Sept 1, 2005, Pune, India - CashTech Solutions India, a subsidiary of Fundtech Ltd. (NASDAQ: FNDT) and leading provider of corporate electronic banking and cash management solutions to financial institutions, has been conferred two international awards for its cash management products.
CashTech was adjudged âBest Cash Management Software Companyâ in Euromoneyâs prestigious Financial Technology Awards 2005. The Banker, a Financial Times London publication has also rated CashTech "Highly Commendable" in the Cash Management category for the year 2005. This further reiterates CashTechâs position as a solution vendor of choice.
The Euromoney Financial Technology Awards recognise the finest financial technology providers across the world in different categories like Trading, Risk Management, Portfolio Management, Customer Relationship and Cash Management. Euromoney conducted a financial technology users' survey - a global rating of the top financial technology vendors, based on customer satisfaction where customers are required to rate a solution vendor on a 10 point scale on criteria like service, usability, return on investment / cost, and overall satisfaction. CashTech dominated its class in the survey and emerged as the clear winner.
According to the August issue of Euromoney, "In order to stay ahead of its competition, CashTech, now a subsidiary of US company, Fundtech â focuses on technology, keeps abreast of ever changing regulatory system, and understands the evolving needs of banks and their clients."
The Banker Technology Awards recognize innovation and excellence of technical applications and services for the front, middle, and back-office of financial services. The Banker Award 2005 was adjudged on the basis of objective and results-oriented criteria by a panel of leading, highly respected industry commentators. Reduced cost or time of processing, improved organisational performance, improved customer services and innovative use of technology were some of the criteria used for judging.
The Banker, June 2005 commented, "For a new entrant in the cash management arena, things must be right from the outset. CashTech deployed its CashIn solution for one bank in precisely these circumstances. To provide a complete range of services in a tight timeframe is not easy and in this instance the challenge was increased as the bank had no branches and wished to offer cash management via its nationwide coordinator network. This required a system at each location linking to a central database held by the bank. The speed with which the implementation was achieved, including integration to existing systems, testing and customisation, was well received and worthy of commendation."
R N Iyer, Director, CashTech Solutions said, "I thank all our customers for their continued support that has helped us win these accolades. Their acceptance has made us the worldâs leading cash management solution provider. These global recognitions further cement our commitment of delivering quality service at high speed to our customers." "Congratulations to all the members of team CashTech, instrumental for our growth and success,"