Tesco Bank launched its first product, the Tesco Bank Fixed Rate Saver, on the Fiserv platform on October 6, 2010. The Tesco Bank Fixed Rate Saver offers a competitive rate of return for a fixed term deposit of one or two years.

Tesco Bank is the UK's largest supermarket bank with 6.5 million customer accounts. Tesco Bank announced its selection of Fiserv in November 2009 based on its ability to provide an innovative, end-to-end banking solution that is proven in markets around the world.

In addition to the Signature account processing and servicing platform, the strategic implementation from Fiserv for Tesco Bank will introduce enhancements in online banking with Corillian(R) Online and customer interaction and campaign management with Aperio(TM). Additional Fiserv solutions are also being provided to the bank in the areas of financial crime prevention, reconciliation management, and electronic document management solutions.

"In working with Tesco Bank, we can see that they are visionary in their plans to align business processes, IT, data and analytics and service delivery," said Tony Catalfano, division president, Bank Solutions, Fiserv. "By choosing Fiserv as its technology provider, Tesco Bank benefits from a secure, reliable environment, operating on a service-oriented architecture (SOA) model to deliver new and existing solutions enterprise-wide. Our solutions can be readily integrated, speeding implementation and giving maximum flexibility to meet the needs of Tesco Bank's customer-focused business model."