BankTech

D+H Poised to Acquire Fundtech for a Massive $1.25 Billion

D+H Corporation has entered into a definitive agreement worth US$1.25 billion to acquire Fundtech, a leading provider of global payments solutions to banks worldwide. Fundtech is a leading provider of financial technology to banks and corporations of all sizes in the Americas, EMEA, and APAC regions. Fundtech's solutions are mission-critical to the day-to-day operations of banks and corporate clients. Fundtech offers a comprehensive line of transaction/banking solutions, including global and domestic payments solutions, financial messaging, corporate cash and liquidity management, and merchant services. Fundtech has approximately 1,200 clients, including global money center banks, mid-sized banks and credit unions, non-bank financial institutions, central banks, and corporations.

D+H believes the estimated annual IT spending by banks for the markets in which Fundtech participates is approximately US$5 to US$6 billion. The market opportunity for global payment technologies is among the most attractive in the FinTech industry today. Market penetration of these solutions is still in the early stages. Companies like a combined Fundtech and D+H, that have the scale, proven technology solutions, strong banking domain knowledge and trusted client relationships to compete in this market, will find many opportunities as a result of the lack of penetration.

D+H is a leading financial technology provider essential to the growth of today’s global financial institutions.. Its lending, payments and enterprise solutions are trusted by nearly 7,000 banks, specialty lenders, community banks, credit unions and governments. With annual revenues of more than $1 billion, D+H is recognized as one of the world's top FinTech companies in IDC Financial Insights FinTech Rankings and American Banker's FinTech Forward ranking.

D+H chief executive officer Gerrard Schmid said in an official press release, "The complexity of today's global payments infrastructure, proliferation of channels, and an increasing desire for real-time payments is driving demand for payment solutions that allow banks to streamline payment processing while providing a more sophisticated and comprehensive view of liquidity management across various currencies and geographies. The acquisition of Fundtech puts D+H at the forefront of these trends globally, providing us with a market-leading software platform with established scale in mission-critical payment technology. It also delivers capabilities that are relevant to our existing customer base in Canada and the U.S. while making D+H more relevant to global financial institutions and large U.S. banks."

Reuven Ben Menachem, founder and chief executive officer of Fundtech, said in an official press release, "I'm very proud of the company and culture that we have built, and believe that D+H's client-centric approach and FinTech expertise represent a great strategic fit for us. Fundtech joining D+H will create new opportunities for our employees and clients alike."

Ray

Ray has keen interest in the area of devices, OS and wireless technologies. He is a Mobile Technology enthusiast and believes that Mobility is going to completely change the way we do Payments and Commerce. He wishes to share this belief with the world by providing such content through LetsTalkPayments. Ray has done his engineering as well as MBA.

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