Under the terms of the agreement, Fundtech’s branded version, dubbed Online Expenses, is set to be offered to its current customer base of over 2,000 direct corporate clients. As part of the deal, WebExpenses is expected to promote Fundtech as its preferred supplier of electronic invoicing presentment and payment (EIPP) services.
Fundtech’s Online Expenses is built on a Software as a Service (SaaS) model and is set to allow organizations to revise their expenses policies. With Online Expenses, employees or claimants can submit their expenses using a web interface or populate directly from a credit card statement. The system is set to support receipt attachments and SMS, with iPhone and Blackberry applications currently available.
In April 2011 , US cross-border payments services provider Travelex Global Business Payments and Fundtech, a US provider of financial software products and services, were planning to deliver an integrated foreign payment service for US financial institutions.
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