Pune-based Fundtech India has announced its plan to make a strong foray into European banking sector.

The company plans to have 18 to 20 international banks under its belt by March 2010.

It should be noted, the company has already signed a contract with a large multi-national bank from Greece while Barclays Bank-India has extended its deal for Indonesia.
In addition, it is also looking at banks from Germany, Switzerland, Italy and France to sign cash management solutions contracts.

Recently, the company has struck deals with 12 Asian banks and one European bank for its Global CashPlus product.

Global CASHplus is an extension of Fundtech's end-to-end-to-end (also referred to as E-to-E2) strategy, which expands the traditional boundaries of global end-to-end transaction banking to include corporate clients and their trading partners.

At present, Fundtech India has HDFC bank as its customer in India and it manages more than 10 lakh on-line transactions for the bank in a day during peak periods.

Apart from domestic market, Fundtech's Global CashPlus has five clients in Thailand and a client each in Malaysia, Philipines, Indonesia and few other countries.