Fiserv and Bank of America Connect Through Viewpointe for Electronic Check Image Exchange.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & BROOKFIELD, Wis. -- Fiserv, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :FISV FISV Fiserv, Inc (stock symbol) ), the nation's largest third-party check processor, announced today it is now exchanging checks with Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. (NYSE NYSE See: New York Stock Exchange :BAC BAC abbr. blood alcohol concentration ), through Viewpointe, the leading provider of check image exchange and archive services in the United States. The agreement enables Bank of America to connect to thousands of endpoints on the Fiserv Clearing Network (FCN FCN First Coast News (Florida) FCN Function FCN Federation of Canadian Naturists FCN Fox Cable Networks FCN Free Core Nutation FCN Federal Communicators Network FCN Fußball Club Nürnberg (Germany) ), while allowing other Fiserv customers to exchange images directly with Bank of America. "Fiserv has invested significantly in moving the industry toward full check electronification," said Tom Warsop, Fiserv group president for financial institutions. "By partnering with key industry players such as Viewpointe and Bank of America, and establishing the Fiserv Clearing Network, we can expand our image and clearing services between thousands of our bank clients and other large volume banks." Fiserv and Viewpointe worked together to develop technology and infrastructure that integrates Viewpointe's Pointe2Pointe(TM) solution, one of the most efficient and secure methods of check image exchange available today with the Fiserv Clearing Network, a fast-growing, cost efficient single source check clearing offering. "Partnering with critical aggregators like Fiserv not only expands Bank of America's industry leading check image clearing capability, but also dramatically broadens the image exchange landscape for the financial services industry," said John Feldman, image and electronic payment services Electronic Payment Services (Chinese: 易辦事), commonly known as EPS, is the largest electronic payment system in Hong Kong, Macau and Shenzhen starting from 1985. The service is provided by EPS Company (Hong Kong) Limited. executive at Bank of America. "Viewpointe is a key partner in our efforts to greatly improve our efficiencies and is committed to bringing exchange partners together for further industry interoperability." Viewpointe's Pointe2Pointe solution helps financial organizations take a strategic step toward dramatically reducing the financial and logistical burdens associated with processing paper-based checks, and is one of the most cost-effective methods to get started with electronic image exchange. Fiserv Clearing Network is growing quickly as clients realize the immediate benefits of reducing costs for clearing, couriers, adjustments and cash letter fees, while improving float. Adding Bank of America leverages Fiserv's aggregated volume across its hierarchy of all possible exchange endpoints, to achieve this industry leading solution. Viewpointe chief executive officer Lou Buglioli explained, "This electronic exchange relationship between two important financial technology providers, Fiserv and Viewpointe, and Bank of America is a win for all three and the industry as a whole. By combining massive image volumes and growing our reach to even more endpoints, we're continuously increasing the value of electronic image exchange exponentially." About Fiserv, Inc. Fiserv, Inc. (NASDAQ:FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include 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 (BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra ), software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.5 billion in total revenue for 2006. For more information, please visit www.fiserv.com. About Viewpointe Viewpointe is the leading provider of check image exchange and archive services in the United States. Dedicated to helping financial institutions get connected to all of the nation's endpoints, Viewpointe is moving the industry closer to full check electronification. Viewpointe's core services, Pointe2Pointe, ImageShare and Image Storage, are designed to streamline the check payments process and promote image exchange and sharing on a national scale. Backed by top tier institutions including Bank of America, JPMorgan Chase, SunTrust, U.S. Bank, Wells Fargo and IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Viewpointe is actively helping financial institutions to rapidly transform their paper intensive check payment operations into an electronic payments business. Founded in 2001, Viewpointe is headquartered in New York, with offices in New Jersey, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. and Texas. For more information, go to www.viewpointe.com. |
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