Fiserv Orlando’s PLUS System, the industry’s leading credit-processing solution, was selected by Whirlpool Financial Corporation to handle all aspects of its private label credit card processing operations, Fiserv announced Thursday.
Whirlpool Financial parent, Whirlpool Corporation, headquartered in Benton Harbor, Michigan, is the world’s leading manufacturer and marketer of major home appliances. With approximately 60,000 employees, Whirlpool manufactures in 13 countries and markets products in more than 170 countries under 11 major brand names.
! ‘It is an honor to welcome Whirlpool Financial Corporation into the Fiserv client family,’ said Max Narro, Vice President for Fiserv’s Credit Processing Services. ‘We were gratified that we could help Whirlpool Financial resolve a unique situation with their credit card portfolio.’ Whirlpool Financial’s Specialized Needs Require Accuracy and Ease of Transition Whirlpool Financial Corporation, the financial subsidiary of Whirlpool Corporation, was left with a sizeable account base to service its private label credit card operation. While the majority of its credit card accounts were sold to Transamerica Distribution Finance Corporation in 1997, Whirlpool Financial was left without a system for handling the remaining portfolio. The problem was, explained Bob LaForest, vice president of Whirlpool Financial, ‘along with their purchase, Transamerica bought our in-house software program, VisionPLUS.’
In looking for an alternate solution, Whirlpool Financial decided they no longer wanted to service the accounts in-house. LaForest noted, ‘Our priority was to find an outsourced solution that could ease the transition and put less strain on staff. We were looking for someone who used the VisionPLUS system, because our people were very familiar with the system.’
Whirlpool Financial selected Fiserv Orlando, ‘primarily because we had worked with them before and I knew they understood our priorities and what our tasks were in managing this portfolio,’ said LaForest. The Fiserv VisionPLUS tools were implemented in November, LaForest said, and the transition is nearing completion. ‘We had to transition over the Holidays, which slowed things up, but Fiserv has been very responsive.’
As the remaining accounts phase out, there is still a need for good service, LaForest pointed out. ‘It’s a different kind of situation from most. What we really need at this point is a smooth transition, and accuracy in the billing out of our remaining accounts. That’s why we chose Fiserv.’
More About Fiserv and Its Credit-Processing Services
Fiserv’s PLUS System unites PaySysÂ® International’s VisionPLUS credit processing software-the industry’s leading credit-processing solution-with Fiserv’s decades of information-processing expertise. This powerful mix of software and service provides a state-of-the-art foundation upon which businesses can build innovative private-label revolving credit card, bankcard, and installment credit programs.
Credit-processing clients of Fiserv’s Orlando-based business unit include such industry leaders as Conseco Finance Servicing Corp., Bombardier Capital, John Deere Credit, Shoppers Charge Accounts Co., EDS, Statesman Financial, Orchard Supply Hardware, and others. Every month, Fiserv processes about 50 million credit transactions nationwide.
Fiserv, Inc. (NASDAQ: FISV), the parent corporation of Fiserv Orlando, is an independent, full service provider of software and information management systems to the world’s financial-services industry. Fiserv’s staff of over 13,000 serves more than 10,000 clients worldwide, including finance companies, banks, credit unions, financial planners, broker/dealers, insurance companies, mortgage companies, and savings institutions. Visit Fiserv on the Internet at [www.fiserv.com].