Fundtech Ltd. announced that Australia and New Zealand Banking Group Ltd.
has launched Fundtech’s Global PAYplus payment system in New Zealand.
With ANZ now processing customer payments in New Zealand through the Global
PAYplus system, the bank is well on its way to replacing a number of
disparate payment systems to create a common worldwide-payment platform.
The platform will enable the bank to offer Web-based, real-time automated
processing services across its international network. In 2001, ANZ Bank
began using the Global PAYplus solution in Melbourne, Australia, the bank’s
largest office and headquarters.
“Fundtech’s solution has been central to the increased efficiencies we’ve
realized over the past year,” said Terry Glover, Executive Manager of
Payments, ANZ Bank. “In a recent audit of our payments systems conducted by
SWIFT they found we had one of the highest STP rates in the region, which
is a great improvement for us.”
Mr. Glover added, “As one of the key banks in the world, we hope to change
the way the financial industry views the transfer of funds. We see the
world of payment processing as still a viable business for banks. By
establishing a business unit focused solely on payments processing we seek
ways to develop new and improved services that benefit our customers and
add to our revenue stream.”
A leading global bank with substantial payment processing volumes, ANZ Bank
has realized great benefits from its first year with Global PAYplus in
Australia. The benefits include solid improvements in Straight Through
Processing (STP) rates, improved operating cost efficiencies, greater
management of risk and increased opportunities in revenue streams.
“We value our partnership with ANZ and are progressing in our mutual goal
to create a global payments platform for the bank,” said Reuven Ben
Menachem, Chairman and Chief Executive Officer, Fundtech. “We look forward
to working with the bank on their roll-out of the system into other
Fundtech (www.fundtech.com) is a leading provider of software solutions and
services that facilitate payments, settlement and cash management by
enabling businesses and their banks to electronically manage cash, process
payments and transfer funds. The Company’s client-server and Internet
software products automate the process of transferring funds among
corporations, banks and clearance systems and enable businesses to manage
global cash positions efficiently and in real-time. Its solutions have been
sold to more than 750 financial institutions around the globe.