Fiserv's ITI Unit and Moneris Solutions Deliver Merchant Processing Solutions; Alliance Enables Financial Institutions to Enhance Merchant Portfolio Profitability
Fiserv's ITI Unit and Moneris Solutions Deliver Merchant Processing Solutions; Alliance Enables Financial Institutions to Enhance Merchant Portfolio Profitability
July 25, 2005
Fiserv's ITI Unit and Moneris Solutions Deliver Merchant Processing Solutions; Alliance Enables Financial Institutions to Enhance Merchant Portfolio ProfitabilityLINCOLN, Neb.--July 25, 2005--Fiserv, Inc. (Nasdaq:FISV) said its Information Technology, Inc. (ITI) unit and Moneris Solutions have teamed to offer payment processing solutions that help build merchant portfolio profitability for financial institutions. This agreement between ITI, a provider of financial software and services to U.S. financial institutions, and Moneris Solutions, one of North America's largest electronic transaction processors, enables bankers to control payment processing for their business customers while outsourcing backroom functions and credit review.
"As the use of credit and debit cards continues to rise and cash and check usage declines, more bankers are looking to the merchant acquiring industry as a valuable revenue-generating opportunity," said Kim Killingsworth, ITI senior vice president. "By integrating Moneris Solutions software into our Premier® e-commerce suite, our clients are better-equipped to keep pace with these payment changes while building revenue-generating merchant portfolios."
Moneris Solutions offers financial institutions the opportunity to brand their merchant services offerings and choose the specific applications, payment methods and back-office functions they require. Advanced point-of-sale technologies, wireless payment processing and electronic bill payment are among the products and services institutions can provide their business customers, which can then use these services with their own clientele at the point of sale. Program options range from fully outsourced to full-liability.
"We appreciate the opportunity to join forces with ITI and provide their clients with a highly differentiated business model," said Larry C. Wine, president of Moneris Solutions, U.S. Group. "Bankers recognize the need for a truly dynamic merchant services strategy, and we're able to help their organizations develop programs that drive new customer acquisition and cross-selling opportunities."
Wine added that Moneris works through financial institutions "without creating competition for their existing customer base. Like ITI, we've been successful at establishing long-term client partnerships."
Moneris Solutions (www.monerisusa.com) has a 30-year history as one of North America's largest electronic transaction processors, delivering advanced payment card processing capabilities through point-of-sale hardware, payment processing software, e-commerce solutions and a gift and loyalty program. Moneris provides transaction-processing services nationwide through numerous agent banks, and serves the small- to medium-sized business market through direct sales and strategic partnerships. A joint investment of the Royal Bank of Canada and the Bank of Montreal, which have assets in excess of $700 billion, Moneris serves more than 350,000 North American merchant locations and has a staff of over 1,100 employees. U.S. headquarters are located outside of Chicago, Ill.
Information Technology, Inc. (ITI) specializes in openly integrated, next-generation banking technology. The company offers several core solutions, including the Premier and PCS Vision suites, as well as a broad range of supporting products and services that deliver teller and platform automation, Internet banking and e-commerce, imaging and document management, executive intelligence, risk and relationship management solutions for financial institutions and their customers. Installation, education, custom programming and consulting services support each technology solution. ITI works hand-in-hand with financial institutions running these solutions in-house on the nation's most popular hardware platforms and with regional data centers that serve the outsourced account processing needs of America's bankers. Founded in 1976, ITI works closely with some of the best-known technology companies in the world and has grown to incorporate businesses and offices nationwide, including its Premier, Precision Computer Systems (PCS), Branch Automation, eSolutions, Digital Solutions, Decision Metrics and Professional Services operating units. A subsidiary of Fiserv, Inc., ITI can be found on the Internet at www.itiwnet.com.
Fiserv, Inc. (Nasdaq:FISV) is a provider of information management systems and services to the financial and health benefits industries, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004.
Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.
"As the use of credit and debit cards continues to rise and cash and check usage declines, more bankers are looking to the merchant acquiring industry as a valuable revenue-generating opportunity," said Kim Killingsworth, ITI senior vice president. "By integrating Moneris Solutions software into our Premier® e-commerce suite, our clients are better-equipped to keep pace with these payment changes while building revenue-generating merchant portfolios."
Moneris Solutions offers financial institutions the opportunity to brand their merchant services offerings and choose the specific applications, payment methods and back-office functions they require. Advanced point-of-sale technologies, wireless payment processing and electronic bill payment are among the products and services institutions can provide their business customers, which can then use these services with their own clientele at the point of sale. Program options range from fully outsourced to full-liability.
"We appreciate the opportunity to join forces with ITI and provide their clients with a highly differentiated business model," said Larry C. Wine, president of Moneris Solutions, U.S. Group. "Bankers recognize the need for a truly dynamic merchant services strategy, and we're able to help their organizations develop programs that drive new customer acquisition and cross-selling opportunities."
Wine added that Moneris works through financial institutions "without creating competition for their existing customer base. Like ITI, we've been successful at establishing long-term client partnerships."
Moneris Solutions (www.monerisusa.com) has a 30-year history as one of North America's largest electronic transaction processors, delivering advanced payment card processing capabilities through point-of-sale hardware, payment processing software, e-commerce solutions and a gift and loyalty program. Moneris provides transaction-processing services nationwide through numerous agent banks, and serves the small- to medium-sized business market through direct sales and strategic partnerships. A joint investment of the Royal Bank of Canada and the Bank of Montreal, which have assets in excess of $700 billion, Moneris serves more than 350,000 North American merchant locations and has a staff of over 1,100 employees. U.S. headquarters are located outside of Chicago, Ill.
Information Technology, Inc. (ITI) specializes in openly integrated, next-generation banking technology. The company offers several core solutions, including the Premier and PCS Vision suites, as well as a broad range of supporting products and services that deliver teller and platform automation, Internet banking and e-commerce, imaging and document management, executive intelligence, risk and relationship management solutions for financial institutions and their customers. Installation, education, custom programming and consulting services support each technology solution. ITI works hand-in-hand with financial institutions running these solutions in-house on the nation's most popular hardware platforms and with regional data centers that serve the outsourced account processing needs of America's bankers. Founded in 1976, ITI works closely with some of the best-known technology companies in the world and has grown to incorporate businesses and offices nationwide, including its Premier, Precision Computer Systems (PCS), Branch Automation, eSolutions, Digital Solutions, Decision Metrics and Professional Services operating units. A subsidiary of Fiserv, Inc., ITI can be found on the Internet at www.itiwnet.com.
Fiserv, Inc. (Nasdaq:FISV) is a provider of information management systems and services to the financial and health benefits industries, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004.
Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.