UPCOMING EVENTS
FUNDTECH'S BBP AWARDED "BEST IN CLASS" SWIFTREADY CONNECTIVITY LABEL FROM SWIFT
07/27/2010
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- One of only four service bureaus in the world to achieve this designation
Jersey City, N.J., 27th July 2010 – Fundtech Ltd. (NASDAQ: FNDT), a market leader in global transaction banking solutions and operator of one of the world’s largest SWIFT service bureaus, announced that its subsidiary BBP has received the SWIFTReady Connectivity label. This SWIFTReady label, which recognizes BBP as one of the ‘best in class’ shared connectivity providers, has currently been achieved by only four service bureaus in the world.
The SWIFTReady Connectivity label is based on in-depth inspection and audit by SWIFT specialists, and has been established to assist SWIFT customers in identifying shared infrastructure providers that host and operate their own connectivity. According to SWIFT, the award: “recognizes providers that meet higher standards of resiliency and security to make it easier for users to identify the ‘best in class’ providers and have confidence that they meet very strict quality levels.”
Peter Vermeulen, SWIFT’s Business Development Manager, responsible for Service Bureaus said: “We congratulate Fundtech’s BBP for achieving the SWIFTReady Connectivity label. It recognizes BBP among the shared infrastructure providers who offer greatest security and resiliency for end-users connecting to SWIFT.”
“The SWIFTReady Connectivity label is a seal of approval from SWIFT that an organization has met their high standards for safety and soundness,” says Nancy Atkinson, senior analyst at Aite Group. “As outsourcing non-core processing to service bureaus becomes more common, companies and financial institutions want assurances that their messages will be sent accurately, timely, securely, and with excellent recovery in the event of problems. Vendors with the SWIFTReady Connectivity label have been vetted by SWIFT, which is willing to provide such assurances.”
According to Per Trifunovic, BBP Chief Executive: “Over the past 25 years, BBP has consistently focused on delivering to the market the highest quality and reliability achievable. We are gratified that SWIFT has recognized our commitment to these high standards. As we seek to expand globally, we believe that this SWIFTReady Connectivity label will provide us with the credibility needed to be successful in these new geographies.”
ABOUT BBP SERVICEBUREAU
Fundtech’s BBP serves more than 200 customers worldwide, processing more than one million transactions per day, The ServiceBureau provides secure connections to SWIFT (FIN, FileAct, InterAct, Browse), SIC, euroSIC and SECOM. In addition, the ServiceBureau operates applications for compliance (transaction filter), as well as reconciliation (cash, securities, FX, investigation) and manages a message archive.
ABOUT BBP
Since its founding in 1984, BBP AG has been specializing in the development and operation of interbank applications. During these 25 years, BBP has acquired an excellent reputation as a dependable partner for banks and financial companies; in the meantime, worldwide concerns outside the financial industry are also relying on BBP and its competence. Over 200 discerning clients from around the world have put their trust in BBP.
Since 1995, BBP has also been operating the applications in its own ServiceBureau, which fulfills even the highest requirements in terms of stability, availability and security. Two thirds of BBP's clients have outsourced operation of the interbank applications to the ServiceBureau.
ABOUT FUNDTECH
Fundtech (NASDAQ: FNDT), was founded in 1993, and is a leading provider of software and services to banks of all sizes around the world. Payments systems include wire transfers, ACH origination, cross-border payments and remittance. Cash management systems are designed for large corporate through small business clients. Fundtech operates the world’s largest SWIFT service bureau. We offer an extensive line of financial supply chain applications including electronic invoice presentment and supply chain financing. And we are the leading provider of CLS systems to the world’s largest banks. More than 1,000 clients throughout the world rely on Fundtech solutions to improve operational efficiency and provide greater competitiveness through innovative business-to-business services. For more information, visit www.fundtech.com.
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