New process automation capabilities simplify the user experience, facilitate efficiency and provide transparency into billing and invoicing

BROOKFIELD, Wis.--(BUSINESS WIRE)--Sep. 10, 2019-- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payment and financial services technology solutions, announced today that it is optimizing the end-to-end billing experience for wealth and asset management firms by integrating process automation into its billing solution. Advantage Fee™ from Fiserv, a comprehensive cloud-enabled billing and revenue management solution, has been enhanced to:

• Streamline and automate the collection of new account data from multiple touchpoints including faxes and emails, reducing manual rekeying of data and exposure from human error
• Provide transparency into the real-time status of all invoices throughout each stage of the billing process via a management dashboard, enabling easy identification of exceptions
• Perform comprehensive invoice validations prior to releasing invoices for payment, helping to ensure invoice accuracy and audit controls

Advantage Fee is used by leading wealth management, custody and trust firms to aggregate financial transactions, calculate fees based on fee agreements, and invoice clients for financial services rendered. Advantage Fee also includes revenue forecasting and “what-if” analysis, allowing users to create rolling forecasts based on key variables and anticipated business events, such as new business and product offerings, pricing strategies, and rate shifts.

“Incorporating process automation capabilities with the powerful calculation engine of Advantage Fee is a ‘win-win’ for billing and operations managers eager to increase billing efficiency and accuracy and accelerate invoicing,” said Tirdad Shojaie, senior vice president, product, marketing and business strategy, Investment Services, Fiserv. “The ability to incorporate process automation within the same platform streamlines the user experience and reduces the potential for error.”

The newly integrated process automation capabilities are built on technology developed by Appway, a global leader in onboarding solutions.

“Fiserv takes the time to understand its clients’ business processes, which enables them to enhance solutions in ways that deliver superior value,” said Hans Peter Wolf, chief executive officer and founder of Appway. “We‘re excited to add value to a sophisticated solution like Advantage Fee.”

Fiserv is a market leader providing innovative wealth management solutions. In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

Additional Resources

• Advantage Fee from Fiserv – fisv.co/advantagefee
• Protect Your Bottom Line – Prevent Billing Inaccuracy and Revenue Loss – fisv.co/billingwebinar

About Appway

Headquartered in Switzerland with offices around the globe, Appway is a leader in client onboarding solutions. Appway’s award-winning software suite serves over 510,000 users worldwide. More than 225 institutions rely on Appway to improve internal efficiencies, engage customers across all channels, and keep ahead of regulations. Appway guides leading financial institutions, both big and small, as they build sustainable and scalable solutions that quickly adapt to changing conditions. For more information about Appway, please visit www.appway.com.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover™ cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among the FORTUNE Magazine World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.

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Source: Fiserv, Inc.

Media Relations:
Ann Cave
Director, Public Relations
Fiserv, Inc.
678-325-9435
ann.cave@fiserv.com

Additional Contact:
Alexander Shorter
Senior Manager, Public Relations
Fiserv, Inc.
678-231-0226
alexander.shorter@fiserv.com