Under the terms of the deal, Fundtech is expected to offer its Global CASHplus transaction banking system for ISP’s clients worldwide.Fundtech’s Global CASHplus product is set to integrate cash management capabilities, as well as automated financial supply chain features. Its multi-currency payments and collections management functions are set to support electronic and paper-based transactions.
The system’s global liquidity management functions are set to include real, notional and cross-border cash pooling, as well as cash concentration. Fundtech’s product is set to manage channel finance and services, collections management, payments processing, receivables management, liquidity management and account reconciliation.
ISP currently operates 6.000 branches in the Italian market and over 1.800 branches across 13 countries in Central – Eastern Europe and the Mediterranean Basin.
In a recent development , US-based payment services provider Western Union has inked a contract with Intesa Sanpaolo, in a bid to offer money transfer services in Italy via ATMs by the bank’s account-holders.
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