19.06.2008 08:35:00
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Fundtech's Growth in EMEA Prompts New Management Structure
Fundtech Ltd. (NASDAQ: FNDT), a market leader in corporate banking
software and solutions, today announced that as a result of solid growth
in its EMEA operations, it has enhanced the regional management to
support the company’s continued expansion.
This will enable Fundtech to broaden its geographical coverage of the
market and to build on its existing client base of more than 200
institutions in the region.
Mark Wilson, has been promoted to the position of senior vice president
and managing director of Fundtech’s
EMEA-London. Previously Mark was vice president of sales. Dieter Prang
has become senior vice president and managing director EMEA –
Frankfurt. Previously Dieter was senior vice president of Fundtech GmbH,
which was formed when his company was acquired by Fundtech in 2007. The
two regional leaders now manage all aspects of Fundtech’s
business throughout Europe, Middle East and Africa.
Commenting on the change, Joseph Mazzetti, executive vice president of
corporate development said: "Our EMEA business
has experienced more than 100% growth over the past three years with
products that address the pressing concerns of the market. Our new
management structure will enable us to have greater regional coverage
and be more responsive to our client’s needs.
Congratulations to Mark and Dieter on their expanded leadership roles
within Fundtech.” About Fundtech
Fundtech (NASDAQ: FNDT), was founded in 1993, and is a leading provider
of software and services to banks of all sizes around the world.
Payments systems include wire transfers, ACH origination, cross-border
payments and remittance. Cash management systems are designed for large
corporate through small business clients. Fundtech is a leader in SWIFT
services, operating one of the world’s largest
SWIFT service bureaus in the world. We offer an extensive line of
financial supply chain applications including electronic invoice
presentment and supply trade financing. And we are the leading provider
of CLS systems to the world’s largest banks.
More than 750 clients throughout the world rely on Fundtech solutions to
improve operational efficiency and provide greater competitiveness
through innovative business-to-business services. For more information,
visit www.fundtech.com.
Forward Looking Statements:
This news release contains forward-looking statements made pursuant to
the safe-harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such statements may include, but are not limited to,
projections of revenues, income or loss, capital expenditures, plans for
growth and future operations, competition and regulation.
Forward-looking statements are inherently subject to risks and
uncertainties, many of which cannot be predicted or quantified. When
used in this Release, the words, "estimates," "expects," "anticipates,"
"believes," "plans," "intends," and variations of such words and similar
expressions are intended to identify forward-looking statements that
involve risks and uncertainties. Future events and actual results could
differ materially from those set forth in, contemplated by or underlying
the forward-looking statements. The factors that could cause actual
results to differ materially from those discussed or identified from
time to time in Fundtech's public filings, including its Annual Report
on Form 20-F for the year ended December 31, 2007, including general
economic and market conditions, changes in regulations and taxes and
changes in competition in pricing environment. Undo reliance should not
be placed on these forward-looking statements, which are applicable only
as of the date hereof. Fundtech undertakes no obligation to revise or
update these forward-looking statements to reflect events or
circumstances that arise after the date of this Release or to reflect
the occurrence of unanticipated events.
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