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Payments Execs Leery of More Regulation, Survey Says

JERSEY CITY, NJ - April 22 — Fundtech Ltd., a global transaction banking solutions provider, today announced the results of a survey of payments industry participants. Survey results show pronounced differences between members of the corporate and banking communities on the matter of further government regulation, as well as an overall trend towards increasing value-added services in the industry.

JERSEY CITY, NJ - April 22 — Fundtech Ltd., a global transaction banking solutions provider, today announced the results of a survey of payments industry participants. Survey results show pronounced differences between members of the corporate and banking communities on the matter of further government regulation, as well as an overall trend towards increasing value-added services in the industry.

Fundtech is offering the first live global webcast originating from NACHA's annual PAYMENTS 2010 Conference, to be held on Monday, April 26. Over 400 people who have registered for the webcast were surveyed to gauge their opinions on industry issues. Among survey participants, the most contentious issue was whether further government regulation of the financial industry is necessary to prevent future financial crises.

There is strong agreement (76% of respondents) that new regulations are not needed to prevent future financial crises. By sector, however, opinions are much more divided: 37% of corporate respondents see the need for further regulation, while only 19% of bankers believe this is necessary.

The survey uncovered the following findings:

  • 60% of respondents think that combining data, including remittance data, EDI data and electronic invoice presentment, with payment processing is an important upcoming trend and a value-added service they should offer to their business clients
  • Of those, only 47% indicate their banks are already pursuing this strategy, indicating great room for growth in this sector. When asked who is to blame for the liquidity crisis — bankers not lending or an absence of qualified borrowers — about 45% said both are to blame. However, 28% of corporates think that the crisis was caused by a reluctance to lend on the part of the banks, while only 13% of the bankers think this way
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