SUMMIT, N.J., Apr 27, 2006 (BUSINESS WIRE) -- Interactive Technologies, a unit of Fiserv, Inc. (Nasdaq:FISV), has announced that CIBC Mellon, a leading provider of asset and trust services, agreed to license its Advantage Fee System to optimize its client fee billing and revenue management.

"We were looking for a solution that would simplify our client fee billing process with the scale and flexibility to process increasingly complex transactions over time," said Thomas C. MacMillan, president and CEO of CIBC Mellon. "We chose the Advantage Fee System because of Interactive Technologies' extensive experience and reputation in the industry and the product's ability to help us meet our client fee billing requirements."

The Advantage Fee System will automate, consolidate and simplify the fee billing and revenue management activities for CIBC Mellon's asset servicing and trust clients. Activities initially being targeted for installation of the new management software platform include data aggregation, calculation of complex fees, invoicing and reporting.

Thomas Dackow, president of Interactive Technologies, said the Advantage Fee System continues as the solution of choice for financial firms seeking the inherent benefits associated with improved control and transparency of fee billing and revenue management activities.

"CIBC Mellon is an important addition to our global community of leading financial organizations," said Dackow. "Their decision illustrates the industry's keen interest in securing benefits gained with the Advantage Fee System for operational efficiencies, revenue recognition and fee transparency. These benefits ultimately translate into organizational cost reductions, revenue increases and elimination of audit concerns."

CIBC Mellon is a 50-50 joint venture between Canadian Imperial Bank of Commerce and Mellon Financial Corporation. CIBC Mellon's (www.cibcmellon.com) two operating entities are CIBC Mellon Global Securities Services Company, a leading Canadian provider of custody services, and CIBC Mellon Trust Company, a leading provider of trust services in Canada.

Interactive Technologies, a business unit of Fiserv, Inc. (Nasdaq:FISV), is an international organization that develops and delivers software solutions which support current and emerging financial industry needs for enterprise-wide fee billing and revenue management. Founded in 1993, Interactive Technologies is based in Summit, N.J., and has additional offices in Los Angeles, London and Toronto. The company's sole product - Advantage Fee System - provides banking and financial service institutions with a comprehensive solution for streamlining, automating and managing fee-based billing operations. For more information, visit www.itadv.com.

Fiserv, Inc. (Nasdaq:FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing, software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management, and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.

SOURCE: Fiserv, Inc.

Interactive Technologies, Inc.
Kirk T. Dackow, 908-273-1116
or
Fiserv, Inc.
Mike Muckian, 262-879-5966

Copyright Business Wire 2006

News Provided by COMTEX