| Upcoming Events |
Join Fiserv Item Processing at the following upcoming events:
March 2 - 5, 2008
Marriott Orlando World Center
CBS Worldwide Users Conference,
March 10 - 11, Disney Contemporary, Orlando
ACB Bank Operations and Technology and Security Conference,
April 6 - 9, 2008
Baltimore
ITI Premier National Client Conference
April 20 - 22, 2008
J.W. Marriott, Orlando
PCS National Client Conference
April 22 - 24, 2008
J.W. Marriott, Orlando
Remote Deposit Capture Summit
April 28 - 29, 2008
Gaylord National Resort and Convention Center
National City, MD/Washington DC
VISION National Client Conference
May 5 - 7, 2008
Hyatt Regency Coconut Point
Bonita Springs, Florida
NACHA
May 19 - 20, 2008
MGM Grand
Las Vegas |
| Save the Date! |
We are in the planning stages for two great Fiserv client conferences in 2008. All IP clients will be invited. Stay tuned for more information.
Sept 10 - 12, 2008
Eastern Client Conference
Location TBD
Sept 15 - 16, 2008
Western Client Conference
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| Fiserv Becomes Viewpointe Archive User |
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Fiserv to Become Viewpointe Archive User to Drive Further Check Electronification
Companies agree to ImageShare™ exchange and are pursuing a strategic product alliance to leverage synergies
On Jan 8, 2008 Fiserv issued an important press release announcing an expanded partnership with Viewpointe.
Brookfield, Wis., and New York, January 8, 2008-Fiserv, Inc. (NASDAQ: FISV), the nation's largest third-party check processor based in Brookfield, Wis., and New York, N.Y.-based Viewpointe, LLC, a leading provider of check image exchange and archive services, announced today that Fiserv will become Viewpointe's newest archive user.
Fiserv will use the Viewpointe archive to expand its current image storage offerings to its 1,600 check processing clients. As an archive user, Fiserv joins several of the nation's largest financial institutions in having access to the most robust common archive in the industry. Fiserv will continue to use its current image archive for delivery of products such as image statements, CD/ROMs and DVDs.
Beyond the archive agreement, Fiserv will use Viewpointe's ImageShare™ product, allowing the company to efficiently share check images on behalf of its 1,600 check processing clients with Viewpointe's financial institution customers. Fiserv and Viewpointe are also pursuing a strategic product alliance in which both companies will leverage their individual strengths to bring greater value and product innovation to the payments industry.
"Using Viewpointe's 'industrial-strength' archive enhances our ability to offer image solutions to serve financial institutions of all sizes and goes a long way toward meeting our vision of furthering the electronification of the industry," said Tom Warsop, Fiserv president, Financial Institutions Group. "This agreement is very much in the mold of Fiserv 2.0, a Fiserv strategic initiative designed to drive innovation and to create best-in-class products for our clients. We started in 2005 as a Pointe2Pointe™ user. This agreement expands the relationship significantly and positions both companies for an even stronger relationship as payments convergence becomes a reality." The full press release is available on fiservip.com. |
| Checks Still #1 NonCash Payment Type |
In December 2007, the Fed released its updated payments study. The findings showed that checks were still the #1 non cash payment type, but debit and credit cards are quickly catching up. The annual number of checks paid in 2006 was estimated at 30.6 billion, for a value of $41.7 trillion. The number of checks paid decreased 6.4 percent per year between 2003 and 2006. Because of the increased use of the ACH to convert checks by billers and merchants, the number of checks paid differs from the number of checks written. The number of checks written decreased 4.1 percent per year. Debit card volume was up to 25.3 billion in 2006, increasing at 17.5% CAGR, credit card volume was 21.7 billion, increasing at 4.6%. ACH volume grew to 14.6 billion and had the highest annual growth rate of 18.6%. |
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| ViewPoint Bank Succeeds with Branch Capture and Fiserv Clearing Network |
ViewPoint Bank is a $1.6 billion asset bank with 30 branches in the Dallas-Fort Worth Metroplex. After 52 years as a credit union, the institution switched charters to become a mutual savings institution in January 2006.
A Fiserv CBS Worldwide client for core processing and Fiserv Item Processing for checks, the bank operates in a real time processing environment.
In 2006, the bank started to look at changing from traditional item processing through the Dallas IP center to a branch capture solution with image exchange. The bank's key objective was to protect its processing window. Jim Parks, Chief Operations Officer and Chief Information Officer at ViewPoint explains, "We allow customer deposits throughout the day and don't have an actual cutoff time. But as traffic around Dallas continues to get more congested, that becomes a challenge because the processing window is being threatened."
The bank analyzed a number of factors before choosing Fiserv ImageStream Branch Capture and Fiserv Clearing Network (FCN). First was reliability. "We needed to ensure that the new system would be just as reliable as the old one of sending paper items to a Fiserv item processing center and using the Fed for clearing," says Mr. Parks. Another factor was complexity. "We looked at how complex it would be to switch to branch capture and how much training would be required for the branch staff, many of whom have limited experience with technology," says Mr. Parks. In both cases, Fiserv was able to demonstrate that ImageStream has proven reliability, a straight forward installation process and ongoing support for branch operators. When it came to FCN, "The numbers spoke for themselves. It was an easy sell for FCN once we looked at the math in terms of improved availability," he says.
"The most exciting part of this whole process, is that we are now achieving 99% same day availability of funds. That provides a significant competitive advantage to us that we can pass on to our commercial customers," enthuses Mr. Parks. In addition, the bank can keep its flexible deposit schedules with less worry about processing deadlines. "We have reduced our courier runs significantly and have a lot more flexibility with the ones that are left. We've managed to reduce our inter-branch correspondence, and that saves us money as well as streamlining our process."
When asked what he would say to other financial institutions about the solution, Jim Parks had the following advice, "If you are considering a branch capture solution, join FCN as well. It really pays to do both, and joining FCN is virtually transparent. But don't wait. There is no advantage to be gained in postponing your decision. The technology is ready and working now. We are absolutely satisfied with our decision to use Fiserv branch capture and FCN." To read the full story visit our website: www.fiservip.com |
| RemitStream Solutions Looks Ahead in 2008 |
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As 2008 gets underway, RemitStream Solutions, the Fiserv remittance processing company, reports that its client base has grown to 79 financial institutions thanks to new product offerings and a continued commitment to meeting client needs. During 2008, RemitStream Solutions plans to introduce a healthcare lockbox service, remote lockbox deposit capture integrated with traditional lockbox paper processing, and an electronic lockbox service that integrates lockbox services with online bill payment. Processing platform enhancements will enable improved operating efficiency and new products and services, including: additional processing locations, satellite lockbox sites at IP locations and X9.37 file creation out of the lockbox sites. These are just a few of the many upgrades and enhancements that RemitStream Solutions has planned for 2008.
For more information on creating a paperless work environment, call 312-660-7185 or visit the RemitStream Solutions web site at www.remitstream.com. | |
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