New Jersey-based EFT vendor Fundtech says twenty-four US banks have implemented its next generation payments solution Payplus, 11 of which have gone live with the system this year.
Guaranty Bank, TIB - The Independent BankersBank and Union Bank of Florida are among the companies deploying the software for faster payment processing.
Larry Wine, chief operating officer of Union Bank says: "The solution allows us to configure the system to match how we as a bank are set up and complements our existing processes."
Tony Krug, senior systems analyst, Guaranty Bank adds that the package has increased accuracy and reduced manual processing. "Our current automated throughput is approximately 95% of our total incoming and 88% of our total outgoing and we expect to improve these efficiencies even further," he says.