Fiserv (NASDAQ:FISV), the leading global provider of financial services technology solutions, today introduced its innovative eMessaging Service.
The eMessaging Service enables billing organizations to communicate legal disclosures, regulatory updates and service-related information via e-mail directly to customers who have elected to go paperless and receive bills electronically. This gives the online consumer a truly paper-free experience and can deliver substantial cost savings to billing organizations. As a complement to eBill Distribution from Fiserv or Biller Direct HV from Fiserv, messages sent with the eMessaging Service allow the biller to add branding and personalization with individual names, hyperlinks, logos and graphics, and thus extend their brand to the e-bill experience as they maintain consistent communication with their consumers.
"An e-messaging service provides a value-added capability for billing organizations who want to cut costs and streamline delivery of required service notices, and makes sense for billing organizations," said Bruce Cundiff, director of payments research and consulting, Javelin Strategy and Research. "Using a customizable electronic service and account notification tool ensures billers they are extending the full value of the paperless relationship with their customer to maximize their cost savings."
Depending upon the industry, billing organizations may need to communicate service-related information, or may be required by government regulations or statutes to provide customers with certain account information, such as annual statements, rate changes, disclosures, updates to terms and conditions or privacy policies, account status, collection or disconnection notices, or service advisories.
"More than sixty-four million U.S. households have chosen to pay bills online - and many are converting to paperless billing. Because billing organizations typically send service or regulatory messages to their customers through traditional postal mail, they may not be achieving their paperless cost saving goals," said Michelle Flint, vice president an and general manager, Biller Solutions, Fiserv. "The eMessaging Service from Fiserv enables cost savings as we provide a secure way to deliver electronic messages and connect with customers at their preferred touch point - online. This also minimizes dependence on a consumer's physical address and personalizes the communication process."
The eMessaging Service benefits a broad spectrum of billing organizations, specifically credit card companies, utility and energy providers, telecommunication services, mortgage and lending companies, and insurance providers. The eMessaging Service uses the cost effective and efficient e-mail channel in which delivery can be easily tracked, unlike paper mail. As an example, one of Fiserv's current eMessaging Service customers is sending thousands of messages per month on average using the new service, and is realizing an email delivery rate of greater than 99 percent while projecting an annualized cost savings of $1 million.
For more than 25 years, Fiserv has delivered products that have defined the electronic payment marketplace and have enabled billers to achieve some of the highest e-bill adoption rates in the industry. With the eMessaging Service, billing organizations benefit from Fiserv's market knowledge, operational expertise, commitment to industry-leading quality standards, and ongoing investments to drive innovation and industry transformation.
Biller Solutions from Fiserv is an example of Fiserv's Customer & Channel Management core competency. Fiserv offers a complete portfolio for optimizing bill pay touch points to maximize profitability - including electronic and paper bill production and distribution, on-demand and recurring bill payment (via agent, web, IVR and walk-in channels) as well as e-lockbox and remittance processing.
Separately, Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today the general availability of the latest version of the Signature Bank Platform for US financial institutions. Signature 9.2, a powerful, comprehensive retail and commercial banking solution, advances efficient operations and the bank's ability to quickly deploy new products and services - both of which are key objectives for Fiserv clients in this challenging economy.
"Signature 9.2 from Fiserv was designed collaboratively with clients, and it provides immediate business benefits as it expands the innovative and customer-centric features of the platform," said Tony Catalfano, division president, Bank Solutions, Fiserv. "In particular, Signature 9.2 delivers enhanced functionality and process improvements in credit management and loan fulfillment that can lead to increased end-customer satisfaction. This version includes the first enhancements in a multiple release process to deliver additional commercial lending functionality to address the needs of our clients and this dynamic marketplace."
An example of the Fiserv core competency in account processing, Signature 9.2 also provides new risk detection scenarios made available through Fraud Manager for Signature. To strengthen the ability to detect fraud, enhanced features include dynamic risk analysis along with activity profiling and alerts that are sent based on changes in customer behavior. These additional risk detection scenarios built on this integrated platform identify potentially fraudulent behavior based on the actions of both the victim and fraudster.
Regulatory items in Signature 9.2 include the automation of OFAC screening of International ACH Transactions and affiliated marketing capabilities to effectively manage marketing campaigns in compliance with the new Affiliate Marketing Rules instituted by the Federal Trade Commission (FTC).
Signature is a complete, real-time, service-oriented architecture (SOA)-based solution that provides a high degree of flexibility. Coupled with integrated best-in-class Fiserv solutions, Signature can be tailored to support a wide variety of business models. World class organizations rely upon Signature to increase operational efficiency, expand their markets and rapidly deliver a complete range of deposit and lending products. Fiserv clients around the world, ranging in size from de novo subsidiaries of major banks to large institutions, use Signature banking solutions to support complex environments and their unique business models. Proven in production to be highly scalable in mid-tier and large institutions, Signature offers account processing, multi-channel customer sales and service, teller, business intelligence, mobile and Internet banking, enterprise content management, payments, and risk and compliance solutions.