FundTech Launches Mobile App for Smaller Banks

Global transaction banking services provider FundTech has announced the launch of an RDC-enabled standalone mobile app. Called NetDeposit Mobile Express, the app will enable midsize banks to offer the same mobile services larger banks do. The product will be white-labeled and offered by financial institutions.

“Larger banks have invested in this technology already,” said George Ravich, FundTech Executive Vice President and Chief Marketing Officer. “Smaller banks, by and large, have not.”

NetDeposit Mobile Express will operate on top of FundTech’s existing NetDeposit platform to offer fraud detection, error detection, and multi-language support.

FundTech is a privately held company. Most of its transaction processing business is done with larger banks. FundTech’s move downmarket might seem unexpected, but the company already has 400,000 end-users employing its RDC solution, which is embedded in other apps.

The app was brought to market in partnership with Asseco Group, an Eastern European software firm. “FundTech is making its way into the consumer space,” said Ravich, leveraging its strong corporate base.