Fiserv and NetDeposit Pursuing Agreement on Check 21-Related Solutions.Business Editors BROOKFIELD, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--May 17, 2004 Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ) and NetDeposit, Inc. are pursuing an agreement that will give each company access to the other's Check 21-related solutions. Fiserv, the nation's largest third-party check processor, is fine-tuning the development of capabilities to leverage the Oct. 28, 2004, implementation of Check 21 - a law designed to encourage innovation in check clearing. Fiserv will offer printing of substitute checks across its network of 50 image-based check-processing centers, and will act as a gateway for substitute check printing and image exchange to all of its 1,700 check-processing clients and to its more than 7,000 account processing clients. Fiserv will use software components from both NetDeposit and Fiserv's Imagesoft Technologies business unit to enable distributed substitute check production and image exchange as part of Fiserv's comprehensive service offering. In addition, the NetDeposit service offering will be enriched by products available from Fiserv and Imagesoft to authenticate (1) To verify (guarantee) the identity of a person or company. To ensure that the individual or organization is really who it says it is. See authentication and digital certificate. (2) To verify (guarantee) that data has not been altered. substitute checks, and to validate the quality of images used to create substitute checks and for exchange. These enhanced products also will be offered to other NetDeposit customers. Fiserv and NetDeposit expect to finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... the agreement in the second quarter. "With proven capabilities in generating substitute checks and in developing technologies for image exchange, solutions from NetDeposit and Imagesoft will enable us to offer proven, leading-edge Check 21 and image exchange capabilities to clients throughout the 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. industry," said Mark Damico, President of the Fiserv Item Processing Group. "We see these as important relationships for strengthening each company's ability to provide clients with unparalleled offerings of check processing solutions." "We believe the combination of Fiserv's innovative solutions and nationwide check processing services - together with our technology to power distributed substitute check production and image exchange - will deliver tremendous value to the industry; and will ultimately accelerate electronic check processing by enabling access to thousands of financial institutions," said Danne Buchanan, Chief Executive Officer of NetDeposit. Established in 2001, NetDeposit, Inc. is a leading innovator of payment products and services for end-to-end electronic check processing and optimized clearing and settlement. Headquartered in Salt Lake City, NetDeposit has teamed with industry leaders such as The Clearing House, Wausau, Checkfree Corporation and US Dataworks to provide a gateway to all major check clearing channels now, and in the future. Through its patent pending technology, products and services, NetDeposit helps financial institutions, commercial businesses and payment processors greatly enhance their funds availability, reduce costs and risk, and eliminate the inefficiencies of manual check processing. Net Deposit is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Zions Bancorporation Zions Bancorporation (NASDAQ: ZION) is a member of the S&P 500, a bank holding company headquartered Salt Lake City, Utah. Its star subsidiary is NSB Public Finance. (Nasdaq:ZION). More information on NetDeposit, Inc. can be found at www.net-deposit.com. As the nation's largest third-party check processor, Fiserv annually touches more than 4.2 billion checks. The company operates 50 check-processing centers across the U.S. and another six in Canada, and has a national image archive that adds nearly 7 million check images each day. Fiserv, Inc. (Nasdaq:FISV) provides industry leading 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. , outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. , 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 worldwide, including banks, broker-dealers, credit unions, financial planners/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 at www.fiserv.com. |
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