Lake Mary, Fla., July 31, 2007 - Fiserv CBS Worldwide, a division of the Fortune 500 company, Fiserv, Inc., announced today that Commonwealth Bank Ltd. in the Caribbean has renewed its contract with Fiserv for an additional five years. Commonwealth has been a Fiserv client since 1997.
Fiserv CBS Worldwide currently provides core processing, relationship management and collections products for the bank. Commonwealth cited the advanced functionality of Fiserv's products, exceptional service, new product offerings and strategic direction as the reasons the bank chose to continue their relationship with the FinTech 100 leader.
"Fiserv's direction towards banking solutions that ensure compliance and enable each bank to craft products to their own strategic direction is in line with our future plans. Renewing with our technology partner, Fiserv, demonstrates our confidence that their strategic direction is closely aligned with the path down which Commonwealth wants to head," said Charles Knowles, Vice President, Information Technology, Commonwealth Bank Ltd.
Committed to their focus on community-oriented banking through a high level of customer service, Commonwealth Bank, a $1.075 billion bank that is located in the Bahamas, has been growing steadily since it began in 1960. Commonwealth Bank is known as the only bank in the Bahamas to offer fully computerized banking that allows complete inter-branch services.
Dan Alf, managing director, Latin America, Canada and the Caribbean, Fiserv CBS Worldwide, said, "Commonwealth Bank has been a client with Fiserv for over 10 years now. During that period, they have continually expanded and upgraded their technology and business model to improve efficiency, competitiveness, and servicing to their clients. Commonwealth Bank is fortunate to have the leadership and expertise to execute their long-term business and IT strategy. Fiserv is privileged to be able to renew this partnership and continue on this journey with the bank."
About Fiserv CBS Worldwide
Fiserv CBS Worldwide is a unit of Fiserv Inc. (NASDAQ: FISV), a Fortune 500 company that serves more than 18,000 clients in 50 countries around the world. Fiserv CBS Worldwide delivers end-to-end business and technology solutions for retail financial organizations, consumer finance institutions and credit unions throughout Europe, Asia-Pacific, Latin America, the Caribbean, Canada and the United States. Through its offices in the USA, UK, Poland, Russia, Singapore, Australia, China, Indonesia, Colombia, Costa Rica and Mexico, Fiserv CBS Worldwide enables financial institutions globally to deliver integrated solutions for managing the entire customer relationship from core banking to multi-channel customer contact and business intelligence. Fiserv CBS Worldwide can be found on the Internet at http://www.fiservcbs.com/.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 18,000 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 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.4 billion in total revenue for 2006. For more information, please visit http://www.fiserv.com/.
