Pune, 19 September 2007: CashTech Solutions, a leading provider of Financial Supply Chain (FSC) and Remittance Solutions, today announced that their CEO, Mr. Sanjay Dalmia, has authored a book, "Financial Supply Chain", published by McGraw Hill. The book defines the concepts of FSC in the background of existing practices and changes that are taking place at the banks and the Corporate. For anyone who ever wanted tangible guidelines to work with,in regards to FSC, this book fits the bill.

Mr.Dalmia states, "While the industry is experiencing a growing focus on the Financial Supply Chain, many organizations continue to respond on a tactical basis and implement solutions in a non-integrated manner. There is a need to have a structured and documented compilation of information on Financial Supply Chain practices leading to a more strategic and integrated approach. My book is an effort towards this and I hope that it will deliver value to the professional and academic interests of the banking fraternity." 

All commercial transactions from the sale and purchase of goods result in a monetary settlement between the banks of the buyer and seller. The problem has always been the access to and use of non-monetary information around this exchange of goods. This has traditionally taken place independent of the monetary settlement, resulting in reconciliation delays and sub-optimal supply chain networks. The book uses real life case studies to present solutions to this problem and to illustrater opportunities and benefits of Financial Supply chain services.

The book is an important contribution to the existing literature on Financial Supply Chain.


CashTech wins The Banker Technology Award for the third time

Pune, June 5, 2007, CashTech Solutions India Ltd, a Fundtech company and the premier Financial Supply Chain and Remittances solutions provider, has won the prestigious 'Banker Technology Award', given by the internationally renowned Financial Times banking magazine – The Banker, London. The Awards highlight those solutions and projects that have made a real difference over the past 12 months.

CashTech's International Remittances product, Transact Remit™, won the Retail Banking Innovation award, in the "Internet Channel Technology of the Year" category. Transact Remit is a powerful, web-based, international remittance transaction processing system, which automates the entire process of money transfer for banks and financial institutions. Additionally, it can be hosted by a bank to offer remittance services to retail customers without the remitter having to hold an account with the bank

On receiving the honour, Mr. Sanjay Dalmia, CEO, CashTech Solutions said, "We are proud to be recognized globally for our cutting edge technology solutions which address the needs of organisations in today's dynamic and rapidly changing business environment."

 "This award will further strengthen our commitment to deliver innovative & quality solutions to our customers and we will continue to strive for excellence", he added

The Banker Technology Awards 2007, recognizes innovation and excellence in technical applications and services for the front, middle, and back-office of financial services. Its aim is to provide an index to guide financial institutions world-over on the leading solutions in key business areas.  The awards are judged on the basis of objective and results-oriented criteria by a panel of leading, highly respected industry commentators from around the world


Sanjay Dalmia appointed CEO of CashTech Solutions

Pune, February 7, 2007- CashTech Solutions, a premier provider of Financial Supply Chain and Remittance solutions to financial institutions worldwide, has appointed Mr. Sanjay Dalmia as the Chief Executive Officer. Sanjay has been promoted from his role as the Head of Product, during which he was instrumental in creating and enhancing CashTech's intellectual property in the space of Financial Supply Chain, Cash Management and Remittances. As CEO, Sanjay Dalmia will report to the board, headed by Mr. Reuven Ben Menachem, CEO of FundTech, CashTech's parent company.

On Mr.Dalmia's appointment as CEO, Mr. R.N Iyer, Director, CashTech Solutions said, "Sanjay's appointment as CEO gives immense pleasure to everyone at CashTech Solutions.  Sanjay has been a key driver of most of the initiatives taken at CashTech over the past few years and I believe that he, with his keen business acumen, will propel the organization towards rapid growth."

Mr. Dalmia joined CashTech in 2001, with prior stints in HSBC and ABN AMRO.  He is an alumnus of the Indian Institute of Management, Ahmedabad and a Computer Science graduate from the Indian Institute of Technology, Delhi.


TMB Bank, Thailand, to implement CashTech's cash management solution

Pune, March 31, 2006- CashTech Solutions, a Fundtech Ltd. Company (NASDAQ: FNDT) and a global cash management solutions provider has partnered with yet another leading bank in Thailand - TMB Bank, to provide cash management solutions. TMB Bank will use CashTech's cutting-edge solution TransactCashIn to provide services in the areas of Collections, Receivables and Liquidity management. TransactCashIn will enable the bank to attract new clients and gain a greater share of patronage of existing ones

TransactCashIn Collections enables banks to offer better cash flow planning and optimal utilization of funds for their corporate customers. Aimed at providing benefits to both the bank and its customers, TransactCashIn Liquidity Management Module can execute priority-based instructions, control funds movement across accounts with differential interest rates, compute interest earnings and allocate earnings/loss to participating accounts

Arun Kini, Head – Account Management, at CashTech, stated, "Thailand, being one of the key markets in the Asia Pacific Region, has been instrumental in contributing to our company's revenues significantly. We already have a strong presence in this region and our partnership with an eminent customer like TMB Bank, will enable us to further strengthen our roots here."

Khun Silawat Santivisat, Head of Cash Management, TMB Bank, said, " We are confident that this partnership will help us achieve the ambitious growth targets that we have set for ourselves. With strong domain expertise and a functionally strong product, we look forward to working closely with CashTech to meet the complex demands of our customer."