DH Corporation announced on March 30th 2015 its plans to acquire Fundtech, one of the global leader in providing payment and transaction banking solutions.
Image: company website
The move marks the emergence of DH as a topmost FinTech provider with an expansion into global payments. DH Corporations, headquartered in Toronto, Canada has more than 4000 employees throughout the world. It provides financial technology to the world’s topmost financial institutions for their day to day operations. Its services include payment, lending and enterprise solutions. Its client base is composed of approximately 7000 banks, credit unions, specialty lenders and governments. Fundtech, founded in 1993 and acquired by Chicago based private equity firm GTCR in 2011 has its headquarters in NY City and provides financial technology solutions to banks and corporations North America, EMEA and APAC region. Overall, it has 1500 employees in 19 offices worldwide. Fundtech’s solutions are critical in the day to day operations of its clients that includes top banks and corporations. The banking solutions provided by the company include financial messaging, merchant services, corporate cash and liquidity management and domestic payment solutions.
The deal increases the US customer base of DH and enhances growth opportunities in North America, EMEA and APAC regions. It also provides acc4ess to the top clientele of Fundtech, including 32 of the world’s top 50 banks and 8 of the top 10 world’s banks.