ADVISORY/Check 21 - Six Months After Implementation; Fiserv Executives Available to Discuss What Has and Hasn't Happened in Wake of Groundbreaking Legislation
ADVISORY/Check 21 - Six Months After Implementation; Fiserv Executives Available to Discuss What Has and Hasn't Happened in Wake of Groundbreaking Legislation
May 28, 2005
ADVISORY/Check 21 - Six Months After Implementation; Fiserv Executives Available to Discuss What Has and Hasn't Happened in Wake of Groundbreaking Legislation--Fiserv, Inc. (Nasdaq:FISV):
WHAT: Check 21, formally known as the Check Clearing for the 21st Century Act, promised sweeping changes in the way checks were processed and the images transmitted when the law was implemented Oct. 28, 2004. Under Check 21, banks for the first time were allowed to accept electronic images of checks (or substitute checks) instead of traditional paper checks as proof of payment. Experts predicted that new technologies would revolutionize the payments industry.
Six months after the law's implementation, the true impact of Check 21 has yet to be felt. More institutions are moving toward electronic imaging and presentment, but the industry still has a long way to go. Fiserv's expert resources in payment processing are prepared to discuss a variety of topics about Check 21, including:
-- Check 21: A slow-growth scenario or the calm before a storm of changes in transaction processing?
-- Hurdles to electronic check imaging and presentment and how to overcome them.
-- The economics of Check 21: What are early adopters gaining and what are other financial institutions missing by not signing on?
WHO: Experts from the Fiserv Item Processing Group can speak to the issue: Mark Damico, President, Steve Ward, Executive Vice President Ted Umhoefer, Senior Vice President
WHEN/HOW: Experts are available for interviews to address issues involving Check 21. To schedule those interviews, please contact Chuck Doherty, (262) 879-5966, chuck.doherty@fiserv.com; or Mike Muckian, (262) 879-5667, mike.muckian@fiserv.com.
Fiserv, Inc. (Nasdaq:FISV) provides information management systems and services to the financial and health benefits industries, including transaction processing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded 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.
WHAT: Check 21, formally known as the Check Clearing for the 21st Century Act, promised sweeping changes in the way checks were processed and the images transmitted when the law was implemented Oct. 28, 2004. Under Check 21, banks for the first time were allowed to accept electronic images of checks (or substitute checks) instead of traditional paper checks as proof of payment. Experts predicted that new technologies would revolutionize the payments industry.
Six months after the law's implementation, the true impact of Check 21 has yet to be felt. More institutions are moving toward electronic imaging and presentment, but the industry still has a long way to go. Fiserv's expert resources in payment processing are prepared to discuss a variety of topics about Check 21, including:
-- Check 21: A slow-growth scenario or the calm before a storm of changes in transaction processing?
-- Hurdles to electronic check imaging and presentment and how to overcome them.
-- The economics of Check 21: What are early adopters gaining and what are other financial institutions missing by not signing on?
WHO: Experts from the Fiserv Item Processing Group can speak to the issue: Mark Damico, President, Steve Ward, Executive Vice President Ted Umhoefer, Senior Vice President
WHEN/HOW: Experts are available for interviews to address issues involving Check 21. To schedule those interviews, please contact Chuck Doherty, (262) 879-5966, chuck.doherty@fiserv.com; or Mike Muckian, (262) 879-5667, mike.muckian@fiserv.com.
Fiserv, Inc. (Nasdaq:FISV) provides information management systems and services to the financial and health benefits industries, including transaction processing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded 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.