SOURCE: Fundtech Corporation

Fundtech

February 11, 2015 06:00 ET

Fundtech Partners With gDi to Enhance Local Presence in the Middle East

A Growing Regional Customer Base Spurs Fundtech to Expand Middle Eastern Presence Through Partnership With Leading Local Systems Integrator

NEW YORK, NY--(Marketwired - February 11, 2015) - Fundtech, a market leader in global transaction banking solutions, today announces that it has entered into a partnership with Abu Dhabi-based IT systems integrator, Gulf Data International (gDi).

The partnership with gDi will complement Fundtech's significant investment in the Middle East by further strengthening its ability to provide banks and corporations in the region with local sales, service, and solution support capabilities. Through the partnership, gDi will support Fundtech's transaction banking and payments solutions, including payment hubs, channel solutions such as cash management, and financial messaging services including connectivity to SWIFT and other interbank services.

"Maintaining a strong presence in the Middle East requires local engagement, support and delivery," says Peter Reynolds, Fundtech's London based Managing Director for Europe, Middle East and Africa. "Fundtech's strength lies in its ability to provide global presence, yet local perspective. Our recent wins in the region make it the right time to establish a regional partner to help to better service the needs of our customers, and to expand our business in the market."

"We are delighted to have the opportunity to extend our range of solutions and services, and the Fundtech suite of solutions -- particularly their cash management and payments capabilities -- are very complementary to the gDi portfolio," says Stewart Jack, Chief Executive Officer of gDi. "It is essential for the burgeoning UAE market -- and especially the financial sector -- to have access to globally acclaimed payments processing and cash management systems that are supported by an established local partner. We look forward to working with Fundtech to deliver these mission critical solutions to the UAE market."

About Gulf Data International
Gulf Data International LLC (gDi) is an IT systems integrator, founded in the United Arab Emirates in 1983, with offices in Abu Dhabi, Dubai, and Cairo. gDi delivers vertical solutions for banks, government, oil & gas, and the private sector. gDi also delivers horizontal solutions across systems integration, enterprise resource planning, corporate performance management, and systems development.

gDi's early engagements in the 1980's were in the banking sector by way of delivery and implementation of core banking systems and since then it has continued to supply and implement technology related to ERP, revenue management, collections and payments across a variety of verticals. A resident of the UAE regularly touches a gDi system, whether through paying a parking fee or fine, using a public transport facility, visiting a hotel, etc. gDi has implemented bespoke systems for banks and government to manage their revenue consolidation and payment processing solutions.

About Fundtech
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, Fundtech's customers benefit from lower operating costs and an enhanced end-user experience through integrated and feature-rich solutions. The firm's major product lines include: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. Thousands of financial institutions and companies worldwide rely on Fundtech's innovation to improve operational efficiency, increase revenues, and provide greater competitiveness through business-to-business services. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit www.fundtech.com.

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