UPCOMING EVENTS
Fiserv Adds 116 Credit Union Clients for Card Services in 2009
02/23/2010
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Online, real-time debit and credit processing reduces fraud, improves member service; integration with Fiserv account processing systems maximizes efficiencies
Brookfield, Wis., February 23, 2010 − Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today that 116 credit unions selected its credit and debit card solutions in 2009. More than 1,500 credit unions and 3,100 financial institutions use Card Services from Fiserv to optimize card portfolio performance, maximize revenue, mitigate risk and reduce cost.
Of the 116 credit union clients signed, 87 chose Fiserv debit card solutions and 29 selected the company’s credit card processing solutions. Demand for robust debit solutions is especially high in the current economic climate, as credit unions seek ways to increase fee income while reducing administrative costs.
“The right card program can serve as a significant competitive advantage for credit unions –enabling them to increase fee income, improve profitability, reduce costs and enhance member loyalty,” said Scott Butler, president of Credit Union Solutions at Fiserv. “Credit unions are increasingly choosing our card services to achieve vital business goals like these, leveraging our full suite of debit, credit and ATM card offerings.”
Card Services from Fiserv integrate seamlessly with many of the company’s account processing solutions, delivering a strong benefit for credit unions. Tight integration between the systems reduces back-office administration to save credit unions time and money. Integration also enables online, real-time transaction processing, which reduces fraud and provides added convenience to members.
International Harvester Employee Credit Union of Springfield, Ohio relies on Card Services from Fiserv for card production, management and processing for its portfolio of 8,000 debit and credit cards.
“The ability to process our cards online in real time is a great benefit for our members and for the credit union,” said Sean Doane, vice president of information systems at the $190 million credit union. “Members love that they have a more accurate view of their accounts and the credit union is pleased that we’ve reduced our exposure to fraud significantly. It’s also faster and easier to research member questions and make changes to their card accounts.” In addition, integration between the Card Services delivered by Fiserv and the credit union’s Portico account processing solution from Fiserv creates a faster, more streamlined process for card opening and maintenance, according to Doane.
Card Services from Fiserv include card production, management, processing, authorization, settlement and reporting, as well as a full range of risk management and fraud prevention tools and ATM driving and support. Fiserv also owns and operates ACCEL/Exchange®, a leading debit payments network, and offers the flexible UChoose Rewardssm program designed to increase card activity and grow revenue.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrated its 25th year in 2009. For more information, visit www.fiserv.com.
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