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August 6, 2014updated 04 Apr 2017 4:06pm

Republic Bank chooses Fundtech’s solutions for payment execution

Philadelphia-based full-service commercial lender, Republic Bank, will leverage Fundtech's solutions to fulfill corporate demand for integrated cash management, payment execution and compliance filtering with straight-through processing and end-to-end transparency.

By Verdict Staff

Philadelphia-based full-service commercial lender, Republic Bank, will leverage Fundtech’s solutions to fulfill corporate demand for integrated cash management, payment execution and compliance filtering with straight-through processing and end-to-end transparency.

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Republic Bank will use a combination of Fundtech solutions, including cash management (CASHplus), wire payments (PAYplus Connect) and compliance filtering (Global Compliance Plus) to offer transaction banking services to its corporate customers.

In addition, these technologies will enable the commercial bank to initiate and authenticate wire transfers, report to the Federal Reserve, record the transaction and provide confirmation to the client in real-time.

Fundtech has agreed to host these solutions in its data center, which will help it to trim down operational expenses and enhance data security, while eliminating the need for the bank to hire internal technical staff.

Republic Bank executive vice president and chief retail officer Rhonda Costello said: "In order to deliver a new level of productivity to our corporate customers, Republic Bank will be able to provide sophisticated payments and cash management capabilities.

"This solution brings added value and streamlined back office operations to our customers while increasing our market penetration."

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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