JERSEY CITY, N.J., Oct. 28, 2012 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announced that it has signed a strategic partnership with NEC and its subsidiary Decillion Group, a Singapore-based SWIFT service bureau focused on the financial services industry. The agreement extends Fundtech's global service bureau capabilities with physical presence in the Asia-Pacific region, adding to its existing service bureau operations in North America, the United Kingdom, and Switzerland. Fundtech will now have the capability to offer financial institutions and corporations a single global relationship with local support and service.
Decillion Group, established in 1995, provides software solutions to the financial services industry on both an in-house and service bureau (Software as a Service) basis. With established local offices in Australia, China, Hong Kong, Indonesia, Malaysia, Thailand and Vietnam, Decillion operates the largest SWIFT service bureau in Asia Pacific with 130 clients from 22 countries. In July, the company's flagship product MAPS was awarded the SWIFTReady Payments 2012 label, and the SWIFTReady Financial EAI 2011 label last year.
Fundtech currently operates the world's largest SWIFT service bureau providing financial messaging to over 600 financial institutions and 75 corporations. The company has been awarded the SWIFTReady Connectivity Best Practice label, one of only 10 services bureaus to achieve this recognition.
As part of the strategic partnership, Decillion will offer Fundtech's SWIFT messaging and Compliance Filtering software in its service bureau. There are also plans to offer Fundtech's extensive portfolio of products through Decillion's service bureau in the future. With the establishment of this alliance, Fundtech will have access to the Asia-Pacific market and the capability to offer financial institutions and corporations a single global contract with local support and service. The combined network and expertise of both partners will create a leading global service bureau platform that will provide customers with high quality and cost-effective SWIFT connectivity.
Commenting on the agreement, Gil Gadot, president of Fundtech Asia-Pacific said: "The strategic partnership agreement with NEC and Decillion will provide Fundtech clients with the ability to have a global service level agreement (SLA) with local support and service. Working together we will offer financial institutions and corporations the highest quality, most reliable SWIFT connection in the industry. We are delighted to partner with NEC and Decillion to expand our business throughout Asia-Pacific leveraging their organization throughout the region."
According to Thomas Lee, CEO of Decillion: "Our partnership with Fundtech will enable us to work with a world-class organization offering their well-known products to financial institutions and corporations throughout the region. We look forward to partnering with Fundtech."
About Fundtech
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, our clients benefit from lower operating costs and an enhanced end-user experience through our integrated and feature-rich solutions. Our major product lines are: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. We operate Fundtech Connect, one of the world's largest services bureaus that addresses the unique needs of the financial services industry. Thousands of financial institutions and companies worldwide rely on Fundtech's innovation to improve operational efficiency, increase revenues, and provide greater competitiveness through business-to-business services. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit www.fundtech.com
About Decillion Group
Established in 1995, Decillion Group is a systems integrator and solutions provider focused on providing "Software as a Service" (SaaS) and financial messaging solutions in the Asia- Pacific region. Headquartered in Singapore, Decillion Group has established local offices in Australia, China, Hong Kong, Indonesia, Malaysia and Thailand, and is part of NEC Asia Pacific Pte Ltd. Decillion operates a SWIFT Service Bureau connecting more than 130 financial institutions (including several corporations) to the SWIFT community. Decillion is a Microsoft Gold Certified Partner and has achieved Microsoft Competencies in ISV/Software Solutions. More information about Decillion is available at www.decilliongroup.com
About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company's experience and global resources, NEC's advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at http://www.nec.com.
CONTACT: Press Contacts: Fundtech (UK) Chanda Gathani - Metia Ltd. +44 (0) 20 3100 3605 chanda.gathani@metia.com (USA) Binna Kim - Cognito +1 646 395 6304 Binna.Kim@cognitomedia.com Corporate Contact: George Ravich - Fundtech +1 201 215 6530 george.ravich@fundtech.com Decillion Group Mavis Chan +65 6508 8094 Mavis.chan@decilliongroup.com NEC Corporation (Tokyo) Seiichiro Toda +81 3 3798 6511 s-toda@cj.jp.nec.com
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