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Fiserv CBS Worldwide, a business unit of the Fortune 500 company, Fiserv, Inc. (NASDAQ: FISV), today launched its new integrated trade, treasury and capital markets solution for the global financial services industry. Fiserv Universal Banking solution allows banks to offer a truly universal banking platform that combines full retail and corporate banking functionality through a broad range of products from a single point.
By offering best of breed products previously unavailable from one vendor, bankers are afforded greater potential to pursue and leverage joint retail/business relationships for growth opportunities, such as those involved in customer-owned small businesses. Fiserv Universal Banking provides greater coverage from a single source to financial institutions for those client needs. Internally, banks will realize enhanced customer knowledge, more efficient process management and reduced operating risk by implementing the new solution. By improving risk management and better utilizing assets, banks all over the world can enhance their operational efficiency, reduce their capital requirements and invest available cash elsewhere for a measurable return on investment.
To create the solution, which assists banks by providing seamless process flow for these previously cumbersome operations, Fiserv has partnered with two leading global vendors: CSI BankTrade for Fiserv Trade, and FNX Capital Markets Solutions, a division of GL TRADE group, for Fiserv Treasury and Fiserv Capital Markets. The scale of integration of these three solutions means that bank employees no longer need to view disparate systems for corporate banking and retail banking accounts. Instead they would see a single view of bank and customer positions.
"Retail banks have opportunities to leverage their relationships with corporate clients - particularly the small to medium size enterprise whose owner has personal accounts at the bank. In the United States and elsewhere, we see a trend toward ‘small business bankers,' which is a cross between the traditional corporate banker and the retail banker," said Terry J. Johnson, executive, Crowe Chizek and Company LLC. "There is an expanding need for more sophisticated, best of breed solutions in this space. By focusing on emerging market sectors, such as corporate banking, bankers can create a competitive advantage - and capture these valuable revenue streams."
Fiserv Treasury and Capital Markets best-in-class functionality includes straight through processing (front-to-back, cross asset and multi-location), scalability, high performance limits, a real-time 360 degree view of cash positions and support for a wide range of treasury products (foreign exchange, FX options, fixed income, credit and interest rate derivatives and money markets).
A notable benefit of Fiserv Trade powered by CSI BankTrade is its OpenTrade functionality, which allows banks to provide significant added value in trade transactions, by acting as virtual information "brokers" among the several parties involved. This comprehensive solution standardizes processing while maintaining the flexibility to cater to local needs. It also enables management to better monitor and control the flow of work so as to maximize the bank's existing resources.
"Being able to provide a superbly integrated, real time solution that combines the success of three experienced and trusted vendors is an offering that does not appear in the marketplace today. Another unique aspect of this partnership is the global coverage provided by Fiserv, FNX and CSI. With offices in the Americas, EMEA and Asia-Pacific, clients will have experienced local support anytime, no matter where they are in the world," said Farid Naib, CEO, FNX Capital Markets Solutions, a division of the GL TRADE Group.
Commenting on Fiserv Trade, Douglas Salom, regional sales manager, North America, CSI BankTrade, said, "CSI BankTrade is already a market leader in trade finance and is excited to be able to offer our industry knowledge and solutions to an increasing number of banks through this agreement."
About CSI
CSI has been serving the global banking community for 29 years with innovative, web-based trade finance solutions that support the entire financial trade chain. Financial institutions throughout North America and around the world use our products to reduce operational costs, expand market shares and improve profitability. Our BankTrade back-office, ClientTrade corporate front-end, P.O.-Trade, DocPrep and OpenTrade are all browser-based, SWIFTReady Gold certified and SWIFT TSU compliant solutions that serve to enhance customer service, attract new revenue streams and increase operational efficiencies. For more product information, visit us at www.banktrade.com.
About FNX Capital Markets Solutions
FNX Capital Markets Solutions, part of The GL TRADE group, provides global financial institutions with complete technology solutions for the management and processing of capital market transactions. Established in 1992, the goal has never changed, to give clients a competitive edge utilizing industry-leading technology to maximize productivity and to reduce operational risk. Headquartered in Philadelphia, Pennsylvania, FNX has offices in New York, London, Paris, Tokyo, Singapore, Belgrade, Taipei and Bangkok. Additional information about FNX Capital Market Solutions is available at http://www.fnx.com/.
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 66 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/.
