Fundtech introduces first CLS ASP service; CLS Settlement banks benefit from over 30% cost savings and simpler operations.

0 Comments | M2 Presswire, October, 2004

M2 PRESSWIRE-11 October 2004-FUNDTECH: Fundtech introduces first CLS ASP service; CLS Settlement banks benefit from over 30 cost savings and simpler operations(C)1994-2004 M2 COMMUNICATIONS LTD RDATE:10112004 Atlanta, GA - SIBOS Conference - Fundtech Ltd. (NASDAQ: FNDT), a leading provider of payments, cash management and settlement software and services, today announced the introduction of a CLS managed service (ASP) available to all Settlement Members.

Banks can now outsource their CLS system to Fundtech's ASP, greatly simplifying their operations and reducing costs. Fundtech is the dominant CLS product supplier with 20 Settlement Member clients who collectively account for an estimated 50 of the value of all daily CLS trades. Fundtech expects that...