Check 21--Check Processing of the Future Starts Today.Fiserv Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Representatives Available to Discuss the "Realities" of Banking in New Banking Environment
WHAT: Check 21--formally known as the Check Clearing for the 21st
Century Act--becomes effective today. Check 21 allows banks to
accept electronic images of checks (or substitute checks) as
proof of payment instead of traditional paper checks.
The implementation of this federal act marks a critical shift
in the banking industry. Check 21 will make it possible for
banks to become more efficient and more secure while
processing checks, and essentially allow banks to pass on
those efficiencies and eventual cost savings to their
customers. Now that check processing is entering the 21st
Century, banks, financial services companies, businesses and
consumers alike are impacted in several ways.
Expert resources from Fiserv Inc.--the nation's largest
third-party processor of checks--are available to discuss
Check 21. They can answer questions such as:
-- Why was Check 21 enacted?
-- What effect will Check 21 have on consumers, businesses
and banks?
-- What if consumers and businesses don't want their checks
imaged?
-- What efficiencies will be realized as a result of Check
21?
-- Are there any additional changes that will occur in
banking now that Check 21 is effective?
WHO: Mark Damico, President, Fiserv Item Processing Group
Steve Ward, Executive Vice President, Fiserv Item Processing
Group
Ted Umhoefer, Senior Vice President, Fiserv Item Processing
Group
WHEN: Mark Damico, Steve Ward or Ted Umhoefer are available for
interviews, show segments or panel discussions to address this
new federal law. To schedule with them, please contact Chuck
Doherty, (262) 879-5966, Chuck.Doherty@Fiserv.com; or Melissa
Quinn, (952) 851-7242, mquinn@tunheim.com
Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ) provides 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. , 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 15,000 clients, including banks, broker-dealers, credit unions, financial planners Financial Planner A qualified investment professional who assists individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve these goals. and investment advisers, insurance companies and agents, self-funded 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 $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the at www.fiserv.com. |
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