Exhibit 99.1
FUNDTECH
NEWS RELEASE
For Immediate Release
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HSBC Selects Fundtech's Global PAYplus(TM)
Global Rollout Will Deliver Efficiencies to Bank and Superior
Service to Corporate Clients.
Jersey City, N.J., January 11, 2005 -- Fundtech Corporation
(NASDAQ: FNDT) a leading provider of financial technology
software and services, today announced that HSBC Group has
selected Fundtech's Global PAYplus for its global payments
platform, for both high-value and cross border low-value
payments processing worldwide. The platform is expected to
deliver improved service and significant savings in
operating costs to HSBC Group through the replacement of
multiple payment systems currently in use throughout the
Group.
"Moving to a single platform not only improves our operating
efficiencies, it also enables us to enhance the service we
provide to customers and continue to grow our global
payments business. This investment will ensure that HSBC
stays at the forefront of the payments business" said Bob
Murphy, Senior Vice President for Global Payments at HSBC.
"We chose Fundtech because they have a comprehensive and
flexible payments product based on modern technologies",
said Bandula Wijesinghe, Senior Vice President who heads up
the Payments transformation program at HSBC.
"The launch of HSBC's global payments platform will be an
outstanding accomplishment for both Fundtech and HSBC. We
look forward to working
with our partners at HSBC in order to develop a system that
will help transform the payments industry", said Michael
Sgroe President and COO of Fundtech.
About Fundtech
Fundtech (www.fundtech.com) is a leading provider of
software solutions and services that facilitate payments,
settlement and cash management by enabling businesses and
their banks to electronically manage cash, process payments
and transfer funds. The Company's products are designed to
increase efficiency while enabling banks to better serve
their corporate clients. Fundtech operates the world's
largest SWIFTNet service bureau through its Swiss subsidiary
bbp; and the Company is the leading developer of CLS systems
having been selected by 20 of the CLS Settlement Members
Banks. Fundtech was established in 1993 and is a public
company listed on the NASDAQ and the Tel Aviv Stock
exchange.
About HSBC
Headquartered in London, HSBC is one of the largest banking
and financial services organisations in the world. HSBC's
international network comprises about 10,000 offices in 76
countries and territories in Europe, the Asia-Pacific
region, the Americas, the Middle East and Africa.
With listings on the London, Hong Kong, New York, Paris and
Bermuda stock exchanges, shares in HSBC Holdings plc are
held by nearly 200,000 shareholders in some 100 countries
and territories. The shares are traded on the New York Stock
Exchange in the form of American Depositary Receipts.
Through an international network linked by advanced
technology, including a rapidly growing e-commerce
capability, HSBC provides a comprehensive range of financial
services: personal financial services; commercial banking;
corporate, investment banking and markets; private banking;
and other activities.
Forward Looking Statements:
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"Statements included in this Release may contain
forward-looking statements. Such forward-looking statements
are inherently subject to risks and uncertainties, many of
which cannot be predicted or quantified. When used in this
Release, the words, "estimates," "expects," "anticipates,"
"believes," "plans," "intends," and variations of such words
and similar expressions are intended to identify
forward-looking statements that involve risks and
uncertainties. Future events and actual results could differ
materially from those set forth in, contemplated by or
underlying the forward-looking statements. The factors that
could cause actual results to differ materially from those
discussed or identified from time to time in Fundtech's
public filings, including general economic and market
conditions, changes in regulations and taxes and changes in
competition in pricing environment. Undo reliance should not
be placed on these forward-looking statements, which are
applicable only as of the date hereof. Fundtech undertakes
no obligation to revise or update these forward-looking
statements to reflect events or circumstances that arise
after the date of this Release or to reflect the occurrence
of unanticipated events."
Fundtech Contact: HSBC Group Contact:
George Ravich
Fundtech Corporation
(201) 946-1100
georger@fundtech.com
or
Media Contact:
Adelaide Harrison
Write Image
+44 (0)207 959 5520
adelaide.harrison@write-
image.co.uk
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