Mexico's Banco Ahorro Famsa live with Fiserv's banking technology

Source: Fiserv CBS Worldwide

Fiserv CBS Worldwide, a business unit of Fiserv, Inc. (NASDAQ: FISV), announced today it is providing banking core, treasury, anti-money laundering and risk management solutions to Banco Ahorro Famsa, Institución de Banca Múltiple, the new banking unit of one of Mexico's largest furniture and appliance dealers, Grupo Famsa S.A. de C.V. headquartered in Monterrey, Mexico.

Banco Ahorro Famsa opened its first seven bank branches in January 2007 in the city of Torreón, located in the northern state of Coahuila in Mexico, with more on the way throughout Mexico.

In August 2006, Banco Ahorro Famsa received authorization from the Secretaría de Hacienda y Crédito Público of Mexico (SHCP) to conduct banking operations with the general public. The bank successfully completed the final certification process conducted by the supervisory government agency Comisión Nacional Bancaria y de Valores (CNBV) in early January 2007 and was authorized to initiate operations.

The bank's processes and procedures, as well as all Fiserv solutions, were certified as regulatory compliant, including core banking, treasury, anti-money laundering and risk management. Also certified were all the points of integration with the Mexican regulatory agencies, local ATM/POS switches, credit and debit card operations and the document clearing center.

Banco Ahorro Famsa initiated its operations offering a variety of savings, investment and loan products. The bank plans to be open seven days a week, 365 days a year from 9:00 AM until 9:00 PM.

Banco Ahorro Famsa's chief executive officer Francisco Patiño said, "An aggressive plan is in place to complete the roll-out of bank branches in more than 300 of Grupo Famsa S.A. de C.V. stores in Mexico by year end. Our objective is to open each branch offering excellent service and providing a natural integration between our banking and commercial day-to-day operations. Our focus is to provide personal service to each of our clients and make their banking experience the best possible."

Dan Alf, managing director of Latin America, Canada and the Caribbean, for Fiserv CBS Worldwide, said, "We congratulate Banco Ahorro Famsa and the entire team that made this project a success. Fiserv is committed to continuing to support the bank in its expansion plans and in its objectives to provide the best banking service to its clients. Fiserv ICBS, our international comprehensive banking solution, has scalability and functionality that will provide powerful support for Banco Ahorro Famsa throughout their growth."

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