Keywords: Fundtech, shared services, finance shared services, BankServ, purchase to pay, procure to pay, P2P

Successful post-merger integration

Ivan Ujvari | News | 8 June 2012

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Fundtech announced that it has successfully completed the postmerger integration with BankServ and is providing greater customer value as a result of the expanded product lines.

In November 2011, Fundtech and BankServ combined their operations and are now offering the market a broader and deeper line of Transaction Banking products and services.

Corporate One Federal Credit Union of Columbus, Ohio, an existing customer of BankServ’s wire transfer system prior to the merger, has recently added PAYplus-ACH® and CASHplus®, part of Fundtech’s premerger suite of products. According to Robert Coyan, Corporate One’s SVP of Marketing and Operations: “Since Fundtech offers such a broad spectrum of quality products and services, they have become an integral component of the Corporate One suite. We know that credit unions throughout the United States will benefit from such a seamless end-user experience.”

Jane Lathrop, SVP and Payment Services Manager of Umpqua Bank headquartered in Portland, Oregon said: “Umpqua has been a client of both Fundtech and BankServ, and we are realizing significant value from their merger. Having a large portion of our transaction banking infrastructure from a single supplier, including cash management, payments, and our SWIFT connection, enables us to receive more accountability for a broader set of services, which we expect will translate into even greater reliability of service.”