Kotak Mahindra Bank – India Implements Fundtech’s Global CASHplus® Solution

Consolidation of processing and innovative services keep Kotak Mahindra Bank competitive

Fundtech Ltd. (NASDAQ: FNDT), a market leader in global transaction banking solutions, announced that India’s Kotak Bank has gone live with Global CASHplus’ Collections and Payments modules. Kotak’s corporate clients will now have access to advanced cash flow planning and working capital optimization applications.

The Global CASHplus modules will help Kotak Bank to centralize its payments and collections processing for its corporate customers, including salary payments, invoice payments, dividend and warrant payments. The new system will offer enhancements to many of the bank’s collections services, including guaranteed arrangements, cheque collections, post-dated cheque collections, correspondent bank management, and others. Corporate clients will use a web-enabled interface that integrates all services into a single window.

Vikram Sud, chief operating officer, Kotak Mahindra group, said, “As a leading private bank in India, Kotak Mahindra Bank is positioned to provide a best-in-breed technology offering to its customers, providing them with a key competitive edge. We selected Fundtech’s Global CASHplus product because it provides both a comprehensive platform for payments and collections, as well as innovative financial supply chain functionality that will help our clients gain greater visibility into their working capital needs.”

According to Sanjay Dalmia, managing director, Fundtech India Ltd, “We are delighted to partner with Kotak Mahindra Bank in their strategy to provide their clients with a comprehensive transaction banking platform. Global CASHplus offers an easy-to-use, yet sophisticated suite of financial tools to manage all aspects of corporate electronic banking and financial supply chain transactions.”

About Kotak Mahindra Group

Kotak Mahindra is one of India’s leading financial conglomerates, offering complete financial solutions that encompass every sphere of life. From commercial banking, to stock broking, to mutual funds, to life insurance, to investment banking, the group caters to the diverse financial needs of individuals and corporates. The group has a net worth of over Rs. 5,997 crore, employs over 20,000 people in its various businesses and has a distribution network of branches, franchisees, representative offices and satellite offices across 370 cities and towns in India and offices in New York, London, San Francisco, Dubai, Mauritius and Singapore. The Group services around 5 million customer accounts.

www.kotak.com

About Fundtech

Fundtech (NASDAQ: FNDT), was founded in 1993, and is a leading provider of software and services to banks of all sizes around the world. Payments systems include wire transfers, ACH origination, cross-border payments and remittance. Cash management systems are designed for large corporate through small business clients. Fundtech is a leader in SWIFT services, operating one of the world’s largest SWIFT service bureaus in the world. We offer an extensive line of financial supply chain applications including electronic invoice presentment and supply trade financing. And we are the leading provider of CLS systems to the world’s largest banks. More than 1,000 clients throughout the world rely on Fundtech solutions to improve operational efficiency and provide greater competitiveness through innovative business-to-business services. For more information, visit www.fundtech.com.

Forward Looking Statements:

This news release contains forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, projections of revenues, income or loss, capital expenditures, plans for growth and future operations, competition and regulation. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted or quantified. When used in this Release, the words, “estimates,” “expects,” “anticipates,” “believes,” “plans,” “intends,” and variations of such words and similar expressions are intended to identify forward-looking statements that involve risks and uncertainties. Future events and actual results could differ materially from those set forth in, contemplated by or underlying the forward-looking statements. The factors that could cause actual results to differ materially from those discussed or identified from time to time in Fundtech’s public filings, including its Annual Report on Form 20-F for the year ended December 31, 2007, including general economic and market conditions, changes in regulations and taxes and changes in competition in pricing environment. Undo reliance should not be placed on these forward-looking statements, which are applicable only as of the date hereof. Fundtech undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances that arise after the date of this Release or to reflect the occurrence of unanticipated events.
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Fundtech Corporation
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