Cole Taylor Bank Chooses Integrated E-Banking/E-Payments/Reconciliation Solution from Fundtech

Business Wire, Oct 21, 1999

JERSEY CITY, N.J.--(BUSINESS WIRE)--Oct. 21, 1999--

Solution Enables Bank to Deliver Full Range of Commercial

Services Through a Single Internet Application

Fundtech Ltd. (Nasdaq: FNDT) announced today that Cole Taylor Bank, a leading provider of commercial banking services to companies in the Chicago metropolitan area, has selected Fundtech's webACCESS(TM) Internet banking suite and Recon$tar(TM), Fundtech's account reconciliation solution, as the foundation for the bank's corporate service offerings. Cole Taylor currently uses Fundtech's FEDplu$(TM) client/server wire transfer system. The combined implementation of these three products gives Cole Taylor a fully integrated solution for wire transfers, account reconciliation, positive pay and corporate cash management.

"We evaluated many different vendors and selected Fundtech because of their ability to provide a fully integrated solution," said Judy Hill, Vice President of Product Management for Cole Taylor Bank's Cash Management Group. "Fundtech's solution will enable us to deliver a wide variety of commercial banking services to our customers through a single Internet application. This integrated system will allow us to offer true straight-through processing from the corporate customer through the bank's operations, helping us to reduce costs and making us more competitive in our field."

webACCESS is Fundtech's modular, brandable solution for corporate Internet banking that enables banks to offer a full complement of cash management services, including balance reporting, foreign and domestic wire transfers, book transfers, ACH origination, check management, bank reports and e-mail. Corporate customers can access these services through a variety of devices in addition to the Web, including Windows(R), touch-tone telephones and fax machines. The system features multiple levels of security, including user authentication, digital certification and data encryption.

Recon$tar is a client/server rules-based solution which provides banks with powerful automated matching tools. This product is used to reconcile transactions and investigate errors in transactions posted to customer accounts. By automating this process Recon$tar enables its users to improve straight through processing, resulting in superior customer service and significant cost savings.

Currently used by approximately 150 banks, FEDplu$ is North America's most widely used client/server based funds transfer system. FEDplu$ is a mission critical application which features an intuitive user interface, superior throughput performance, automated compliance with Treasury regulations, platform and database independence and full Internet functionality.

"Cole Taylor, an existing and valued customer, has long recognized the value in our FEDplu$ payments solution," stated Reuven Ben-Menachem, Fundtech's Chairman and CEO. "The addition of our webACCESS and Recon$tar applications will allow the bank to quickly provide leading edge solutions to its corporate customers in a more cost-effective manner. We believe this is a perfect example of our competitive advantage in offering fully integrated solutions that meet the e-commerce and e-banking needs of financial institutions."

About Fundtech

Fundtech is a leading provider of software solutions that facilitate e-commerce and e-banking bions efficiently and in real-time. Its solutions have been sold to more than 700 financial institutions around the globe.

About Cole Taylor Bank

As Chicago's largest privately owned bank, Cole Taylor has earned a reputation over the past 70 years for delivering high quality, personalized service. With $2 billion in assets, the bank operates 12 full-service banking centers throughout the greater Chicago area.

Certain statements contained herein, including statements regarding the development of the company's services, markets, product functionality and year 2000 compliance and future demand for the company's product services and other statements regarding matters that are not historical facts, are forward-looking statements. Such statements include risks and uncertainties: consequently, actual results may differ materially from those expressed or implied thereby. Factors that could cause actual results to differ materially include, but are not limited to, variability of quarterly operating results, dependence on key personnel, ability to effectively manage growth, risks associated with rapid technological advances and possible acquisitions, any integration of those acquisitions into the company's present business, risk associated with the company's strategic partnerships, various project associated risks, including Internet projects, substantial competition, risks associated with intellectual operations and other risk factors listed from time to time in the company's filing reports.

(c) 1999 Fundtech Ltd. webACCESS, Recon$tar and Fedplu$ are

trademarks of Fundtech Ltd. All other trademarks are property of

their respective owners.