Fiserv and Viewpointe partner for cheque image exchange
30 November 2005 | 1880 views | 0
Fiserv, Inc. (NASDAQ: FISV) and Viewpointe, jointly announced today that they are actively building connectivity to enable their member financial institutions to participate in check image exchange activities.
The endeavor, using Viewpointe's Pointe2Pointe(TM) image exchange service, will enable the Fiserv Clearing Network to engage in electronic check clearing and presentment with Viewpointe's members, including some of the nation's largest check processors. The 1,600+ outsourced and 2,400+ in-house Fiserv item processing clients will be eligible to participate as they join the Fiserv Clearing Network. As a result, a large portion of the industry's paper check clearing process will be replaced with more efficient electronic methods.
Connectivity will be implemented immediately, enabling both Fiserv and the Fiserv Clearing Network member institutions to begin sending electronic items to and receiving electronic items from Viewpointe member banks in early 2006.
"Industry interconnectivity is the major driver of the check processing transformation from paper to electronics," said Lou Buglioli, Viewpointe's chief executive officer. "Fiserv represents a dramatic expansion of our network and endpoints available to Viewpointe members. Fiserv has been a partner of Viewpointe in fraud prevention capabilities for some time. We look forward to growing our relationship with them through image exchange and other electronic payment endeavors."
"Fiserv is committed to providing clients with efficient options for clearing checks," said Steve Ward, division president of market development and product delivery for the Fiserv Item Processing Group. "Our extensive number of clients, coupled with Viewpointe members' check volume and Pointe2Pointe(TM) connectivity, will enable both organizations to greatly increase the number of items that can be processed electronically, helping all participants to take full advantage of Check 21 legislation and image exchange."
Pointe2Pointe(TM) enables any financial institution to safely and directly send and receive check images, rather than paper, with Viewpointe's national archive customers and other Pointe2Pointe members. Fiserv will immediately join the Viewpointe User Group, a collaborative team made up of Viewpointe bank peers that is chartered to execute image sharing and exchange relationships and operational business practices decisions.
"Fiserv is a welcome addition to the Viewpointe User Group," said Marie B. LaQuerre, chair of Viewpointe User Group and senior vice president for Bank of America. "Our collective membership continues to seek ways to improve and streamline this industry transition - Fiserv will add value to our overall efforts."