The platform is expected to deliver improved service and significant savings in operating costs to HSBC through the replacement of multiple payment systems currently in use throughout the bank.
Moving to a single platform not only improves our operating efficiencies, it also enables us to enhance the service we provide to customers and continue to grow our global payments business. This investment will ensure that HSBC stays at the forefront of the payments business, said Bob Murphy, Senior vice president for Global Payments at HSBC.
The deal comes as Fundtech informs of fourth-quarter 2004 revenues of $17m and predicts revenues reaching $68m to $70m, or 18% to 21% growth, for 2005.
