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American Stock Transfer & Trust Company will use Frontier from Fiserv
to mitigate exposure to risk and enable compliance with global
regulatory requirements
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Relationship results from referral partnership between Fiserv and
Investance
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Sibos stand J114 — Fiserv,
Inc. (NASDAQ: FISV), the leading global provider of financial
services technology solutions, today announced that American Stock
Transfer & Trust Company, LLC (AST) has implemented the Frontier™
enterprise reconciliation solution from Fiserv to manage its
reconciliation and exception management process in North America.
Frontier will assist AST with efficient risk management and compliance
controls relating to regulatory requirements, further reducing exposure
to risk, which is critical to AST's international operations and
customer base.
The selection by AST follows a recently announced strategic consulting
partnership between Fiserv and Investance focused on delivering industry
leading solutions and subject matter expertise for financial crime risk
management and reconciliation to the financial services community.
"We continue to invest in solutions that give us greater control and
transparency to help us mitigate risk exposure for our customers'
investments," said Robert M. Carney, Chief Operating Officer of AST.
"Accurate statement of positions is essential in our industry and the
robust reporting functionality within Frontier was a key factor in our
decision to choose Fiserv, along with their impressive pedigree.
Frontier also supports our objective to consolidate reconciliation onto
a single platform, enabling us to realize greater operational
efficiencies."
The Frontier solution enables AST to move from a multi-system
reconciliation process to a fully automated function that provides a
single source of data for the companies' cash and stock positions,
together with a full audit trail and comprehensive reporting. There are
also plans to roll the solution out to manage corporate actions
positions in the future. The solution is currently live in the United
States with Canadian operations slated to go live by the end of
September.
"The speed at which financial markets operate continues to increase,
placing significant pressure on market participants to evaluate and
report positions and financial activity more quickly and efficiently,"
said John Filby, president, Risk & Compliance, Fiserv. "We're pleased to
help AST address key reporting requirements with a scalable, practical
solution that plays a central role in their risk management program
while also ensuring that total cost of ownership for the reconciliation
function is lowered."
Frontier is part of the Financial Control Solutions suite which is
focused on the delivery of software products that enhance operational
efficiency, improve risk management at the transaction level and
mitigate compliance risk. The solution suite delivers market-leading
capabilities across transaction matching, account reconciliation,
exception and case management, account certification, balance sheet
attestation, reporting and performance management
A core competency of the company, Fiserv offers a unique breadth of Risk
and Compliance solutions to help clients optimize usage and return on
capital by making risk transparent and actionable within their
organization. Solution areas include Financial Crime Risk Management,
Financial Risk Management, Financial Performance Management and
Financial Control Solutions. Fiserv is ranked #1 in North America and #4
overall in the annual Chartis RiskTech 100TM.
About American Stock Transfer & Trust Company, LLC
American Stock Transfer & Trust Company, LLC is a leading provider of
registry services and technology to financial market participants in
North America, Australia, New Zealand, Hong Kong, India, South Africa
and the United Kingdom. AST and its partner, Canadian Stock Transfer
(CST), form the North American division of the Link Group. Together, AST
and CST provide comprehensive stock transfer and employee plan services
to more than 8,000 public issues and over 5.5 million shareholders. The
division serves clients located throughout North America and in over 22
foreign countries, ranging in size from initial public offerings to
Fortune 100 companies. For more information, visit www.amstock.com.
About Investance
Investance is a global management consulting firm dedicated to the
financial services industry. We have a team of 300 specialist
consultants with deep industry knowledge and expertise backed by
industry leading intellectual capital in Capital Markets, Wealth and
Asset Management, Investor Services, Insurance and Retail banking. We
provide an integrated range of professional services from strategic
advisory and operational consulting through to bespoke software
solutions and outsourced services to help our clients respond to change
in the industry. We have five established offices in major financial
centers across Europe, North America and Asia to better support our
clients wherever we are needed. Find out more by visiting www.investance.com
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 clients. 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:
Julie Nixon
Senior Public Relations
Manager
Fiserv, Inc.
678-375-3744
julie.nixon@fiserv.com
or
Additional
Fiserv Contact:
Wade Coleman
Director, Public Relations
Fiserv,
Inc.
678-375-1210
wade.coleman@fiserv.com
Source: Fiserv, Inc.
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