Meanwhile, Fundtech announced that Rabobank Nederland has signed a contract for its browser-based, integrated, Payplus for CLS solution. Payplus allows settlement members to process their own transactions, as well as offer their FX settlement services to user members and third parties. Fundtech says Payplus supports STP by interfacing to internal bank systems.
Paul Jans, who is leading the CLS project for Rabobank, says, “Rabobank Nederland is fully committed to the implementation of CLS and the reduction of foreign exchange settlement risk. We believe our investment in Fundtech’s cutting-edge Payplus for CLS solution will maximise the efficiency of our CLS initiative, lead to greater risk reduction internally and improved customer service for our partner and third party banks.