Pennsylvania's Reliance Bank Increases Efficiency Since Agreeing to Use WireXchange Integrated Wire Transfer Solution from IntegraSys Unit of Fiserv
Pennsylvania's Reliance Bank Increases Efficiency Since Agreeing to Use WireXchange Integrated Wire Transfer Solution from IntegraSys Unit of Fiserv
May 17, 2005
Pennsylvania's Reliance Bank Increases Efficiency Since Agreeing to Use WireXchange Integrated Wire Transfer Solution from IntegraSys Unit of FiservBROOKFIELD, Wis.--May 17, 2005--Reliance Bank, a Fiserv VISION client in Altoona, Pa., has increased efficiency in its wire transfer operations since agreeing to use WireXchange, a browser-based tool that enables financial institutions to complete wire transfers online with one-step data entry.
Fiserv VISION recently integrated the WireXchange product from IntegraSys into its core banking system. Both Fiserv VISION and IntegraSys are business units of Fiserv, Inc. (Nasdaq:FISV).
Reliance Bank previously had processed incoming and outgoing wire transfer requests manually through the Federal Home Loan Bank of Pittsburgh and was looking for an automated solution to increase efficiency in the bank's backroom operations, said Lori Pastore, Reliance Bank vice president.
"The features that appeal to us with the WireXchange product include the automated OFAC (Office of Foreign Assets Control) check as well as the automated posting of the wire and fee amount to the customer's account," Pastore said. "We're able to reduce our costs and provide better service to our customers. Also, we have a comfort level with our core processing provider, Fiserv VISION, that we're able to maintain."
With WireXchange, Fiserv VISION clients can reduce errors and eliminate redundancy and manual processes with one-step wire entry that triggers OFAC validation; posts the online, real-time transaction to the Fiserv VISION system; transmits it to the Federal Reserve and confirms completed wires. The IntegraSys WireXchange tool uses secure socket layer (SSL) data encryption to ensure the integrity and confidentiality of transmitted wire transfer data. The solution also features customized authorization controls for added security.
Mike Rigney, president of Fiserv VISION, said the enhanced functionality available through the IntegraSys WireXchange product further demonstrates the many benefits of working with a far-reaching company like Fiserv. "Our customers look to us to help them use technology to create efficiencies in running their banks," Rigney said. "One of the strengths of Fiserv is our ability to take many of the products and services our customers use, integrate them, package them and make them easily accessible - all through our VISION Cleartouch portal that resides on the banker's desktop."
"IntegraSys is committed to defining, developing and deploying innovative solutions that address the specific needs of financial institutions. We created our new WireXchange product to give financial institutions another technology tool to help boost operational efficiencies and increase both the security and the convenience of the wire transfer process," said Dave Selina, senior vice president and general manager of XRoads.
Fiserv VISION is selected by banks that want to combine leading-edge technology with a proven service bureau solution. Fiserv VISION clients range in size from de novo organizations to those with over $10 billion in assets. Serving more than 400 clients in 43 states, Fiserv VISION meets the needs of community and commercial banks, as well as those involved in mortgage and niche banking. Learn more about Fiserv VISION at http://vision.fiserv.com.
Combining a spirit of innovation with 30 years of industry experience, IntegraSys delivers a comprehensive range of well-integrated systems and services that accelerate financial institutions' growth and drive business efficiencies. Whether clients require sophisticated service bureau or in-house technologies, IntegraSys delivers technology to help financial institutions compete and win in their markets. The IntegraSys suite of products and services includes core processing, loan origination, asset and liability management, ATM and debit card services, Internet banking, lending, and bill payment and presentment services. For more information, visit www.integrasys.fiserv.com.
Fiserv, Inc. (Nasdaq:FISV) provides 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 16,500 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.
Fiserv VISION recently integrated the WireXchange product from IntegraSys into its core banking system. Both Fiserv VISION and IntegraSys are business units of Fiserv, Inc. (Nasdaq:FISV).
Reliance Bank previously had processed incoming and outgoing wire transfer requests manually through the Federal Home Loan Bank of Pittsburgh and was looking for an automated solution to increase efficiency in the bank's backroom operations, said Lori Pastore, Reliance Bank vice president.
"The features that appeal to us with the WireXchange product include the automated OFAC (Office of Foreign Assets Control) check as well as the automated posting of the wire and fee amount to the customer's account," Pastore said. "We're able to reduce our costs and provide better service to our customers. Also, we have a comfort level with our core processing provider, Fiserv VISION, that we're able to maintain."
With WireXchange, Fiserv VISION clients can reduce errors and eliminate redundancy and manual processes with one-step wire entry that triggers OFAC validation; posts the online, real-time transaction to the Fiserv VISION system; transmits it to the Federal Reserve and confirms completed wires. The IntegraSys WireXchange tool uses secure socket layer (SSL) data encryption to ensure the integrity and confidentiality of transmitted wire transfer data. The solution also features customized authorization controls for added security.
Mike Rigney, president of Fiserv VISION, said the enhanced functionality available through the IntegraSys WireXchange product further demonstrates the many benefits of working with a far-reaching company like Fiserv. "Our customers look to us to help them use technology to create efficiencies in running their banks," Rigney said. "One of the strengths of Fiserv is our ability to take many of the products and services our customers use, integrate them, package them and make them easily accessible - all through our VISION Cleartouch portal that resides on the banker's desktop."
"IntegraSys is committed to defining, developing and deploying innovative solutions that address the specific needs of financial institutions. We created our new WireXchange product to give financial institutions another technology tool to help boost operational efficiencies and increase both the security and the convenience of the wire transfer process," said Dave Selina, senior vice president and general manager of XRoads.
Fiserv VISION is selected by banks that want to combine leading-edge technology with a proven service bureau solution. Fiserv VISION clients range in size from de novo organizations to those with over $10 billion in assets. Serving more than 400 clients in 43 states, Fiserv VISION meets the needs of community and commercial banks, as well as those involved in mortgage and niche banking. Learn more about Fiserv VISION at http://vision.fiserv.com.
Combining a spirit of innovation with 30 years of industry experience, IntegraSys delivers a comprehensive range of well-integrated systems and services that accelerate financial institutions' growth and drive business efficiencies. Whether clients require sophisticated service bureau or in-house technologies, IntegraSys delivers technology to help financial institutions compete and win in their markets. The IntegraSys suite of products and services includes core processing, loan origination, asset and liability management, ATM and debit card services, Internet banking, lending, and bill payment and presentment services. For more information, visit www.integrasys.fiserv.com.
Fiserv, Inc. (Nasdaq:FISV) provides 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 16,500 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.