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FundsTech Corp Announces New Strategic Partner in Worldwide Prepaid Debit Card Space

PONTE VEDRA BEACH, Fla., April 19 /PRNewswire-FirstCall/ -- FundsTech Corp (OTC Bulletin Board: FNDS) announced today that it has signed an agreement with its first international partner Symelation to provide a prepaid debit card solution to its customers in South Africa.

Michael Dodak, Chief Executive Officer of FundsTech Corp stated: 'The deployment of the FundsTech prepaid debit card is the first important milestone of our business plan. Recurring revenue from financial transactions, such as those expected from the prepaid card is one of the core strategies of FundsTech Corp. We welcome Symelation to our base of Worldwide Strategic Partners.'

Sybille McCloghrie, CEO of Symelation said, 'There are an estimated 13 million unbanked individuals in South Africa alone. Estimates indicate 6 million South Africans are sending away over R12 billion ($2 billion U.S.) in cash annually. We see South Africa as the launch pad for servicing the untapped potential present in the remaining under banked African continent. The introduction of FundsTech prepaid debit card solution complements the South African Government's drive towards the economic advancement of small and medium black owned enterprises.

About FundsTech Corp

FundsTech Corp. develops and markets two core product lines for the financial services industry. It provides a low cost, state of the art prepaid debit card solution for the unbanked population worldwide. It also provides software solutions to Financial Institutions and strategic partners in the secure I.T. network management space.

For more information, visit www.fundstechcorp.com

About Symelation (Pty) Limited:

Symelation provides specific Information Technology and business services and solutions that assist private and public sector organisations in optimising their operations. One of the most important projects of Symelation is the establishment of a logistics and procurement 'Hub' for Small, Medium and Micro Enterprises (SMMEs). Symelation works in conjunction with Government, the SMME Forum and two leading South African based companies who are providing internet solutions as well as logistics and supply chain expertise.

Sybille McCloghrie
Mobile: [phone]
Telephone: [phone]
Facsimile: [phone]
South African Facsimile: 0866 746 730
Physical Address: 127 Ann Road, Ruimsig, 1732, South Africa
Postal Address: P.O. Box 533, Ruimsig, 1732, South Africa
Website: http://www.symelation.com

Matters discussed in this press release contain forward looking statements as defined under the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risk and uncertainties, which could significantly impact the actual results, performance or achievements of the Company. Such risks and uncertainties include, but are limited to, the time frame for production of revenue, product development and commercial introduction, the impact of rapid price and technological change and competition, manufacturing and supply uncertainties and other risks as may be detailed from time to time in the Company's periodic reports filed with the Securities & Exchange Commission.

Company Contact:
David Fann
President
904-273-2794
[e-mail]
www.fundstechcorp.com

SOURCE FundsTech Corp

Source: PR Newswire (April 19, 2007 - 9:01 AM EDT)

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