Sep 19, 2013
New Jersey, September 16th 2013 - Fundtech, a market leader in global transaction banking solutions, today announced the launch of Global Messaging Plus, a new financial messaging platform which will act as the technology gateway for all its service bureaus. Global Messaging Plus sets a new standard for service bureau delivery by reducing overall project implementation time, adding more functionality and improving end user efficiency while continuing to deliver the highest standards of security and reliability.
Today, global banks face a number of challenges; among these, managing financial messages in numerous warehouses is complex and expensive. With the new Global Messaging Plus technology, processing transactions through the gateway will be faster, more precise and less costly, both because firms will be able to decommission unneeded systems and warehouses and also reduce their mainframe systems significantly, resulting in substantial cost savings.
With Global Messaging Plus, banks and corporations alike will save time and increase operational efficiency through global functionality, advanced STP, web-based technology and advanced drill down and query capabilities. Seamless integration with payments and treasury systems reduces the risk and costs associated with onboarding. Built using the latest technologies, Global Messaging Plus ensures that any firm’s technology investment is protected over both the short- and long-term.
The platform also serves as a gateway for Fundtech’s compliance filter application, Global Compliance Plus, in addition to Fundtech’s SWIFT File Flow and SWIFT Fund applications. Global Compliance Plus helps banks check messages against various embargo lists, automatically and in real-time. The application is included as part of Fundtech’s service bureau offering or as an in-house application for Fundtech’s global payments and global cash management customers.
According to Per Trifunovic, CEO of Fundtech’s BBP business unit, “As firms continue to face pressure to reduce costs and improve operations, we believe that a service bureau model makes the most sense. As the largest service bureau operator in the world, we have the expertise and critical mass to help corporations and banks manage and maintain their connectivity operations. Fundtech continues to make significant investments in our technology to ensure that our service bureau customers benefit from the best technology in the world. The introduction of Global Messaging Plus increases our performance and capacity, while at the same time continues to provide the highest standards of security and reliability. With the new technology we are confident that our service bureaus can support corporations and banks of any size, anywhere in the world.”
“Firms are increasingly examining outsourced solutions as a way to reduce both costs and complexity,” says Andy Schmidt, research director, Commercial Banking with CEB TowerGroup. “In doing so, they seek a technology partner that has the ability to provide a reliable, scalable and secure solution to support their connectivity needs.”
Re-disseminated by The Asian Banker