FIserv, Inc. announces acquisition of Imaging Technology Banking unit from Cincinnati Bell Information Systems Inc.

MILWAUKEE--(BUSINESS WIRE)--Dec. 5, 1994--FIserv, Inc. (NASDAQ:FISV) announced today that it has acquired the imaging technology banking unit from Cincinnati Bell Information Systems Inc. Based in Maitland, Fla., the CBIS banking unit is a leading provider of image and document management solutions to financial institutions and other industry-specific organizations, including those within the staffing support and insurance industries.

``With the addition of the CBIS banking unit to the FIserv network, we will gain a valuable organization that is on the forefront of providing high-quality, technologically advanced imaging systems and services,'' said George D. Dalton, Chairman and Chief Executive Officer of FIserv, Inc. ``The expert personnel in the CBIS banking group have successfully translated their technical expertise into designing efficient imaging software solutions and related integration services. This specialized application knowledge is an excellent fit to our current item processing business and our focus on high-volume, high-velocity imaging technology. We welcome the talents and resources of this quality organization to FIserv.''

The CBIS banking unit has developed a unique, integrated image and document management architecture that provides clients with business solutions for the acquisition, management, storage and presentation of check and document images.

The CBIS group applies this advanced imaging technology to a variety of industries. Within the financial industry, these applications provide image-enabling back office functionality, including the production of image checking account statements and the retrieval of imaged information to enhance customer service. Additional services for financial institutions include multiple image delivery mechanisms to assist cash management in delivering new products for control disbursements, positive pay, exception processing, account reconciliation and truncation.

Other industry-specific imaging services include applications to assist staffing support organizations with billing by storing, retrieving and printing images of time cards; and image-enabling the policy assembly process for insurance companies. The technology also can be applied to create an enterprise-wide information storage system, providing easy retrieval and updating of an organization's report data.

Organizations throughout the United States and Canada have implemented imaging technology solutions from the CBIS group, including First National Bank of Chicago, Shawmut Bank Connecticut, N.A., Wausau Financial Systems, Inc., Fourth Financial Corporation, Frost National Bank, Kelly Services, Inc. and leading insurance and government agencies.

``Cincinnati Bell Information Systems Inc. is a leader in the provision and management of billing solutions for the communications market,'' said James F. Orr, Chief Operating Officer of CBIS. ``Our largest and most developed market is in cellular billing services. Given the rapidly changing needs and growth opportunities in the global communications industry, our company has made a strategic decision to focus on this core market, and divest our businesses in other markets. Through our agreement with FIserv, we feel confident that our imaging technology group's employees and clients will gain a knowledgeable company dedicated to their future growth for which this business is strategic.''

FIserv has the nation's largest check processing client base, processing more than 1.75 billion checks annually. Through its major regional item and image processing sites, FIserv provides full proof of deposit services, inclearings capture, statement rendering including image statements, bulk file, lock box, item search, overdraft processing, qualified returns and return items, cash letter deposit, fine sorting, account reconciliation and adjustments.

FIserv, Inc. is an independent provider of financial data processing systems and related information management services and products to financial institutions worldwide. A publicly held company headquartered in Milwaukee, Wis., FIserv, Inc. is traded on the NASDAQ over-the-counter market under the symbol FISV.

CONTACT: FIserv, Inc., Milwaukee

              Tom Neill, 414/879-5021
              Image Integration Business Unit of FIserv, Inc.
              Ron Thompson, 407/661-8246