Software offers web-based payment monitoring.May 20, 2008 -
CheckFree PaymentView(TM) provides dashboard view across existing check, cash, wire, Automated Clearing House, and credit and debit card activities. It features centralized end-to-end check monitoring including source capture monitoring,
and real-time business process monitoring for comprehensive compliance and risk management. Other features include real-time alerts about operational events that have potential to result in losses, and reporting and analytics functionality.
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
Original Press release
FISERV, Inc.
255 Fiserv Dr.
Brookfield, WI, 53045
USA
Fiserv Introduces CheckFree PaymentView(TM) to Address the Challenges of Payments Monitoring and Reporting Across All Payment Types
End-to-end check monitoring and business process monitoring reduce cost and remediate potential risk
Brookfield, Wis., May 15, 2008 - Fiserv, Inc., a leading provider of information technology services to the financial and insurance industries, today announced the release of its CheckFree PaymentView(TM) solution, a comprehensive, web-based payments monitoring system with a dashboard view across existing check, cash, wire, Automated Clearing House (ACH), credit and debit card activities. PaymentView gives banks of any size and their corporate treasury clients real-time risk management capabilities along with multiple operational cost-savings and fee income opportunities.
"PaymentView is an exciting solution using interactive Web 2.0 technology and is designed to offer our bank clients and their corporate customers an intuitive, personalized offering for operational and payment risk monitoring across all payment types," said Sam Robb, vice president, global payment solutions, CheckFree, now part of Fiserv. "The business case for PaymentView is being justified by our customers who are reporting new corporate revenue opportunities through increased retention and share-of-wallet with their target customers. They are also reporting significant projected reductions in customer service and exception processing costs."
The PaymentView solution leverages existing bank technology investments and features a series of key modules, including:
o Centralized end-to-end check monitoring, including source capture monitoring
o Real-time business process monitoring for more comprehensive compliance and risk management
o Real-time alerts about operational events that have the potential to result in losses
o Robust reporting and analytics functionality providing banks new treasury services revenue opportunities through corporate payments trending, historical performance and forecasting
According to a survey of U.S.-based corporate treasurers, conducted by The Marketing Workshop, Inc. in September 2007, 44 percent of respondents said gathering and compiling information across multiple payment systems was difficult within their organizations. The research also revealed that business customers have a lack of visibility into payment status to determine cash position and would value more data for liquidity, cost and risk management analysis. Additionally, respondents agreed that there is limited tracking of internal/external compliance activity and few proactive alerts in place to warn about issues that have the potential to result in losses. The CheckFree PaymentView(TM) solution is meant to address these issues.
"Many banks are working toward achieving a consolidated view across their payments operations and technology silos to improve efficiencies both internally and for their corporate clients," said Susan Feinberg, research director for Wholesale Banking at TowerGroup. "Large and small banks alike are exploring an enterprise payments strategy and applying a more holistic approach to their payment architecture. By doing so, they can offer greater visibility of business processes to their corporate customers while improving their ability to manage risk across payment channels and payment methods."
By design, the CheckFree PaymentView solution accesses and integrates information from various payment systems and delivers relevant information to the desktops of authorized employees throughout the organization. This solution includes dashboards, standard and user-defined summary information reports, detailed data about processing and tracking payment status, risk exposure, out-of-compliance situations and key performance indicators. It also delivers subscription-based, real-time alerts to operators and managers concerning operational events requiring attention such as process bottlenecks.
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.
Fiserv Corporate Contact:
Lori Stafford
Assistant Vice President Corp. External Comm.
Fiserv, Inc.
262-879-5130
Lori.stafford@fiserv.com
For more information contact:
Julie Keaton
Public Relations Manager
Fiserv Financial Institutions Group
678-375-3744
julie.keaton@fiserv.com
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