CashTech wins international accolades

PUNE: CashTech Solutions India, a subsidiary of Fundtech Ltd, and a provider of corporate electronic banking and cash management solutions, has been conferred two international awards for its cash management products.

CashTech said in a statement that it was adjudged 'Best Cash Management Software Company' in Euromoney's Financial Technology Awards 2005. The Banker, a Financial Times London publication, has also rated CashTech "Highly Commendable" in the Cash Management category for the year 2005.

The Euromoney Financial Technology Awards recognise the finest financial technology providers across the world in different categories such as trading, risk management, portfolio management, customer relationship and cash management.

According to a statement issued here, Euromoney conducted a financial technology users' survey - a global rating of the top financial technology vendors, based on customer satisfaction where customers are required to rate a solution vendor on a 10-point scale on criteria like service, usability, return on investment and cost, and overall satisfaction.

According to The Banker, "For a new entrant in the cash management arena, things must be right from the outset. CashTech deployed its CashIn solution for one bank in precisely these circumstances. To provide a complete range of services in a tight timeframe is not easy and in this instance the challenge was increased as the bank had no branches and wished to offer cash management via its nationwide coordinator network. This required a system at each location linking to a central database held by the bank. The speed with which the implementation was achieved, including integration to existing systems, testing and customisation, was well received and worthy of commendation."