Fundtech Opens Singapore Office; Asian Presence Expands Global Strategy

Business Wire, Sept 7, 2000

Business Editors

JERSEY CITY, N.J.--(BUSINESS WIRE)--Sept. 7, 2000

Fundtech Ltd. (NASDAQ:FNDT), a leading provider of e-payments and Internet banking solutions, announced today the opening of an office in Singapore.

This marks the Company's initial direct footprint in Asia and a continuation of its strategy to bring its e-payments and e-banking solutions to key markets worldwide. Fundtech plans to establish a strong presence in the region and build local teams to sell and support its global product set.

"There is an increasing demand for cash management and e-payments products and services in Asia due to rapid economic growth in these nations," said Research Director Rajeev Agarwal of TowerGroup, a global financial services IT research firm. "Global and local banks are looking for sophisticated, but easily customizable solutions because each Asian country has a different infrastructure for payment clearing and settlement. The Bank for International Settlements, the World Bank, and the Asian Development Bank are driving implementation of payment systems based on the RTGS (Real-Time Gross Settlement) methodology in most Asian countries. Seven Asian countries already have or are planning implementation of large-value RTGS payment systems, and four others are developing such systems."

"With Singapore as the new gateway to this market, we feel that it was important to position ourselves to realize the full potential of the opportunities in China and the rest of Asia," said Reuven Ben-Menachem, chairman and CEO, Fundtech. "The opening of this office is a logical next step in Fundtech's global strategy and enables us to extend the reach of our e-payment banking solutions, which are designed for worldwide markets."

The company also operates sales, support and development offices in Atlanta, Boston, Dallas, London, Jersey City, San Francisco, Sydney, Tel Aviv and Zurich.

About Fundtech

Fundtech (www.fundtech.com) is a leading provider of software solutions that facilitate e-payments and e-banking by enabling businesses through their banks to electronically manage cash, process payments and transfer funds. The Company's client-server and Internet software products and services 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 650 financial institutions around the globe.

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Forward Looking Statements...

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes" "anticipates" "plans" or "expects" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.