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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
Rule 13d-101

Information to be Included in Statements Filed pursuant to Rule 13d-1(a)
and Amendments Thereto Filed Pursuant to Rule 13d-2(a)
(Amendment No. 7)

                                        FUNDTECH LTD.                                      
(Name of Issuer)

    ORDINARY SHARES, PAR VALUE NIS 0.01 PER SHARE    
(Title of Class of Securities)

                                              M47095100                                              
(CUSIP Number)

Nitsa Einan, Adv.
Clal Industries and Investments Ltd.
3 Azrieli Center, Triangle Tower
Tel Aviv, 67023
Tel: 972-3-6075795
Israel

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

                                           February 19, 2002                                            
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box ¨

Note: Schedules filed in paper format shall include a signed original and five copies of the Schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Page 1 of 10 pages

SCHEDULE 13D

CUSIP No. M47095100 Page 2 of 10 pages

1	NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Clal Industries and Investments Ltd. (no U.S. I.D. number)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *			(a) x (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS* WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2 (D) OR 2 (E)				¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION Israel
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
		8	SHARED VOTING POWER 4,486,997 shares
		9	SOLE DISPOSITIVE POWER
		10	SHARED DISPOSITIVE POWER 4,486,997 shares
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON                     4,486,997 shares
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                     33.43%
14	TYPE OF REPORTING PERSON*                     CO

*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

SCHEDULE 13D

CUSIP No. M47095100 Page 3 of 10 pages

1	NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS IDB Development Corporation Ltd. (no U.S. I.D. number)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *			(a) x (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS* Not Applicable
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2 (D) OR 2 (E)				¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION Israel
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
		8	SHARED VOTING POWER 4,486,997 shares
		9	SOLE DISPOSITIVE POWER
		10	SHARED DISPOSITIVE POWER 4,486,997 shares
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON                4,486,997 shares
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                33.43%
14	TYPE OF REPORTING PERSON*                CO

*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

SCHEDULE 13D

CUSIP No. M47095100 Page 4 of 10 pages

1	NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS IDB Holding Corporation Ltd. (no U.S. I.D. number)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *			(a) x (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS* Not Applicable
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2 (D) OR 2 (E)				¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION Israel
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
		8	SHARED VOTING POWER 4,486,997 shares
		9	SOLE DISPOSITIVE POWER
		10	SHARED DISPOSITIVE POWER 4,486,997 shares
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON                 4,486,997 shares
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                33.43%
14	TYPE OF REPORTING PERSON* CO

*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

SCHEDULE 13D

CUSIP No. M47095100 Page 5 of 10 pages

1	NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Leon Recanati
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *			(a) x (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS* Not Applicable
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2 (D) OR 2 (E)				¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION Israel
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 3,200
		8	SHARED VOTING POWER 4,486,997 shares
		9	SOLE DISPOSITIVE POWER 3,200
		10	SHARED DISPOSITIVE POWER 4,486,997 shares
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON                4,490,197 shares
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)               33.45%
14	TYPE OF REPORTING PERSON* IN

*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

SCHEDULE 13D

CUSIP No. M47095100 Page 6 of 10 pages

1	NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Oudi Recanati
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *			(a) x (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS* Not Applicable
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2 (D) OR 2 (E)				¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION Israel
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
		8	SHARED VOTING POWER 4,486,997 shares
		9	SOLE DISPOSITIVE POWER
		10	SHARED DISPOSITIVE POWER 4,486,997 shares
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON                4,486,997 shares
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 33.43%
14	TYPE OF REPORTING PERSON* IN

*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

SCHEDULE 13D

CUSIP No. M47095100 Page 7 of 10 pages

1	NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Elaine Recanati
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *			(a) x (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS* Not Applicable
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2 (D) OR 2 (E)				¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
		8	SHARED VOTING POWER 4,486,997 shares
		9	SOLE DISPOSITIVE POWER
		10	SHARED DISPOSITIVE POWER 4,486,997 shares
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON                   4,486,997 shares
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                 33.43%
14	TYPE OF REPORTING PERSON*                 IN

*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

SCHEDULE 13D

CUSIP No. M47095100 Page 8 of 10 pages

1	NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Judith Yovel Recanati
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *			(a) x (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS* Not Applicable
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2 (D) OR 2 (E)				¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION Israel
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
		8	SHARED VOTING POWER 4,486,997 shares
		9	SOLE DISPOSITIVE POWER
		10	SHARED DISPOSITIVE POWER 4,486,997 shares
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON                    4,486,997 shares
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 33.43%
14	TYPE OF REPORTING PERSON* IN

*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

This Amendment No. 7 amends Items 3 and 5 of this Statement on Schedule 13D, as previously filed with the Securities and Exchange Commission. Unless otherwise defined in this Amendment No. 7 to Schedule 13D, capitalized terms have the meanings given to them in Schedule 13D previously filed.

