Financial services industry leaders join forces to deliver automated
foreign currency exchange capabilities using integrated wire transfer
solution from Fiserv
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Fiserv,
Inc. (NASDAQ: FISV), the leading global provider of financial
services technology solutions and Wells
Fargo & Co. (NYSE: WFC), one of the largest providers of foreign
exchange services, announced today they are delivering advanced foreign
currency exchange capabilities through WireXchange® from
Fiserv, a flexible automated solution for completing end-to-end wire
transfers.
The interface with Wells Fargo provides financial institutions with the
added convenience to seamlessly initiate foreign exchange transactions
using WireXchange.
The addition of a fully integrated foreign exchange application further
eliminates manual processes and enables users to experience the benefits
of WireXchange—which include convenient one-time data entry, streamlined
end-to-end wire transfer processing and automated OFAC compliance—with
the added advantage of single-step transfers for foreign exchange
transactions.
"At Fiserv, we continually seek out opportunities to enhance our
products and services and provide practical technology tools to support
our clients' day-to-day business operations. As the demand for payments
in foreign currency increases, financial institutions need solutions to
serve that need in a streamlined, cost-efficient way. With this
solution, our clients will experience cost savings and operational
efficiencies, potentially find new revenue sources, and gain competitive
advantages," said Dave Selina, segment executive for Fiserv.
"With continued growth in international trade, financial institutions
are finding that they must offer a full range of international
capabilities in order to remain competitive," said Gregg Napoli,
Executive Vice President, Wells Fargo Foreign Exchange Services. "This
is a winning solution for financial institutions to meet their
customers' and members' needs and generate revenue, because they can
leverage Wells Fargo's existing foreign exchange trading and payment
execution infrastructure, as well as benefit from the convenience and
efficiency of having a foreign exchange module seamlessly integrated
within the WireXchange application from Fiserv."
Another example of the Fiserv core competency in processing, the
browser-based WireXchange solution features one-time wire entry to
streamline every step in the process, including verification, OFAC
screening, posting to the host system, delivery to the Federal Reserve
and automated notification to customers. Tight integration between
WireXchange and Fiserv account processing solutions creates a robust
automated wire transfer solution archiving all transfers processed
through WireXchange.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of
information management and electronic commerce systems for the financial
services industry, driving innovation that transforms experiences for
financial institutions and their customers. Fiserv is ranked No. 1 on
the FinTech 100 survey of top technology partners to the financial
services industry. For more information, visit www.fiserv.com.
(FISV-G)
Media Relations:
Alicia Bell
Director of Communications
Credit
Union Solutions
Fiserv, Inc.
469-287-3709
alicia.bell@fiserv.com
Additional
Fiserv Contact:
Wade Coleman
Director, Global
Communications
Fiserv, Inc.
706-225-9233
wade.coleman@fiserv.com
Source: Fiserv
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