Fundtech, the New Jersey-based provider of payments technology and servicing, says its Application Service Provider (ASP) service centres in the United States now have over 50 clients.
The ASP centers offer corporate payments, cash management, reconciliation, disaster recovery, and post-trade securities processing. Fundtech operates two facilities in the United States, one in Norcross, Georgia and the other in San Leandro, California. Fundtech’s US facilities are SAS 70 certified and currently support over 26,000 end users.
In the aftermath of Hurricane Katrina in September 2005, Fundtech’s ASP-based disaster recovery operations supported local banks such as BankAtlantic of Florida and Trustmark of Mississippi. Both were significantly affected by the hurricane’s devastation. By leveraging Fundtech’s contingency and recovery features, says the company, both banks were quickly operational again.
“Fundtech’s disaster recovery service was an enormous help to us, and enabled us to provide virtually uninterrupted service to our corporate clients,” says Phil Axton, Vice President and Electronic Banking Manager at Trustmark Bank.
Michael Sgroe, Fundtech’s President and COO, says Fund Tech is growing solidy. “As the financial industry begins to realize the benefits of outsourcing, our ASP business is becoming an increasingly important part of our business model,” he adds.
In addition to the US facilities, Fundtech operates a SWIFT ASP in Switzerland, which provides SWIFT messaging services to over 100 banks in Continental Europe, Scandinavia and the United Kingdom.