Fiserv, Inc. announced Friday an agreement with American Express in which Fiserv is providing account processing and information management for American Express Membership B@nking. This new direct bank offering from American Express provides consumers with a range of high-value products; quality customer service; and the convenience of banking online, by telephone, ATM or mail.
As a leading technology resource, Fiserv is setting the standard for advanced financial information management solutions. Financial services providers and other organizations seeking to develop their electronic banking offerings to their customers can rely on ePrime@Fiserv(TM) for all the systems, products and expertise necessary for formation of a direct bank–all through a single relationship with Fiserv.
“We believe Membership B@nking is one of the most compelling direct banks in the marketplace today,” said Ruediger Adolph, Senior Vice President, Strategic Planning and Business Development at American Express. “By working with a service provider such as Fiserv, we are able to leverage outside expertise to bring products to market more quickly and cost-effectively.”
“This agreement highlights the scope and comprehensiveness of our ePrime@Fiserv direct/Internet bank offering,” said Leslie M. Muma, President and Chief Executive Officer of Fiserv, Inc. “We are proud to have been selected as the American Express technology partner for American Express Membership B@nking.
“With our line-up of ePrime@Fiserv direct bank solution sets, Fiserv is best positioned to meet the growing demand for direct/Internet banking, having spent years developing the resources and technological expertise necessary to create and support the demand for this new type of service,” Muma added. “Our strategy has been to create a supermarket of financial information technology services, allowing us to provide comprehensive scaleable solutions to meet each client’s requirements.”
The ePrime@Fiserv solution set initially supporting American Express Membership B@nking includes Internet access and a full-service, automated banking component. The Fiserv Comprehensive Banking System serves as the core account processing solution.
Membership B@nking ([http://www.americanexpress.com/bank ing]) provides high rates on deposits, low rate lines of credit, rebates on ATM surcharges and free unlimited electronic bill payment. Its range of products includes money market and checking accounts, CDs and lines of credit that offer among the best rates in the industry. “The Fiserv business strategy in the e-services arena is focused on meeting the requirements of an emerging and converging financial world, and we have the solid financial foundation to carry it out,” Muma added. “We will continue to build on our new product strengths in this area with focused research and development, strategic acquisitions and selected industry partnerships.”
Fiserv, Inc. (NASDAQ:FISV) is an independent, full-service provider of integrated data processing and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 7,000 financial service providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies, mortgage banks and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv also can be found on the Internet at [www.fiserv.com].