Transaction Processing Systems
Module offers check and electronic payment resolution.
Press Release Summary:
Image-based workflow system, CheckFree adjustments/Express(TM) (A/E), automates back-office case management processes for ACH disputes and electronic payments. By developing operator control, module enables users to manage evolving payment compliance with regulatory and network guidelines. Financial institutions can access item data and images for prompt case resolution.
Original Press Release:
Fiserv Extends CheckFree Adjustments/Express(TM) to Allow Banks to Process ACH Disputes Faster and Easier
New module offers check and electronic payment disputes processing in a single solution
Brookfield, Wis., February 6, 2008 - BAI Transpay Booth #517 - CheckFree, now part of Fiserv Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, in its ongoing effort to assist customers with their converging payments needs, introduced the newest version of CheckFree adjustments/Express(TM) (A/E), its image-based, workflow enabled system that automates back-office case management processes. Adjustments/Express, in addition to processing check adjustments faster and easier, now allows banks to do the same for their ACH disputes.
This new capability has the potential to enable banks to dramatically improve operational efficiencies for their ACH disputes by automating processes, improving operator control, increasing productivity, and improving customer service. A/E for electronic payment adjustments uses rules-based case processing, prioritization and reporting to enable users and department management to appropriately work cases and manage compliance with regulatory and network guidelines. This automation of back-office case management processes helps manage an evolving payments environment, eliminates paper handling and improves customer service. Banks will experience quick
access to item data and images, reducing operators' dependence on paper or reports, and empowering them to resolve cases more quickly.
"CheckFree's new ACH offerings with Adjustments/Express supports financial institutions' payments convergence strategy by providing check and electronic payment disputes within a single solution while leveraging its proven operator efficiency benefits and reduced processing requirements," said Mike Ringuette, executive vice president,Fiserv Global Payments. "Our A/E customers are already seeing remarkable results including full-time equivalent (FTE) savings greater than 30 percent, closed cases improvements of more than 10 percent, and average productivity increases of 90 percent. Our customers can now realize similar outstanding benefits for their ACH
For more information about CheckFree's solutions, visit www.checkfreesoftware.com.
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 serves more than 21,000 clients worldwide and 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 and CheckFree had more than $4.5 billion in combined pro forma total revenue for 2006. For more information, please visit www.fiserv.com.
Fiserv Corporate Contact
Assistant Vice President, External Comm.
Public Relations Manager
CheckFree Corporation, now part of Fiserv, Inc.