Fiserv VISION Signs 62 New Clients as Financial Institutions Embrace Solution's Focus on Integrated Functionality

March 7, 2005
Fiserv VISION Signs 62 New Clients as Financial Institutions Embrace Solution's Focus on Integrated FunctionalityBROOKFIELD, Wis.--March 7, 2005--A strong product focus on integrated functionality was a key factor in convincing 62 financial institutions to sign agreements in 2004 to convert their core processing to the Fiserv VISION system from Fiserv, Inc. (Nasdaq:FISV)

The client tally included financial institutions that were new to Fiserv VISION and many that migrated from other Fiserv products.

The move to Fiserv VISION continued a trend that accelerated in 2003 when the Fiserv business unit embarked on a new technology direction to offer a more dynamic core banking system, said Mike Rigney, president of Fiserv VISION. Fiserv VISION has more than 325 clients in 43 states.

"Our clients very much want a core processing system that offers tight integration with other technology - products such as Internet banking, electronic funds transfers or check and document imaging and the latest regulatory requirements such as USA Patriot Act compliance," Rigney said. "We have spent a great deal of time and resources at Fiserv VISION developing a solution that provides that integration in a way that not only makes life easier for our clients, but also enables them to provide more benefits to their customers."

Fiserv VISION offers a browser-based solution that provides enhanced functionality to financial institutions. They include the ability to more simply integrate products into the system; as well as dynamic scalability; intuitive look, feel and navigation; easier distribution for software upgrades; and increased security.

"We are very excited about the technology that Fiserv VISION has to offer," said Joseph T. Baptista Jr., executive vice president of Mechanics Co/operative Bank of Taunton, Mass. "As a community bank, it is extremely important for us to offer a wide range of products and services to our customers. The integration of Fiserv VISION will allow us the opportunity to do that more effectively and efficiently."

Bill Walsh, president and CEO of Millbury Savings Bank, a $161 million financial institution in Millbury, Mass., said Fiserv's ability to deliver a wide array of integrated products and services was a key reason in the choice of VISION. Millbury Savings Bank also will rely on Fiserv for the VISION Data Warehouse, Internet banking, check imaging and electronic funds transfer services.

"I think what makes Fiserv unique is the breadth of services available from one company," Walsh said. "It's much more convenient and efficient for a bank our size to have one resource for all of the products and services we require to serve our customers."

Harvard Savings Bank, a bank with assets of $118 million in the Chicago suburb of Harvard, chose VISION for several reasons.

"We were impressed with the features and functionality of the system, along with the one-stop-shopping aspect made possible by Fiserv VISION's integration to third-party companies and other Fiserv solutions," said Dave Albright, Harvard Savings Bank chief financial officer. "Finally, the references we contacted helped us conclude that Fiserv VISION was the right choice for us."

Fiserv VISION provides community and commercial banks with a complete online banking solution. Fiserv VISION services more than 350 clients in 43 states, ranging in size from de novo organizations to those with more than $10 billion in assets. More than 600 professionals support Fiserv VISION in its Brookfield, Wis., headquarters and in service facilities and specialized development operations in Glastonbury, Conn; Tampa and Orlando, Fla.

Fiserv, Inc. (Nasdaq:FISV) provides information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/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 can be found on the Internet at