Business Summary excerpt from SEC filing dated: June 30, 2006
Both our legal and commercial name is Fundtech Ltd. We were incorporated in Israel in 1993 under the Israeli Companies Ordinance (New Version), 1983 (the "Companies Ordinance"), as a private limited company, under the name of "Fundtrust Technologies Limited". The principal legislation under which we operate is the Israeli Companies Law, 5759-1999 as amended (the "Companies Law"), which replaced most of the provisions of the Companies Ordinance effective as of May 1, 2000.
Our registered office is located at 12 Ha'hilazon Street, 5th Floor, Ramat-Gan, Israel 52522, and our telephone number is 972-3-611-6500.
Our name was changed to "Fundtech Ltd." in June 1994. Our primary business at that time was the automation of payments for community banks. In 1998, we acquired the assets of the cash management division of CheckFree Holdings Corporation. In 1999, we acquired the assets of the cash management division of Sterling Commerce as well as 100% of the stock of Biveroni Batschelet Partners AG, Switzerland ("BBP"), which connects banks to the Central Bank of Switzerland for the processing and settlement of payments, securities trading and settlement. In 2004, we acquired 100% of the stock of Datasphere SA ("Datasphere") and Cashtech Solutions India Private Limited ("Cashtech"). In 2005, we acquired 100% of the stock of Radius Partners, Inc. ("Radius Partners").
We are a leading provider of end-to-end financial transaction processing software solutions for financial institutions. These solutions are grouped into five broad categories: payment processing, foreign exchange settlement processing, financial messaging, cash management and securities settlement straight through processing products. The first three categories are transaction processing solutions, which enable banks to automate the payment and settlement processes and provide real-time transaction processing capabilities to financial institutions and their customers. The fourth category, cash management products enable corporate clients to communicate with their financial institutions for the purpose of initiating payments, making inquiries and managing their activities with the financial institutions. The final category securities post-trade settlement, is a multi-asset global trade management solution that consolidates and automates a broker/dealer's middle office operations.
|
|
|
We acquired our ACCESS Banking™ products in April 1998, BBP, our Swiss subsidiary, in June 1999 and our banker products in September 1999. Our major products include ACCESS Banking™, CASHplus®, PAYplus USA™, PAYplus for CLS™, Global PAYplus™, Recovery Services for disaster recovery service bureau solutions and related services. We acquired Datasphere through BBP in August 2004 and Cashtech in November 2004. BBP and Datasphere have sold their products and services to approximately 180 customers for the purpose of accessing the S.W.I.F.T. financial messaging network. Cashtech offers a suite of cash management products named CashWeb, CashIn and TransactCentral. Radius Partners is an STP ("straight through processing") solutions provider to the securities industry. Radius offers two STP products named TRADEplus and TRADEplus Data Manager.
|
