IntegraSys Launches Innovative, Full-Service Business Banking Solution for Credit Unions.PLANO, Texas Plano (IPA: /ˈpleɪnoʊ/) is a wealthy suburb of Dallas, Texas, located to the north, mainly within Collin County, but also extending into Denton County. According to the 2000 U.S. -- Turnkey Solution Creates Small Business Banking Portfolio Overnight; Provides One-stop Source for Members, New Revenue Opportunity for Credit Unions IntegraSys, a unit of Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ), today announced that it has teamed with best-in-class providers to launch an innovative business banking solution for credit unions. Called Virtual Branch(R) Business Center, this comprehensive solution merges best-in-class services to provide credit unions a full suite of products and services tailored to meet the needs of the growing U.S. small-business owner population. Products and services from CDS Companies, a leader in accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying management and funding for U.S. small businesses, and PayMaxx, an Internet payroll pioneer, will be included in Virtual Branch Business Center. TowerGroup estimates that the small-business marketplace purchases approximately $200 billion in 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. each year, and research conducted by 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. Center for Research estimates that approximately 11 percent of all U.S. credit union members own a small business. "These statistics underscore the importance of serving the commercial sector for credit unions to compete and grow," said Dave Selina, SVP SVP S'il Vous Plaît (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul and general manager of Virtual Branch, XRoads and Industry Services for IntegraSys. "The entrepreneurship represented among small-business owners and the cooperative nature of credit unions creates a harmonious match - and Virtual Branch Business Center provides credit unions with a competitive differentiator in commercial business financial services, as well as a share of the revenue as members sign up." For credit unions, Virtual Branch Business Center can broaden product portfolios and add revenue opportunities by providing the tools needed to build small-business financial services expertise, without the need for additional staff or other significant expenditures. Business owners will have the convenience of affordable, one-stop financial services that cater to small businesses - most of which can be delivered virtually. A-K Valley Federal Credit Union (FCU FCU Federal Credit Union FCU Florida Credit Union FCU Fan Coil Unit FCU Fuel Control Unit FCU Flight Control Unit FCU Flexor Carpi Ulnaris FCU Familial Cold Urticaria FCU Fire Control Unit FCU Fused Connection Unit FCU Flow Control Unit ), a 9,000 member, $44 million credit union in Lower Burrell, Pennsylvania Lower Burrell is a city in Westmoreland County, Pennsylvania, United States. Located approximately 18 miles outside of Downtown Pittsburgh, Lower Burrell is part of the Pittsburgh Metro Area. The population was 12,608 at the 2000 census. , will be the first credit union to use Virtual Branch Business Center. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Janet Horn, 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 A-K Valley FCU, "Virtual Branch Business Center will put us on the cutting edge with our business members - it provides the whole package that puts us ahead of our competition." "We have many business accounts already, and after seeing Virtual Branch Business Center, we recognize the gaps it would close in the services we currently offer to our business members - especially accounts receivable lending, payroll services and equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
The most complete small-business banking services portfolio available While some financial institutions only provide checking, credit card and loan services for small businesses, Virtual Branch Business Center allows credit unions to provide other basic financial services that small businesses need, including online banking, bill payment and payroll services via PayMaxx. CDS will provide accounts receivable management, accounts receivable financing Accounts Receivable Financing A type of asset-financing arrangement in which a company uses its receivables - which is money owed by customers - as collateral in a financing agreement. The company receives an amount that is equal to a reduced value of the receivables pledged. , equipment leasing, private label credit programs, credit card and check merchant processing, and the option for the credit union to participate in loans. One of the more unique services is CDS' enterprise check cash flow optimization, which allows business owners to deposit checks onsite via their desktop computer, eliminating the need to deliver checks to the credit union. Once a small business owner signs up for Virtual Branch Business Center through their credit union, they will have access to experts in various areas, such as payroll services and credit programs, via representatives from PayMaxx and CDS Companies who will assist in delivering these personalized services to members. "As competition continues to intensify, offering affordable and complete business banking services can be a key differentiator for credit unions, and we'll continue to add features, such as travel services and office supply procurement, valuable to U.S. entrepreneurs," said Selina. Like all Virtual Branch products, Business Center provides a single sign-on An identification system that lets users log into multiple Web sites on the Internet with one username and password. Single sign-on systems are also used within an enterprise, enabling users to access all authorized resources in the local network using the same username and password. to a secure system, reflects the credit union's brand and marketing messages and provides access to secure forms and e-mail related to end users' banking needs. Virtual Branch Business Center can be a stand-alone or add-on capability to other Virtual Branch products and services. Credit unions pay a one-time installation fee and a small monthly charge for Web site maintenance and hosting for the product. About Virtual Branch Virtual Branch(R) is the IntegraSys suite of consumer electronic financial offerings that provides self-service access to financial services for U.S. credit union members. Services provided by Virtual Branch include funds management, bill payment and presentment and lending. Virtual Branch also provides credit unions the opportunity to aggregate Web-based financial services from multiple suppliers into a single Internet site, allowing them to increase Web site traffic and offer members additional services through secure links from the credit union site. Virtual Branch fully integrates with most credit union core processing systems on the market today. About IntegraSys Combining a new spirit of innovation with 30 years of industry experience, IntegraSys delivers a comprehensive range of well-integrated systems and services that accelerate credit unions' growth and drive business efficiencies. Whether clients require sophisticated service bureau or in-house technologies, IntegraSys delivers industry-leading technology to help credit unions compete and win in their markets. The IntegraSys suite of products and services includes core processing, loan origination, asset and liability management, ATM 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. services, Internet banking, lending, and bill payment and presentment services. For more information, visit www.integrasys.fiserv.com. Fiserv, Inc. (Nasdaq:FISV) provides industry leading information management systems and services to the financial industry, 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 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, 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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