Fundtech says four of their payments customers will be adding its PAYplus USA interface to The Bank of New York’s Persutte – Global F.A.S.T. DirectPay service (Persutte).
This service aims to simplify global payment processing for US financial institutions, and expand the range of funds transfer services they offer clients.
The Fundtech clients using PAYplus USA funds transfer systems are EverBank Financial, Astoria Federal, Mid State Bank and Trust and Sterling Savings Bank. They will be linked to The Bank of New York’s Persutte system for international payment processing. Features include international payment templates, automated foreign exchange rate feeds, and a foreign currency conversion calculator with mark-up capabilities. The banks will now be able to make payments in both US dollars and foreign currency from a single application.
These four clients are the latest to add Fundtech’s PAYplus interface to The Bank of New York’s Persutte since the two companies announced their international payment processing alliance last year.
“This comprehensive solution allows our clients to significantly simplify their payment processing, as well as expand and enhance the range of international funds transfer services they offer their clients,” says Eric Kamback, executive vice president and head of the global payment and trade services group at The Bank of New York. “Clients will be able to increase their operational efficiency and realize savings by reducing both the time it takes to process international payments and the number of related inquiries.”
Michael Sgroe, president of Fundtech, says linking PAYplus USA to Bank of New York’s Pesutte system “enables these mid-sized banks to offer international payment services that rival those of the leading global banks.”