Under the agreement, PNC is set to provide foreign exchange (FX) transaction processing through Fundtech’s US federal wire system. Banks using Fundtech’s PAYplus USA will be able to offer their commercial clients integrated real-time FX payment processing using PNC Bank as their correspondent.
Fundtech currently operates the world’s largest SWIFT service bureau providing financial messaging to over 600 financial institutions and 75 corporations. In recent news, Fundtech has launched a hosted version of Global CASHplus (GCP), its cash management service.
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