Fundtech: Transforming the Future with Mobile Banking Solutions

Edward Ho, President, FundtechEdward Ho, President
Mobile devices introduced the world to a mobile enterprise where they could be utilized for monitoring, quality management and much more. Now, mobile devices are increasingly becoming one of the important channels in banking. According to a study conducted by J.P.Morgan Chase & Co. in conjunction with the firm Braun Research, 33 percent of consumers are using their mobile apps and over 35 percent prefer banking online. In the 2015 Bank of America Trends in Consumer Mobility Report, it was found that more than half of the banking customers use either mobile or online as their primary means for using banking services. Fundtech, founded in 1993, develops transaction banking solutions which is offered as a software license of Software-as-a-Service (SaaS) that compliments easy banking.

“Financial institutions understand that the leveraging the mobility trend in the banking arena helps differentiate it from its competitors thus helping it become more competitive. The number of institutions around the globe that offer mobile banking services to help customers integrate them easily in their life patterns is increasing,” says Edward Ho, President of Global Transaction Banking Solutions, Fundtech. “Thousands of financial institutions and companies rely on Fundtech to improve operational efficiency, increase revenues, and to provide greater competitiveness through business-to-business services,” says Ho.

Fundtech’s mobile banking solutions, known as CASHplus Mobile, Global CASHplus mobile, and NetDeposit Mobile RDC (Remote Deposit Capture) enables its clients to offer its customers the ability to perform a plethora of banking functionalities from a smartphone and a tablet.

CASHplus’ mobile corporate banking suite with SmartNav, running on iOS and Android, gives banks access to cash management that can be easily customized and branded with the financial institution’s identity. Thus it enables a wide range of mobile banking services, alerts and announcements, upto-minute balance information, activity reporting and approvals for wires, ACH and Positive Pay.

Thousands of financial institutions and companies rely on Fundtech to improve operational efficiency, increase revenues, and to provide greater competitiveness through business-to-business services

Global CASHplus mobile supports multiple users and allows real-time synchronization between the desktop application and mobile devices, enabling corporate bankers to access critical transaction information anytime and anywhere. With this, banking customers receive real-time notifications on transaction status, view current and previous account balances, approve payments, run queries and initiate payments which empowers users to place requisitions for investments, including deposits, loans and market investments.

The last solution known as NetDeposit Mobile enables mobile deposits on the go. This solution seamlessly integrates with the company’s existing mobile application, providing an extensible platform, loaded with mobile RDC, with additional capacity to add mobile services, including mobile payment or integration with a core banking system.

A multitude of companies have benefited from Fundtech’s solutions. Karen Sullivan, CFO of United Way of Santa Cruz County, found out that the deposit process for the hundreds of paper check payments from individual and business funders was immensely exhaustive with a high margin of error. So Sullivan decided to find a better way to deposit checks. With Fundtech’s remote deposit processing service in place, the agency’s check processing is now fast, automated and incredibly low cost, saving thousands of dollars on back office costs for programs that impact the local community.

After being acquired by D+H recently, Fundtech has further strengthened its customer focus, delivery and its solution set. “As a leading player in a growing market that is being propelled by technology innovation, geographic expansion and regulatory changes, the company is well positioned to solve customers’ complex and unique challenges,” concludes Ho.