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| RemitStream Solutions |
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Fiserv, Inc. |
| 350 North Orleans, 8th Fl. |
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255 Fiserv Drive |
| Chicago, Illinois 60654 |
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Brookfield, WI 53045 |
| CONTACT: |
Joseph J. Mikel |
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Relationship Management & Business Development |
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(312) 660-5185 |
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joe.mikel@fiserv.com |
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| CONTACT: |
Lori Stafford |
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Assistant Vice President, External Comm. |
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(262) 879-5230 |
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Lori.Stafford@fiserv.com |
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REMITSTREAM SOLUTIONS INTRODUCES SAME-DAY ONLINE DECISIONING FOR LOCKBOX EXCEPTIONS - New automated, interactive service with e-mail notifications
BROOKFIELD, Wis.--May 8, 2007-- RemitStream Solutions, today announced its new automated, same-day Web-based decisioning service, LockboxOnline Unbankables. The interactive service with e-mail notifications reduces the time of remittance exception processing for wholesale, wholetail, image, and retail lockbox customers. Previously, exceptions or checks that could not be processed were returned by overnight courier or first class mail to the customer and subsequently processed through a time-consuming manual process.
"An online automated exceptions management service like ours can help organizations process their receivables more quickly, efficiently, and at lower costs," said Anna Quinlan, president, RemitStream Solutions. "Now customers will see the items a full day earlier and no longer lose a day in returning their decisions to us. With less delay in processing time, customers improve their cash flow and enjoy better customer service."
The LockboxOnline Unbankables service provides an e-mail notification to the lockbox customer that one of RemitStream Solutions' processing sites has identified a potential unbankable item, as defined by the customer. The lockbox customer accesses LockboxOnline, RemitStream Solutions' online lockbox reporting application, and reviews images of the check and remittance documents. By clicking on user-friendly buttons and providing specific instructions, the lockbox customer instructs RemitStream Solutions on how to process or return the item. Processing is completed within 24 hours.
About RemitStream Solutions
RemitStream Solutions, on the Web at www.remitstream.com, provides financial institutions with multi-site, quick-to-market lockbox processing solutions with no capital expenditures. Headquartered in Chicago, RemitStream Solutions offers wholesale, wholetail, retail, and image lockbox services that employ the latest image processing technology. Businesses receiving payments through the mail obtain same-day access to check and document images via the Internet, image transmissions or CD-ROMs. RemitStream Solutions is a private-label processor dedicated solely to lockbox processing.
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 $4.5 billion in total revenue for 2006. For more information, please visit www.fiserv.com.
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