Coastal Federal Bank Signs with Fiserv EFT; Five-Year Agreement for ATM Device Driving and Debit Processing Services.BROOKFIELD, Wis. -- Coastal Federal Bank, a unit of Coastal Financial Corp., and Fiserv EFT, a unit of Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ), have signed a five-year agreement for ATM device driving and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. processing services. "Fiserv EFT's ability to integrate with our core processing solution provides Coastal with efficiencies and processing advantages that we could not ignore," said Jimmy Graham, executive vice president and chief operations officer of Coastal Federal. "Our new contract with Fiserv EFT builds on our existing relationship with Fiserv VISION, our core account service provider. By adding Fiserv EFT, we've streamlined our operations and cost structure, while enhancing the service levels we deliver to our clients." "Coastal Federal Bank's unrelenting commitment to embracing change and implementing constant improvement for the benefit of its customers leads them to Fiserv," said Kevin Gregoire, Fiserv EFT executive vice president. "A total Fiserv solution, including our ATM and debit services, gives Coastal a customer-centered, one-stop financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. solution." Coastal Financial Corporation, headquartered in Myrtle Beach, S.C., offers a broad range of commercial, consumer and mortgage financial services through two subsidiaries, Coastal Federal Bank and Coastal Retirement, Estate and Tax Planners, Inc. Coastal Federal, with $1.58 billion in consolidated assets, is a federally chartered and FDIC-insured community bank with 21 offices serving the communities of Horry and Georgetown Counties, S.C., and Brunswick and New Hanover New Hanover or Lavongai (lävông`ī), volcanic island, c.460 sq mi (1,190 sq km), in the Bismarck Archipelago, part of Papua New Guinea. New Hanover is mountainous and densely forested. Counties, N.C. Coastal Retirement, Estate and Tax Planners offers professional, objective, fee-based financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against services. Additional information about Coastal Federal is available on its web site at www.coastalfederal.com. Fiserv EFT provides ATM and debit services to more than 2,700 financial institutions across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The business unit operates more than 17,000 ATMs and owns the ACCEL/Exchange Network. Fiserv EFT currently processes approximately 435 million ATM and debit transactions per month, making it one of the largest electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. processors in the nation. Fiserv, Inc. (Nasdaq:FISV) is a provider of information management systems and services to the financial and health benefits industries, 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 17,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $4.1 billion in total revenues for 2005. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 and 2005 FinTech 100 surveys by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com. |
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