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Fiserv EFT Becomes First Third-Party Processor To Certify to CUSC Next Generation Network.


BROOKFIELD, Wis. -- Fiserv EFT, a unit of Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ), said today it has become the first - and only - third-party processor to be certified by Credit Union Service Corporation (CUSC CUSC Carrier Universal Service Charge
CUSC Credit Union Service Corporation
) for access to the Next Generation Network (NGN (Next Generation Networks) An umbrella term for mixed voice and data networks running over the IP protocol. See IP Multimedia Subsystem. ) switch.

The NGN, designed by CUSC specifically for credit unions, is a state-of-the-art technology platform providing robust custom functionality, fraud prevention and connectivity capabilities. The certification connects the 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.
 capability of Fiserv EFT with CUSC's more than 1,400 shared branch network service center and outlet locations throughout 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. .

"Our relationship with CUSC is a tremendous benefit to credit unions across the country," said Tony Catalfano, 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 Fiserv EFT. "Our connection to the NGN ensures our credit union clients can take advantage of industry-leading processing capabilities and shared branching products while realizing the tangible benefits of enhanced service and nationwide service reach."

Fiserv is the largest provider of core processing services to the credit union community and the certification enables Fiserv to extend its coast-to-coast role as a processor for shared branching services. Fiserv EFT currently provides shared branching services to more than 250 clients and processes approximately 1.2 million shared branch transactions per month as part of an existing co-switch agreement with CUSC.

"Fiserv EFT is a prime enabler in helping CUSC achieve its vision of connecting credit unions around the world to their members," said Carroll Beach, president and 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.  of CUSC. "Through the NGN, credit unions will have access to fraud resistance capabilities, communication enhancements and enriched member account management capabilities. We are very pleased to have Fiserv as our first Next Generation Network partner."

Credit Union Service Corporation (CUSC) is the credit union movement's largest shared branching network, representing 55% of all national locations and 68% of credit unions participating in shared branching. CUSC is the only shared branching network representing credit unions, leagues, credit union service organizations (CUSOs), the Credit Union National Association (CUNA Cuna

Chibchan-speaking Indian people who once occupied the central region of what is now Panama and the neighbouring San Blas Islands and who still survive in marginal areas. In the 16th century they lived in federated villages under chiefs who wielded considerable power.
) and CUNA Mutual.

Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial and health benefits industries, 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 16,500 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 $3.4 billion in processing and services revenues for 2004. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Mar 9, 2005
Words:447
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