Fundtech cashes in on InterSoftware

Fundtech, a New Jersey-based provider of transaction banking services, has acquired Manchester-based IP firm InterSoftware.


Fundtech, a New Jersey-based provider of transaction banking services, has acquired Manchester-based IP firm InterSoftware.

Fundtech, a New Jersey-based provider of transaction banking services, has acquired Manchester-based IP firm InterSoftware.

InterSoftware supplies payment software, with an emphasis on the Bacs system. The acquisition expands Fundtech’s UK corporate payments customer base to 8,500, representing over a third of all companies processing Bacs payments.

Reuven BenMenachem, CEO of Fundtech, said: “This acquisition significantly expands our corporate customer base, enabling us to provide a wide range of leading-edge payment services directly to corporates and via our existing banking channels. This move supports our long-term goal of being the premier provider for corporate FSC services to corporations and financial institutions globally.”

InterSoftware reported a turnover of £1.1 million in 2008.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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