Fiserv EFT Becomes First Third-Party Processor To Certify to CUSC Next Generation Network
Fiserv EFT Becomes First Third-Party Processor To Certify to CUSC Next Generation Network
March 9, 2005
Fiserv EFT Becomes First Third-Party Processor To Certify to CUSC Next Generation NetworkBROOKFIELD, Wis.--March 9, 2005--Fiserv EFT, a unit of Fiserv, Inc. (Nasdaq:FISV), said today it has become the first - and only - third-party processor to be certified by Credit Union Service Corporation (CUSC) for access to the Next Generation Network (NGN) switch.
The NGN, designed by CUSC specifically for credit unions, is a state-of-the-art technology platform providing robust custom functionality, fraud prevention and connectivity capabilities. The certification connects the transaction processing capability of Fiserv EFT with CUSC's more than 1,400 shared branch network service center and outlet locations throughout the United States.
"Our relationship with CUSC is a tremendous benefit to credit unions across the country," said Tony Catalfano, president and chief operating officer of Fiserv EFT. "Our connection to the NGN ensures our credit union clients can take advantage of industry-leading processing capabilities and shared branching products while realizing the tangible benefits of enhanced service and nationwide service reach."
Fiserv is the largest provider of core processing services to the credit union community and the certification enables Fiserv to extend its coast-to-coast role as a processor for shared branching services. Fiserv EFT currently provides shared branching services to more than 250 clients and processes approximately 1.2 million shared branch transactions per month as part of an existing co-switch agreement with CUSC.
"Fiserv EFT is a prime enabler in helping CUSC achieve its vision of connecting credit unions around the world to their members," said Carroll Beach, president and CEO of CUSC. "Through the NGN, credit unions will have access to fraud resistance capabilities, communication enhancements and enriched member account management capabilities. We are very pleased to have Fiserv as our first Next Generation Network partner."
Credit Union Service Corporation (CUSC) is the credit union movement's largest shared branching network, representing 55% of all national locations and 68% of credit unions participating in shared branching. CUSC is the only shared branching network representing credit unions, leagues, credit union service organizations (CUSOs), the Credit Union National Association (CUNA) and CUNA Mutual.
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.
The NGN, designed by CUSC specifically for credit unions, is a state-of-the-art technology platform providing robust custom functionality, fraud prevention and connectivity capabilities. The certification connects the transaction processing capability of Fiserv EFT with CUSC's more than 1,400 shared branch network service center and outlet locations throughout the United States.
"Our relationship with CUSC is a tremendous benefit to credit unions across the country," said Tony Catalfano, president and chief operating officer of Fiserv EFT. "Our connection to the NGN ensures our credit union clients can take advantage of industry-leading processing capabilities and shared branching products while realizing the tangible benefits of enhanced service and nationwide service reach."
Fiserv is the largest provider of core processing services to the credit union community and the certification enables Fiserv to extend its coast-to-coast role as a processor for shared branching services. Fiserv EFT currently provides shared branching services to more than 250 clients and processes approximately 1.2 million shared branch transactions per month as part of an existing co-switch agreement with CUSC.
"Fiserv EFT is a prime enabler in helping CUSC achieve its vision of connecting credit unions around the world to their members," said Carroll Beach, president and CEO of CUSC. "Through the NGN, credit unions will have access to fraud resistance capabilities, communication enhancements and enriched member account management capabilities. We are very pleased to have Fiserv as our first Next Generation Network partner."
Credit Union Service Corporation (CUSC) is the credit union movement's largest shared branching network, representing 55% of all national locations and 68% of credit unions participating in shared branching. CUSC is the only shared branching network representing credit unions, leagues, credit union service organizations (CUSOs), the Credit Union National Association (CUNA) and CUNA Mutual.
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.