Bay Governmental Selects AFTECH Core Processing, Internet Services.Business Editors MALVERN, Pa.--(BUSINESS WIRE)--Jan. 15, 2004 Bay Governmental Credit Union, a $51 million Michigan credit union with almost 8,000 members, became AFTECH's newest technology partner in early December with the signing of an agreement for AFTECH core processing software and Internet services. AFTECH is a unit of Fiserv, Inc. (Nasdaq: FISV FISV Fiserv, Inc (stock symbol) ). The credit union, which recently changed to a community charter and will undergo a name change in the near future, chose AFTECH over several core processing vendors, 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. AFTECH President Joseph A. Antellocy. "We are delighted to make Bay Governmental the second addition to our upper Midwest The Upper Midwest is a region of the United States with no universally agreed-upon boundary, but it almost always lies within the US Census Bureau's definition of the Midwest and includes the states of Minnesota and Wisconsin, as well as at least the Upper Peninsula of Michigan. Client base this year," AFTECH President Joseph A. Antellocy said. "We are especially grateful to our other clients in this area who pitched in to help us show the system's benefits to Bay Governmental." In addition to the expanded Advantage standard software package, Bay Governmental opted for AFTECH's general ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. package, with cost accounting, fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → and accounts payable modules; audio response; and Net Credit Report, AFTECH's innovative Internet-based credit reporting product. Bay Governmental is also introducing a new member service: Internet-based 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. , using AFTECH's best-of-breed aftech@net product, Antellocy noted. "Ours is a referral-based business; good references from existing clients are essential to our success," he said. "When our clients go beyond that, when they take an active role in helping AFTECH grow, it is a sign that we have developed a true partnership with them." Antellocy added, "I'm pleased to welcome Bay Governmental CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Tim Benecke, his management team, and the credit union board and staff to our technology partnership." AFTECH, a unit of Fiserv, Inc., is a premier supplier of core processing software and related services to credit unions nationwide. Fiserv, Inc. (Nasdaq: FISV) provides industry leading information management systems and services to the financial industry, including transaction processing, 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 14,000 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, Fiserv reported $2.3 billion in processing and services revenues for 2002. Fiserv can be found on the Internet at www.fiserv.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion