Fiserv upgrades transaction management and reconciliation systems

Source: Fiserv

Fiserv (NASDAQ: FISV), a leading provider of information technology services to the financial industry, today launched new versions of their transaction management and reconciliation solutions, CheckFree Frontier and CheckFree Frontier Securities.

The new versions of CheckFree Frontier and CheckFree Frontier Securities are focused on driving increased efficiency and ensuring ease of use, while helping organizations to better manage risk by highlighting exceptions in the transaction management and reconciliation process, and using configurable risk tolerances to guide users to items or accounts that require immediate attention.

"In today's challenging business environment, our customers are demanding the ability to further enhance profitability while improving the efficiency and transparency of their financial control frameworks," said Elizabeth Elkins, general manager, Operational Risk Management, Fiserv. "The latest version of CheckFree Frontier has been developed with an unprecedented level of client feedback and interaction in the product design. The solution increases productivity by allowing users to instantly access the areas requiring immediate review and resolution. Exceptions are categorized and automated transaction management capabilities ensure items with the most risk are identified and resolved quickly and efficiently."

Introducing new capabilities, the latest versions of CheckFree Frontier offer:

  • Enterprise-wide, real-time graphical view with full transactional drill down capabilities.
  • Enhanced exception categorization based on exception type and level of risk, enabling users to summarize outstanding/exception items by asset class/type or any other criteria.
  • Personalized graphical summaries and charting enable users to interpret their own data/exception items each time they access the solution.
  • User driven 'shortcuts' or bookmarks provide users immediate access to their most important information and common tasks.

"These capabilities, together with a next generation web interface, easy-to-configure risk tolerances, processing rules and a highly intuitive end-user presentation, provide customers with a simple, personalized way to isolate and act on high-risk transactions and anomalies in the reconciliation process," said Brad Foohey, senior product manager, Operational Risk Management, Fiserv. "Our customers have an ever growing need to mitigate risk and increase efficiency as transactions and accounts are processed across the balance sheet. The new features of our system are designed to help customers achieve greater agility in response to a changing business and regulatory environment."

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