Fundtech, the electronic payments applications group, announced today that twelve of its PAYplus for CLS* customers have gone live with the solution, enabling them to interact with CLS Bank, which also went live on September 9.
“We have committed significant resources to the success of CLS and believe the system will succeed in reducing global foreign exchange settlement risk for financial institutions worldwide,” says Joe Mazzetti, Executive Vice President of Fundtech. “We are pleased to be the leading provider of CLS payment solutions with 18 Settlement Member banks having chosen our PAYplus for CLS solution.”
PAYplus for CLS(tm) inter-operates with settlement members, user members, and third party participants to provide them with a full set of integrated CLS services. In addition to the CLS software provided to the CLS shareholder banks, CLS Bank itself uses Fundtech software for some of its central bank settlement activities.