Wachovia Selects Fundtech's OmniPAY(TM); Intelligent Payments Hub to Expand Corporate Banking Services

JERSEY CITY, N.J.--(BUSINESS WIRE)--Sept. 5, 2005--Fundtech Ltd. (NASDAQ: FNDT), a leading provider of end-to-end corporate banking software and services, today announced that Wachovia has licensed OmniPAY, Fundtech's intelligent payments hub. Using OmniPAY, Wachovia will simplify the way it processes low value international payments and increase STP (Straight Through Processing) levels while reducing operating costs.

OmniPAY allows banks to offer their corporate clients tailored payments services that integrate more closely with their enterprise resource planning (ERP) systems. Acting as a payments hub, the system is able to process a variety of international cross-border mixed payments files and route them through existing bank systems to be cleared globally.

"As competition for global corporate banking services intensifies, OmniPAY allows Wachovia to offer our corporate clients more flexible and convenient ways to initiate and receive low value international payments," said Ann Givens, International Business Manager with Wachovia's Treasury Services Division.

"We are delighted with Wachovia's decision to use OmniPAY. OmniPAY's unique capabilities will allow the bank to offer significant flexibility in payment services without changing their existing payment systems infrastructure, lowering both risk and cost of service delivery," said Michael Sgroe, President and COO of Fundtech.

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