT ServiceBureau, to provide banks with a complete outsourced global payments solution that is priced on a per-transaction basis. The company says that the solution offers banks the ability to upgrade their payments platform without the large up-front investment of a new system; and relieves them of the ongoing support costs of maintaining and extending it. After a small integration fee, banks will pay a monthly fee combined with a per-transaction charge, which makes the service affordable for institutions of any size. The PAYplus ServiceBureau supports payment processing for all the major European payment networks, including SWIFT, EBA, TARGET2, SEPA and many domestic clearing and settlement systems in Europe and Asia-Pacific. The payments system utilizes PAYplus FTS, Fundtech’s successful payments platform that is currently used by about 50 banks throughout the world, and supports a multi-entity/multi-branch configuration. The system will be deployed in the service bureau operated by BBP, Fundtech’s subsidiary located in Switzerland, and PAYplus ServiceBureau will be available in the first quarter of 2009.


Related reading

New consumer banking head for Citi Asia Pacific