| Union Savings Bank Expands Fiserv Partnership by Adding Online Banking and Bill Payment Service |
Fiserv core banking customer cites integration with Corillian and CheckFree as key factor in decision BROOKFIELD, Wis.--(BUSINESS WIRE)--Nov. 12, 2008--Fiserv VISION, a business unit of Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, announced today that Union Savings Bank, a $1.7 billion bank headquartered in Danbury, Conn., launched an enhanced online banking service leveraging Corillian Consumer Advantage(TM) and CheckFree Web RXP(TM) from Fiserv's Internet Banking and Electronic Payments Division. Union Savings Bank, which has been a Fiserv VISION client for 12 years, recognized the value of offering a premium online banking and bill pay solution in a service bureau environment while taking advantage of Fiserv's real-time integration. Corillian was acquired by CheckFree in early 2007. Fiserv's subsequent acquisition of CheckFree later that year changed the landscape for many Fiserv clients, among them Union Savings Bank. "At first we thought Corillian and CheckFree were out of our league and more appropriate for a big bank with the ability to bring the system in-house. We were aware of them as industry leaders, having been ranked No. 1 by industry analysts," said Marie O'Neill, senior vice president of marketing and electronic banking, Union Savings Bank. "The decision became easier when Corillian and CheckFree became part of Fiserv. We were gaining two things; one, the industry's best online banking and bill payment platform and two, smoother integration with our Fiserv core banking solution, Cleartouch." O'Neill also noted, "We've got a more robust solution with added features. It gives us a better product to market to our customers. We can truly say this is a leading edge online banking product." Union Savings Bank wanted to enhance its online banking service with a system that could provide industry-leading online banking and bill pay services in a more tightly integrated, hosted environment. Having Corillian Consumer Advantage's online banking best practices in a hosted environment means Union Savings Bank gains the advantages of a sophisticated solution without the overhead costs and capital investments associated with running it themselves. According to Mike Rigney, president of Fiserv VISION, "The acquisition of CheckFree, including Corillian, allows Fiserv VISION to provide our clients with a leading online banking solution that is tightly integrated to our Cleartouch core solution, in a scalable, hosted environment. Our clients look to us to provide them with the tools they need to compete in their markets; Union Savings Bank is seeing firsthand the benefits of this acquisition." With a fully featured online banking and bill payment service, bank customers can find the same conveniences online as those offered by larger institutions, with the advantage of personal local customer relationships offered by Union Savings Bank. "We are seeing people leaving some of the larger banks because of what's going on in the economy. When they walk into our bank to open an account, they discover an online banking product that's very similar to what they were using. We are finding that customers are more comfortable in making the move to a community bank, not only because of the outstanding customer service we offer, but also because we have the same tools and services they would expect from a bigger bank," said Bill McNamara, senior vice president, Union Savings Bank. Established in 1866 and headquartered in Danbury, Conn., Union Savings Bank is a $1.7 billion mutual bank dedicated to providing excellent customer service to its customers and communities. As a full-service financial institution, Union Savings Bank provides banking, mortgage, investment and insurance with eighteen branches throughout western Connecticut. About Fiserv, Inc. Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company 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. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007. For more information, please visit www.fiserv.com. FISV-G
CONTACT: Fiserv VISION |
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| "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Fiserv, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year. |