First Security Corporation Chooses Fundtech's ACCESS.pro Electronic Banking Solution

Business Wire, Sept 14, 1999

JERSEY CITY, N.J.--(BUSINESS WIRE)--Sept. 13, 1999--

Fundtech Ltd. (Nasdaq: FNDT) announced today that First Security Corporation (Nasdaq: FSCO), a leader in commercial banking, has chosen Fundtech's ACCESS.pro(TM) suite as the foundation of its next generation electronic banking solution. ACCESS.pro will allow First Security to expand its electronic banking franchise to more clients and locations than ever before.

"We were looking for a solution that would give us an edge in today's highly competitive and rapidly changing cash management environment," said Reed Beecher, Senior Vice President of First Security. "ACCESS.pro will allow us to offer cash management services through a wide range of delivery channels, including Java desktop, with the flexibility to add new delivery channels to meet market demands. It will also allow us to go beyond traditional cash management applications and meet the needs of an international marketplace."

ACCESS.pro represents Fundtech's next generation of electronic banking products. This modular, brandable solution for corporate banking will enable a full complement of electronic banking services, including multi-bank balance reports, portfolio reports, foreign and domestic wire transfers, book transfers, ACH origination, check tracking, stop payments, loans, securities trading and direct communication with the bank. The system will support business operations in English, Spanish, French, Chinese and Japanese. In addition, the system will feature multiple levels of security, including end-to-end encryption, network level security and digital signature authentication.

ACCESS.pro will interface with a wide range of delivery channels, including Internet browsers, Windows PCs, touch-tone telephones and fax machines. In addition, ACCESS.pro's flexible design will support the easy addition of new devices such as wireless phones, digital pagers, electronic organizers, Web TV, and Internet appliances.

"We welcome First Security to the growing list of customers worldwide who have embraced our technologies to lead them into the next century," said Reuven Ben-Menachem, Fundtech's Chairman and CEO. "Our ACCESS.pro solution will help First Security meet the technological and business challenges of the commercial banking marketplace both now and in the future."

About Fundtech

Fundtech is a leading provider of software solutions that facilitate e-commerce and e-banking 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. Fundtech's proprietary innovative software architecture, based on the Windows NT and UNIX operating systems, provides modular, scalable and secure solutions. Its solutions have been sold to more than 300 financial institutions around the globe.

About First Security

With $22 billion in assets, First Security Corporation is the second largest independent bank holding company headquartered in the West. First Security operates almost 400 banking, insurance and investment offices in Utah, California, Idaho, Nevada, Oregon, New Mexico and Wyoming. The corporation also operates nearly 150 mortgage and construction lending and equipment finance offices in 26 states, through subsidiaries First Security Bank, CrossLand Mortgage and First Security Leasing Company.

On June 6, 1999, First Security Corporation and Zions Bancorporation (Nasdaq: ZION) announced a strategic merger that will create a financial services enterprise uniquely positioned in the best growth markets in the country. Under the terms of a definitive merger agreement, the two companies will merge in a stock-for-stock transaction valued at approximately $5.9 billion. The new organization will be known as First Security Corporation and headquartered in Salt Lake City. The transaction is subject to shareholder and regulatory approvals, which, if reached as expected, will close in the fourth quarter of 1999.

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 products services and other statements regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking 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, risks associated with possible acquisitions, any integration of those acquisitions into the company's present business, risks associated with the Company's strategic partnerships, various project associated risks, including internet projects, substantial competition, risks associated with intellectual property rights, risks associated with international operations and other risk factors listed from time to time in the Company's filings and reports.