Cash management solutions provider Fundtech India Ltd is entering the European banking sector with its product Global CashPlus. The Pune-based company has already signed deals with 12 Asian banks and a European bank for its product and plans to have 18 to 20 international banks under its belt by March 2010.
Fundtech India Ltd CEO Sanjay Dalmia said, “Japan and Europe are the most advanced markets when it comes to implementation of online cash management solutions. Banks in these countries are constantly upgrading their systems and services, where in we find a huge market for our product Global CashPlus.”
The company has already signed a contract with a multinational bank in Greece while Barclay’s Bank-India has extended its deal for Indonesia. Fundtech is also looking at banks in Germany, Switzerland, Italy and France to sign contracts. “We are doing online transactions worth Rs 4,000 to Rs 5,000 crore every day across,” Dalmia added.