Fundtech Launches CLS Solution for Third-Party Banks

Fundtech has announced the launch of PAYplus for CLS Third Party Edition(tm) and IOSwaps Manager(tm), two new products for the CLS(tm) market designed to help financial institutions eliminate risk associated with cross-currency foreign exchange transactions and improve straight through processing (STP). The firm’s clients include 18 CLS settlement members, twelve of whom recently went live with Fundtech’s PAYplus for CLS and are now using the solution to connect to the Continuous Link Settlement (CLS) System for foreign exchange (FX) settlement. Fundtech also announced two new banking clients: the UK’s Co-operative Bank plc recently went live with CASHplus*, Fundtech’s new generation cash management solution; and Australia and New Zealand Banking Group Ltd. (ANZ) is now using the firm’s Global PAYplus* payment system in New Zealand.

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