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BANKLINK, a business unit of Fiserv, Inc (NASDAQ: FISV), a leading provider of information technology services to the financial services industry worldwide, today announced extraordinary growth in 2006 with 200 new customers using the Remote Deposit and Automated Clearing House (ACH) Conversion solutions. These new customers, including five of the largest 25 banks in the United States, doubled the total number of customers for the product.
Fiserv BANKLINK also announced additional product enhancements, simplifying integration technology and expanding data collection to further expand market penetration. These product enhancements will be on display at the NACHA, The Electronic Payments Association, Annual Payments Conference in Chicago on April 16th and 17th.
“We have had tremendous adoption of our Remote Deposit product across all market segments, especially the large bank segment, and we look forward to even greater success in 2007,” said Rahul Gupta, president, Fiserv Payment and Industry Products Group. “Large and small business customers are rapidly adopting this technology leading to wide spread market acceptance. This is expected to further accelerate with the recent NACHA rule changes for back office conversion of checks.”
“Financial institutions are clearly seeking to integrate their corporate capture solutions into their existing on-line cash management offering, and Fiserv appears to be well positioned to deliver,” comments Bob Meara, senior analyst with Celent. “Fiserv’s significant market success in the past 12 – 18 months ranks it among the faster growing vendors in the burgeoning remote deposit capture marketplace.”
The Remote Deposit Capture Product allows banks to offer their clients the ability to digitize their check deposits from remote locations and transmit them via the Web to their bank for deposit real time, either leveraging Check 21 legislation or Automated Clearing House (ACH) conversion rules. Fiserv has further enhanced its market-leading solution to include more robust data capture and more flexible system integration tools. The iLINK Remote Deposit Capture solution enables the following:
• Allow flexible mapping and integration into any bank, regardless of the vendor or proprietary back office item processing system;
• Create and send posting files to any account (DDA) processing system;
• Originate and route different deposit files to separate bank processing locations based upon ABA number;
• Provide additional capture of front end data that can be passed to the bank’s DDA system, and included on client statements and account reporting information, thus enhancing the clients’ monthly statements, enabling location deposit audit trails.
“With these enhancements, Fiserv can offer not only a robust, tightly integrated solution across the current Fiserv client base, but also expand on our best-in-class solution to integrate with virtually any back office item processing and Image Exchange system” said Jim Gillespie, Fiserv BANKLINK vice president of product management. “The community and regional banks continue to seek a broad, tightly integrated suite of products from their current trusted vendor, while the large money center banks continue to look for best-in-class by functional module. These enhanced capabilities clearly allow Fiserv to deliver a remote deposit solution effectively across all bank market segments.”
iLINK Remote Deposit is a module of the market leading iLINK suite of commercial banking products offered by Fiserv BANKLINK. Other modules include: Real Time Information Reporting, ACH Origination, Wire Initiation, Wire Processing, Positive Pay, Cash Concentration, Data Exchange, Sweeps, Multi-Bank Reporting, Small Business Bill Payment, Multi-Factor Authentication, Single Sign-On, Special Reports, Loan Payments and Reporting, Alerts and Controlled Disbursement. The entire suite of products will be available for viewing at the 2007 Payments Conference in Chicago.
About BANKLINK
BANKLINK is a best-in-class, market leading provider of innovative treasury management products and services for financial institutions. BANKLINK offers the iLINK platform of treasury management products including: balance reporting, transaction initiation services (ACH origination, wire initiations, cash concentration), remote deposit, positive pay, small business bill payment & presentment, data exchange and many related services. BANKLINK, a business unit of Fiserv Inc., is celebrating its thirtieth year in business and is located in New York City.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 18,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.5 billion in total revenue for 2006. For more information, please visit www.fiserv.com.
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