Business Bank of Nevada Selects Fiserv as Its New Information Services Provider Company.Business Editors LAS VEGAS--(BUSINESS WIRE)--April 18, 2002 Business Bank of Nevada (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BBNV BBNV Business Bank of Nevada ) today announced that it has selected Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ), a leading information services See Information Systems. provider for the financial industry worldwide, to be the Bank's new data processing company. After a lengthy search and due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. process with several information services provider companies nationwide, the Bank chose Fiserv to handle its day-to-day account and item processing, proof capture, imaging technology and more. According to Larry Charlton, executive vice president and chief financial/operations officer for Business Bank, this new vendor relationship with Fiserv will help the Bank process more information as the Bank grows and expands both its customer base and branch network. "The fact that Fiserv also owns Information Technology, Inc., a computer software company the Bank was using with a previous vendor, was one of several other reasons why we decided to switch service bureau companies. Fiserv is a great fit for our company, and we look forward to developing a strong partnership with them as one of the premier information services provider companies in the country." Fiserv currently services more than 240 million customer deposit, loan and lease accounts, which are processed annually at financial institutions around the world. The company's financial institution client base includes banks, credit unions, leasing companies, mortgage lenders and savings institutions. Fiserv is also one of the nation's largest non-bank processors of checks, automated teller machine automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATM) and point of sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) transactions. Last year, Fiserv processed 4.9 billion checks and nearly 850 million electronic ATM/POS transactions. "We are excited to have Business Bank as one of the newest members of the Fiserv family of clients," said Norm Balthasar, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the Fiserv Financial Institution Group. "We strive to meet and exceed the needs of our clients, whether they're looking for a data processing provider or wish to expand into new industries and new markets. We look forward to providing Business Bank with some of the tools and resources they need to further establish themselves as one of the premier financial institutions in Nevada." In addition to transaction processing services, Fiserv also handles insurance services, securities processing services and trust services for insurance companies, broker-dealers and investment advisors, as well as third party pension administrators and individual investors. "As our relationship with Fiserv grows and expands, our needs will become larger and require some of the more sophisticated resources Fiserv can bring to the table," Charlton said. "We are working rapidly with Fiserv to have all images of items processed available to our customers via the Internet. Statement images can be quickly brought into use as well, if we choose to go in that direction. Business Bank currently has imaging technology available internally for all processed items." About Fiserv Fiserv, Inc. (Nasdaq:FISV) is an independent, full-service provider of integrated data processing Noun 1. integrated data processing - automatic data processing in which data acquisition and other stages or processing are integrated into a coherent system IDP automatic data processing, ADP - data processing by a computer and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 13,000 financial service providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, mortgage banks and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv also can be found on the Internet at www.fiserv.com. About Business Bank Business Bank, with over $202 million in total assets as of March 31, 2002, is in its seventh year of operation and is one of the fastest-growing independent banks in Nevada. The Bank has four branch offices in the state, with three in the Las Vegas area and one in Carson City. Business Bank is FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). Insured and is a member of the Federal Reserve Bank of San Francisco The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, . Its stock is listed on the Over The Counter Bulletin Board (OTCBB) at ticker symbol BBNV. Additional information about Business Bank is available at www.bbnv.com. Forward-Looking Statement This release contains forward-looking statements relating to results of operations, product features and benefits, market penetration and market strategies. Such statements are made based on management's beliefs as well as assumptions made by and information currently available to management, pursuant to "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. While these statements reflect our best judgement, they are subject to risks and uncertainties that could cause a change in focus and direction. |
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