Fiserv CBS Worldwide, a business unit of Fiserv (NASDAQ: FISV), a leading provider of information technology services to the financial industry, today announced the availability of industry leading ACH processing with PEP+ Platinum to clients of the Fiserv CBS core processing solution.
This offering from CheckFree, now part of Fiserv, is used by top U.S. financial institutions allowing them to take advantage of opportunities in the growing commercial banking sector.
"The integration of PEP+ Platinum into our core banking solution is a perfect fit for the increasing number of large institutions and commercially focused banks who are looking to exploit the massive growth in ACH processing," said Tony Catalfano, president, Fiserv CBS Worldwide.
"This solution adds to our stable of best-of-breed banking solutions and fits well with the existing comprehensive ACH features of our core system. This integration enables us to continue to provide our clients with solutions that support their growth initiatives and generate a positive return on their investment."
PEP+ Platinum is the ACH solution of choice for financial institutions with a strategic focus on driving growth through ACH and is utilized by nearly four out of five top 50 ACH originators in the United States. It also is used to process more than two-thirds of the nation's 18 billion ACH payments and is capable of processing up to one million transactions per hour with no volume constraints.
The PEP+ Platinum solution is offered as an ASP offering, leveraging Fiserv's vast outsourcing services. Recognized as the industry-standard, PEP+ Platinum provides an online, real-time solution for quickly and efficiently originating and receiving payments though the ACH network - improving operational effectiveness and decreasing costs.
"Industry data shows that ACH volumes are increasing dramatically and it is imperative financial institutions deploy a solution that will enable them to originate and receive payments faster while reducing operating costs and mitigating risk," said Catalfano. "PEP+ Platinum enables financial institutions and their commercial clients to grow in step with the ever changing electronic payment processing landscape."