Item 3. Source and Amount of Funds or Other Consideration

On various dates from February 15, 2002, through February 28, 2002 Clal Industries acquired an aggregate of 420,500 Ordinary Shares in open market transactions on the NASDAQ at prices ranging from $3.540 to $3.950 per share.

The cost of the 420,500 Ordinary Shares was funded out of working capital of Clal Industries.

Item 5. Interest in Securities of the Issuer

The Issuer has advised the Reporting Persons that there were 14,278,096 Ordinary Shares outstanding on December 31, 2001. The percentages of Ordinary Shares outstanding set forth in this Statement are based on this number.

As of February 28, 2002, Clal Industries was the direct owner of 4,486,997 Ordinary Shares of the Issuer. As a result of the direct ownership of these Ordinary Shares of the Issuer by Clal Industries and the Reporting Persons direct or indirect ownership interests in Clal Industries, the Reporting Persons may be deemed to share the power to vote and dispose of 4,486,997 Ordinary Shares of the Issuer, constituting approximately 33.43% of the Ordinary Shares of the Issuer.

On August 20, 2001, Clal Electronics purchased 25,000 Ordinary Shares of the Issuer in open market transactions on the NASDAQ, not 27,000 as previously reported in Amendment No. 6 to this Schedule 13D.

During the period from September 20, 2001 (the day after the last transaction reported in Schedule 13D) through February 28, 2002, Clal Industries made the following purchases of Ordinary Shares of the Issuer, all of which were made in open market transactions on the NASDAQ:

Date	Amount of Ordinary Shares	Price Per Share
February 15, 2002	40,000	$3.710
February 15, 2002	25,000	$3.810
February 19, 2002	35,000	$3.680
February 19, 2002	10,000	$3.630
February 19, 2002	10,000	$3.600
February 19, 2002	10,000	$3.590
February 19, 2002	10,000	$3.580
February 19, 2002	10,000	$3.570
February 19, 2002	5,000	$3.550
February 20, 2002	10,000	$3.560
February 20, 2002	100,000	$3.540

Page 9 of 10 pages

Date	Amount of Ordinary Shares	Price Per Share
February 21, 2002	10,000	$3.580
February 21, 2002	10,000	$3.720
February 21, 2002	80,000	$3.560
February 21, 2002	10,000	$3.680
February 22, 2002	5,000	$3.700
February 22, 2002	5,000	$3.730
February 26, 2002	21,500	$3.950
February 27, 2002	5,000	$3.900
February 28, 2002	4,000	$3.830
February 28, 2002	5,000	$3.840

As of February 28, 2002, IDB Holding, IDB Development and the Reporting Persons who are natural persons may be deemed to share the power to vote and dispose of the 4,486,997 Ordinary Shares held by Clal Industries, constituting approximately 33.43% of the Ordinary Shares. In addition, Mr. Leon Recanati had the sole power to vote and dispose of 3,200 Ordinary Shares of the Issuer, constituting approximately 0.02% of the Ordinary Shares of the Issuer.

Based on information furnished to the Reporting Persons, Mr. Meir Shannie, the President and Chief Executive Officer Of Clal Industries, and Mr. Yeoshua Agassi, the Vice President of Business Development of Clal Industries, each hold options for 3,000 Ordinary Shares which are exercise within 60 days after March 19, 2002.

Signature

After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct.

Dated: as of March 19, 2002

CLAL INDUSTRIES AND INVESTMENTS LTD.
IDB DEVELOPMENT CORPORATION LTD.
IDB HOLDING CORPORATION LTD.
LEON RECANATI
OUDI RECANATI
ELAINE RECANATI
JUDITH YOVEL RECANATI

By: IDB HOLDING CORPORATION LTD.

By:              S/JAMES I. EDELSON                                          

James I. Edelson, U.S. Resident Secretary of IDB Holding Corporation Ltd. for itself and on behalf of Clal Industries and Investments Ltd., IDB Development Corporation Ltd., Leon Recanati, Oudi Recanati, Elaine Recanati and Judith Yovel Recanati pursuant to the agreements annexed to Amendment No. 6 to Schedule 13D as exhibits 4-9, as filed.

Page 10 of 10 pages