Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial and insurance industries, today announced its Source Capture Optimization approach to offer financial institutions the ability to enhance functionality of all sources of deposit gathering. This includes branch, teller, ATM, merchant, regional and consumer capture solutions.
Through this approach, Fiserv will offer clients the opportunity to leverage an integrated source capture platform that combines CheckFree thin-client technology --a web-based application in which software is not loaded on the client's computers -- with existing Fiserv image capture solutions to enable consistent functionality for all deployment models including in-house, outsourced and ASP.
"As part of the integration of CheckFree we have enhanced our ability to bring leading solutions to the market by leveraging the resources of our entire organization," said Jeffery Yabuki, President and Chief Executive Officer, Fiserv, Inc. "Source Capture Optimization is our approach to delivering our expertise - both technology and intellectual property- which integrates all sources of deposit capture."
As the convergence of deposits from a wide range of sources continues to be a trend, the Fiserv Source Capture Optimization approach will offer significant value to financial institutions that may be dealing with a number of disparate capture solutions or changing check volume demands. This approach will provide financial institutions with best-in-class functionality, including consistent image quality, fraud protection, courtesy amount recognition (CAR), legal amount recognition (LAR), remittance processing and ACH conversion features. Fiserv will work diligently with each individual client to protect current investments by ensuring that all implementation plans are tailored to the client's needs.
"Banks today are taking deposits from a multitude of sources," said Christine Barry, research director, Aite Group. "Providing a universal platform would allow those sources to integrate seamlessly, creating a simplified, one-stop shop for capture while lowering the total cost of ownership."
Fiserv CBS, Fiserv Credit Unions, Fiserv ITI, Fiserv VISION, BANKLINK, and Fiserv Item Processing solutions will all integrate with the CheckFree solution so all Fiserv clients will be ablee to take full advantage of this increased value within their current environments.
"More than 1,100 banks already rely on Fiserv for our expertise in deposit capture," added Yabuki. "We will continue our relentless focus on delivering increasing levels of value, opportunity and growth for our more than 18,000 clients across Fiserv."