PhoneFactor is now available as an integrated option within Fundtech's CASHplus cash management solution

October 13, 2010

4 Min Read


PhoneFactor, Inc., the leading global provider of out-of-band authentication services, today announced that it has entered into a partnering agreement with Fundtech (NASDAQ: FNDT) to provide additional security for online banking logins and transactions. PhoneFactor is now available as an integrated option within CASHplus', Fundtech's award-winning cash management solution. Integration with other Fundtech products is also available through the PhoneFactor Universal Banking Gateway.

Fundtech has over 1,000 clients worldwide, including 50 of the world's leading banks. "Our clients look to us as a trusted partner in the fight against online banking fraud," said Ed Gainer, Senior Vice President of North American Cash Management at Fundtech. "We are committed to providing them with best-in-class products to address today's online banking threats. By partnering with PhoneFactor, we've made it easier than ever for our clients to enable out-of-band authentication to enhance the protection of their online banking customers."

PhoneFactor will provide Fundtech clients with integrated out-of-band authentication services, including user authentication and transaction verification services. PhoneFactor works by placing an automated call to the online banking user during login. The user simply answers the call and presses # (or enters a PIN) on the phone keypad to complete the login. In addition to ensuring that the legitimate user is logging in, PhoneFactor can verify specific online transactions, protecting against man-in-the-middle attacks from malware like Clampi and ZeuS, all through an out-of-band channel. PhoneFactor also offers out-of-band authentication by sms text message and a voice biometric option.

"We are pleased that Fundtech clients will now have direct access to PhoneFactor's leading authentication technology from within the CASHplus solution," said Tim Sutton, CEO of PhoneFactor. "By working together, PhoneFactor and Fundtech can help financial institutions quickly deploy out-of-band authentication to protect against even the most sophisticated online banking threats."

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 operates the world's largest SWIFT service bureau. They offer an extensive line of financial supply chain applications including electronic invoice presentment and supply chain financing. And they 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

About PhoneFactor PhoneFactor is a leading provider of multi-factor authentication services. The company's award-winning platform by the same name uses any phone as a second form of authentication. PhoneFactor's out-of-band architecture and real-time fraud alerts provide strong security for enterprise and consumer applications. It is easy and cost effective to set up and deploy to large numbers of geographically diverse users. PhoneFactor was recently named to the Bank Technology News FutureNow list of the top 10 technology innovators securing the banking industry today and a finalist in 2010 SC Magazine Reader Trust Awards. Learn more at

Forward Looking Statements for Fundtech:

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 Fundtec h's public filings, including its Annual Report on Form 20-F for the year ended December 31, 2009, including general economic and market conditions, changes in regulations and taxes and changes in competition in pricing environment. Undue 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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