BANKLINK ADDS POSITIVE PAY TO ITS iLINK SUITE OF PREMIER CASH MANAGEMENT SERVICES.Business Editors NEW YORK--(BUSINESS WIRE)--July 29, 2003 New solution is flexible enough to work with any bank's Account Reconciliation Program (ARP) System BANKLINK, a unit of Fiserv, Inc. (Nasdaq: FISV FISV Fiserv, Inc (stock symbol) ) and a leading provider of Web-based treasury management products and services, announced today the introduction of a new Positive Pay solution that financial institutions can use to combat check fraud as well as generate additional revenue from their business customers. iLINK(TM) Positive Pay provides corporate customers an opportunity to make explicit decisions for payment on check items that have been presented on their accounts. This solution empowers the corporate user to decide which checks should be paid, providing them additional assurance that they have a safeguard against losing money through fraudulent or invalid checks. "Now corporate customers have an easy-to-use, reliable service that directly puts them in control of the check approval process and protects them against check fraud," said Paul A. Frank, BANKLINK's President. "By helping their customers protect themselves, financial institutions also help themselves by increasing customer loyalty and revenue, reducing check fraud, and positioning their organization as an innovative and progressive provider of treasury management services." iLINK Positive Pay provides a comprehensive, integrated product that imports and creates check issuance files. These files are aggregated on the BANKLINK server and extracted by the financial institution for processing by any ARP system. The ARP system reconciles the uploaded check issuance files against the presentment files and produces an exception file that is made available to corporate customers to make decisions on whether they want to pay them or not. "What makes iLINK Positive Pay different from other solutions," explains Ed Hansch, Vice President of Product Development at BANKLINK, "is that it is designed to work with any ARP system and any format of customer's check issuance files." iLINK Positive Pay can easily be integrated into BANKLINK's iLINK cash management solution, a powerful, flexible and valuable product targeting the needs of middle-market (companies with revenues above $10 million) and large corporations. iLINK Positive Pay can be bundled with other iLINK products such as ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to Origination, Cash Concentration, Information Reporting and Wire Transfer as the financial institution wishes. iLINK offers full branding capabilities, including a home page customized with the institution's own messages, product name and logo, colors, and more. Email capabilities allow the institution to target customers individually or in groups based on distribution lists the institution creates. Value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. , such as customer service and marketing support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , allow businesses to concentrate on their core functions. iLINK products are currently marketed by a prestigious list of financial institutions including 1st Mariner Mariner Any of a series of unmanned U.S. space probes sent near Venus, Mars, and Mercury. Mariners 2 (1962) and 5 (1967) passed Venus within 22,000 mi (35,000 km) and 2,500 mi (4,000 km), respectively, and made measurements of temperature and atmospheric density. Bank of Baltimore For other banks with similar name see: Bank of Baltimore (disambiguation) The Bank of Baltimore was chartered in 1795 with $1,200,000 capital in the city of Baltimore, Maryland. , Capital City Bank of Tallahassee, and United Bank of Parkersburg, WV. More information on BANKLINK BANKLINK, on the Web at www.BANKLINK.com, leads with customer-focused treasury management solutions through experience and vision. Established in 1977 as a full-service electronic banking company, today BANKLINK provides product and service solutions to over 130 financial institutions worldwide to meet the needs of 20,000 treasury management customers. The BANKLINK portfolio of information reporting and transaction initiation services features bizLINK(TM), iLINK(TM), the exchangeLINK(SM )suite of account aggregation Account aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. and sweep services, BANKLINK SERIES 2000(TM) and BANKLINK MoneyWorks(TM). BANKLINK is located in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York and is a unit of Fiserv. Fiserv, Inc. (Nasdaq: FISV) provides industry leading information management systems and services to the financial industry, including transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. , business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in and software and systems solutions. The company serves more than 13,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin
Brookfield is a city in Waukesha County, Wisconsin, United States. The population was 38,649 at the 2000 census, but the city's population recently exceeded 40,000 people. , Fiserv reported $2.3 billion in processing and services revenues for 2002. Fiserv can be found on the Internet at www.fiserv.com. |
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