Fundtech, a provider of transaction banking services, has introduced PAYplus Connect, a version of PAYplus USA designed for community banks that require a low volume service at a low cost.
The company said that PAYplus Connect provides community banks with the wire transfer features that large banks have, on an outsourced, pay-per-transaction basis.
The company also said that PAYplus Connect is operated by Fundtech in its service bureau located near Atlanta and can be integrated with the bank’s core processor or in-house operation. Banks pay a small set-up charge and then pay-per-transaction, making it affordable for banks with small wire transfer volumes.
With PAYplus Connect community banks will automate many of the labour-intensive tasks such as account balance verification and Office of Foreign Assets Control screening, reducing processing time while improving accuracy and risk management.
Brian Jou, executive vice president of Fundtech, said: There has never been a more opportune time for community banks to upgrade their wire transfer services. PAYplus Connect is a low-cost way to quickly become more competitive with larger banks, while improving profitability. Fundtech makes it easy and will provide the support community banks will need to be successful.
