Fiserv, Inc. (NASDAQ:FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company serves more than 21,000 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. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007.

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Whitepaper: Convergent Payments Optimization: Service-Oriented Technology Creates a Single Hallway for Payments Processing

by FiservFeb 01, 2009

Streamlining payments processing is an effective way to improve financial institution profitability, especially now when payments account for a greater percentage of financial institution revenue. Through a convergent payments solution, dramatic reductions in cost can be realized. In addition, the new services that a convergent payments solution enables are highly valued by corporate treasurers. Financial institutions can use these services to defend and increase market share while enhancing revenues. Fiserv research points to the fact that corporations will be willing to change processors and even pay higher fees to get the speed, safety, transparency and control that a convergent payments solution provides. Fiserv has developed the Convergent Payments Optimization approach and Convergent Payments Solutions based upon input gleaned from financial institutions and its experience as a payments processor. This has resulted in three points of differentiation found only in Convergent Payments Solutions from Fiserv: 1. ACH is the normative transaction. 2. A single hallway approach is leveraged to facilitate cost containment, reduce errors and prevent fraud. 3. SOA architecture facilitates a variety of deployment and data access options. Fiserv is confident that its Convergent Payments Optimization approach provides the right combination of benefits, including cost reduction, customer value and operational risk management. In addition, Fiserv believes that it can bring all the advantages of converged payments processing to a wide range of financial institutions.

Whitepaper: ACH Outsourcing: A Profitability Enhancing Option for Mid-Tier and Large Financial Institutions

by FiservFeb 01, 2009

The credit crisis has exacerbated the need for financial institutions to reduce operating costs, safeguard customer relationships and maximize revenue potential. Until recently, most financial institutions counted on their payments business to generate between 15 to 30 percent of total revenue. However, due to the decline in credit products, payments now represent an even larger share of overall revenue and protecting that income is mission-critical. To make the payments business more profitable, financial institutions must first look at ways to reduce or eliminate cost. Technology and staffing have always accounted for a significant portion of the expenses associated with running a payments business. With check volumes declining and ACH ransactions becoming more prevalent, it is increasingly complicated for financial institutions to control per-item processing costs. And, keeping up with regulatory compliance also requires extensive resources and institutional focus. One way for financial institutions to reduce payments-related expenses is to migrate from the primarily fixed-cost model of Automated Clearing House (ACH) processing to a variable cost solution. By shifting work and systems management to a solutions provider, financial institutions can reduce costs while improving customer service and payments product delivery.

Whitepaper: Leveraging Outsourced Payments Product Management

by FiservJan 01, 2009

In the United States, financial institutions, on average, derive 30-40 percent of their revenue from payments. Therefore, the massive transformation from paper-based to electronic-based payments processing is putting financial institution profitability at risk.

While Check 21 enactment in 2004 set many of the payments industry changes into motion, a number of other factors over the past decade have had a material effect on paper and electronic volumes. Increased debit card use and a variety of practices that convert checks to ACH transactions (ARC, POP, WEB, TEL, BOC, etc.) have dramatically reduced the volume of checks processed through the high fixed-cost paper processing infrastructure. Responding to all of these events has required a significant investment, in both dollars and manpower, from financial institutions of all sizes. Institutions have managed the changes using different strategies and senses of urgency. But, despite their different approaches, it is crystal clear that there can be no bystanders. Every financial institution must adapt to the changing payments landscape.

Whitepaper: Payments Issues Facing Small to Mid-sized Financial Institutions

by FiservJun 18, 2008

Financial institutions with less than $5 billion in assets are constantly facing pressure from larger institutions and peer competitors. Currently, payment channel changes are also adding to that pressure. Although small and mid-sized institutions were among the first to adopt image processing and check safekeeping, the lead in image product deployment now belongs to their larger competitors. To safeguard and cultivate deposit relationships, small and mid-sized financial institutions must formulate payment channel strategies that address image inclearings, remote deposit and branch truncation.

Defending market share and retaining commercial customers depends on making the right decisions at the right time. Though paper-based presentment is approaching its sunset, the landscape is not all dark. In fact, reports on the success of remote deposit capture suggest it is the dawn of considerable opportunity for banks of all sizes. There are also banking and consumer trends on the horizon that will shed light on additional ways for small to mid-sized institutions to cultivate more business.

Optimizing payment channel transformation will help to differentiate small and mid-sized financial institutions and fortify them against the loss of business. This paper provides insight into the electronic/image payment changes that financial institutions should be adopting now and which ones can wait.

Whitepaper: The Road to Customer-Centricity: Driving Success in Tomorrow's Banking Business

by FiservJan 01, 2008

This paper published by Fiserv explains that a customer-centric bank uses business strategies across the company to best serve customers - it is a bank that revolves around its customers and what is best for them. The culture of a customer-centric bank is focused around the overall customer experience, not sales. For designing a customer-centric bank, it is important to embed some principles into the business plan such as: focus on the customer relationship; create valuable (and memorable) customer interactions; utilize data analytics and data mining techniques; and design flexible products which are described in detail in this paper.