BANKLINK Introduces Bill Payment Solution Developed Specifically for Financial Institutions' Business Customers.Business Editors NEW YORK--(BUSINESS WIRE)--June 16, 2003 New product will reward financial institutions with higher retention & increased revenue 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 solution that financial institutions can use to gain more revenue from their business customers. bizLINK(TM) Bill Pay is an easy-to-use, integrated product that offers customers the convenience of online bill payment tailored to meet their business requirements, including innovative features to simplify the accounts payable process. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Paul Frank Paul Frank (born Paul Frank Sunich, August 29, 1967) is an artist and fashion designer. Paul's creations adorn clothing and other products. Julius the Monkey is one of Paul Frank's best-known characters. , BANKLINK's President, this means no more checkbook, as bizLINK Bill Pay quickly and conveniently pays any vendor, leaving more time to dedicate to revenue-producing tasks. "bizLINK Bill Pay covers the full life cycle of electronic billing Electronic billing is the electronic delivery and presentation of financial statements, bills, invoices, and related information sent by a company to its customers. Electronic billing is also referred to as the following:
bizLINK Bill Pay offers the features that most small businesses want, according to Hansch. These include Electronic Billing and Payment, Extended Remittance, Export to Accounting Software, Payment Approval Workflow, and Online Customer Care. "Business customers will no longer have to settle for a product designed for retail customers," said Hansch. "The entire product is designed around a business payment model, so that, for example, remittance information can be added to payments. In addition, payments can be made from multiple business accounts, and submitted payments can be set up to require an "approver" to ensure financial integrity." bizLINK Bill Pay is available as an add-on that can be easily integrated into BANKLINK's bizLINK(TM) or bizLINK Plus(TM) cash management solutions for small business. The bizLINK solution set is a robust, tightly integrated product initially targeting the needs of small businesses ranging from revenues of $500,000 to companies with more than 100 employees and revenues up to $10 million. bizLINK brings to the forefront features that small businesses have been asking for: internal transfer capabilities, loan reporting and payments, electronic bill payment, check management, exporting to personal finance management tools such as Quicken(R) and QuickBooks(R), online balance reporting, and stop payments, among others. "When a small business needs to migrate to more sophisticated payment capabilities, bizLINK Plus, which includes 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 and wire transfers, is the natural progression," Hansch said. As a company grows, it not only has the ability to migrate between bizLINK and bizLINK Plus, but as payment needs continue to increase, it can upgrade to iLINK(TM), BANKLINK's corporate line, which includes cash concentration and Bill Pay and ACH Origination features of its own. The bank can utilize the same inbound and outbound files for iLINK, allowing rapid deployment and minimizing IT internal resources 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 small businesses to concentrate on their core functions. 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, 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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