Fundtech has received two additional orders for its flagship payments product, Global PAYplus totaling approximately $10.0 million.
The orders were received from Bank Austria Creditanstalt and from a large existing customer, and revenues from these orders will be recognized over the implementation periods of the two projects. Bank Austria Creditanstalt, the largest bank in Austria with approximately $165 billion in assets, has selected Global PAYplus to be its new payments platform. Bank Austria Creditanstalt's two-year phased roll-out of GPP will cover up to 16 countries throughout the Central and Eastern European Region, beginning with the Czech Republic and Hungary in 2003.
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