“Market penetration of these solutions is still in the early stages, which creates significant opportunities for companies like a combined Fundtech and D+H that have the scale, proven technology solutions, strong banking domain knowledge and trusted client relationships to compete in this market,” the corporation said.

“Payments are massively important to banks these days and Fundtech is a market leader in payment hubs,” D+H Chief Executive Gerrard Schmid said in an interview, adding that this deal will give D+H scale in a technology area that is currently very relevant for banks as payment systems are evolving rapidly.

Schmid said he sees the deal raising D+H's earnings within the first 12 months following its close. He also noted that Fundtech's revenue flow is highly recurring, with about half of it coming from the U.S. market.

This is just the latest salvo fired by D+H in its expansion mode. In 2008, the financial crisis left many FinTech companies in a cloud of uncertainty and hesitation, but Schmid viewed things differently. At the 2014 AFT Fall Summit, he revealed D+H “saw 2008 as the greatest opportunity of our lifetime,” and went on to state, “We knew the financial industry was going to need a broad spectrum of uniquely innovative technologies and quickly, so we resolved to be there for our clients.”

D+H, once known as a check program company, completed a number of strategic acquisitions since 2008 including Resolve Business Outsourcing Income Fund, Asset, Mortgagebot, Avista Solutions and Compushare.

Almost two years ago, D+H purchased U.S. competitor Harland Financial Solutions for about $1.2 billion in cash. That pact's intention was to widen D+H's offerings for online and mobile banking, branch automation and commercial lending, mainly for credit unions and community banks.

The organization integrated all those brands under the D+H banner, and they now have more than 7,000 clients across North America. In the most recent IDC Financial Insights FinTech Rankings, D+H placed in the top 25 global firms.

The New York-based Fundtech, which has some 1,500 employees and 19 offices globally, provides a wide-ranging line of transaction banking software that facilitates global and domestic payments, along with financial messaging, corporate cash management and merchant services. Fundtech has approximately 1,200 clients.

The Fundtech acquisition extends D+H's U.S. customer base and amplifies its prospects in North America. It will now service 32 of the world's top 50 financial institutions (including eight of the top 10), along with about 190 of the top 300 U.S. financial institutions.