BROOKFIELD, Wis., Sep 20, 2006 (BUSINESS WIRE) -- Fiserv Inc. (Nasdaq:FISV) has deployed its merchant capture solution for Danversbank, enabling the $1.1 billion financial institution to offer software allowing its commercial banking customers to electronically capture and deposit checks without leaving their place of business. Premier(R) Merchant Capture, an image capture solution from Fiserv business unit Information Technology Inc. (ITI), reduces the costs of transportation and deposit preparation for businesses, while making later posting deadlines and improved cash flow possible.

"The technology provided by this solution enables Danversbank to better serve customers in this highly competitive and expanding area of banking, while maintaining the level of customer service expected from a community bank," said Kevin Bottomley, president and CEO of the Danvers, Mass., based bank.

To begin the deposit process, merchants simply place a check in a portable scanner at their place of business, which automatically captures the images of the check's front and back. Premier Merchant Capture then totals the number and value of all imaged checks and verifies that none have already been presented in the current or previous deposit. Using a secure Internet connection, the business then sends the entire batch of checks to Danversbank, which, in turn, provides confirmation when the deposit is received.

With this streamlined deposit process, businesses also reduce posting errors, take advantage of extended deposit processing windows, benefit from faster availability of funds and no longer need to complete deposit slips. In addition, businesses are able to keep a digital archive of all checks to simplify later research.

"The cost savings and convenience of electronic deposits is a win-win situation for our customers and for Danversbank," said Phil Peters, the bank's senior vice president of cash management and commercial deposit services. "With Danversbank, companies of any size have access to the latest electronic treasury management and liquidity tools to manage their working capital."

About Danversbank

Danversbank, founded in 1850, is a $1.1 billion Massachusetts financial institution operating from 12 locations in Andover, Beverly, Chelsea, Danvers, Middleton, Peabody, Reading, Revere, Salem, Wilmington and Woburn and one commercial banking office in Boston. The bank has been recognized by the FDIC as "Outstanding" for its community reinvestment activities, named one of Massachusetts' "Best Places to Work" by the Boston Business Journal in 2005 and 2006, and was runner-up for the Better Business Bureau's local 2006 Torch Award for Excellence. For more information, call the Customer Support Center at (800) 771-8200.

About Information Technology Inc.

Serving more U.S. banks and savings institutions than any other software and services vendor, ITI offers several core solutions, including the service oriented architecture-based Premier(R) and PCS Vision(TM) suites, and a broad range of supporting products and services available on the nation's most popular IBM and Unisys hardware platforms for in-house and outsourced account processing. 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 business unit of Fiserv Inc., ITI can be found on the Internet at www.itiwnet.com.

About Fiserv Inc.

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 (BPO), 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.

Information Technology, Inc.
David E. Carden, 402-421-4211
david.carden@iti.fiserv.com
or
Fiserv, Inc.
Mike Muckian, 262-879-5667
mike.muckian@fiserv.com

Copyright Business Wire 2006

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