D+H renames Fundtech 13 October 2015Singapore Reporter: Mark Dugdale
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D+H Corporation has rebranded Fundtech as its new global transaction banking solution (GTBS) business.
Making the announcement at Sibos 2015, D+H confirmed that Fundtech, which it acquired in April, will be led by Edward Ho, who was previously COO and president of Fundtech.
Gerrard Schmid, CEO of D+H, which provides lending technologies and payment solutions, commented: “The Fundtech acquisition significantly advanced D+H in our fintech journey and was evidence of our commitment to continue providing clients the innovative solutions they need to grow and compete.”
“By unifying the operations as one global brand, we can unlock synergies, better communicate our strengths and competitive market differentiators, and allow for deeper connections that provide greater benefits to our clients. We are proud to have reached this milestone, which was largely due to the dedication and incredible efforts of our employees.”
D+H has is also integrating Global PAYplus, its global payment services hub, with Ripple’s distributed ledger technology.
Financial institutions using Global PAYplus will now be able to link to a secure distributed ledger system, accessible only with permission, to connect inter-bank networks, move money domestically and across borders in real-time, regardless of time zones or time of day, and access cheaper liquidity through a distributed network of market makers.
“Distributed ledgers have the potential to radically transform the payment process,” said Gene Neyer, head of product management in the GTBS business at D+H. “They remove the frictional costs and reduce the complexities of using multiple intermediaries; reduce or eliminate the reconciliation processes; and transform and enrich existing business processes by providing alternative sources of liquidity.”
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