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Immediate Funds and CardValet from Fiserv Named Winners of the PYMNTS.com 2016 Innovator Awards

March 21, 2016

  • Awards recognize most disruptive players in the payments industry
  • Immediate Funds and CardValet named Best Check Innovation and Best Debit Innovation respectively

BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Immediate FundsSM and CardValet® from Fiserv have been selected as winners of the PYMNTS.com 2016 Innovator Awards, recognizing the most disruptive players in the payments industry.

Immediate Funds, which allows financial institutions' customers and members instant access to funds from checks presented through teller, mobile and ATM channels, won gold in the Best Check Innovation category. CardValet, a card management and fraud mitigation tool, was named the gold winner in the Best Debit Innovation category.

"At Fiserv, we are continually striving to innovate in order to help our clients reimagine the financial experience for their customers," said Kevin Gregoire, group president, Financial Institution Group, Fiserv. "Immediate Funds and CardValet are two excellent examples of products that make people's financial lives easier, aligning seamlessly with the way they live and work."

Immediate Funds helps financial institutions meet the growing expectation among consumers and small businesses for quick and convenient access to their money. In a study commissioned by Fiserv of check-cashing behaviors, 58 percent of respondents found accelerated funds availability at their financial institution extremely appealing. The solution utilizes a proprietary decision engine to help determine funds availability, while providing protection against return losses and greatly improving the customer experience.

Customer and small business demand is driving financial institutions to take action. The most recent organization to select Immediate Funds, a top 10 bank located in the United States is currently implementing the solution for their customers.

CardValet is an app that enables cardholders to control how, where and when their cards are used. Spending limits can be established to allow transactions up to a certain dollar value and decline transactions when amounts exceed pre-defined thresholds. Transactions can also be controlled for certain merchant categories, and a lost or stolen card can be disabled, preventing any purchases or withdrawals.

Location-based controls can restrict transactions to merchants located within a certain range of each cardholder's location (using the phone's GPS); transactions requested outside of the specified range can be declined. CardValet also enables cardholders to conduct limited card-related transactions wherever they are, any time of day, including balance inquiries and locating ATMs.

In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today — financial services at the speed of life. Learn more at TheSpeedofLife.com.

Additional Resources:

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) enables clients to achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more than 30 years, Fiserv has been a leader in financial services technology, and today is among FORTUNE® magazine's World's Most Admired Companies and Forbes magazine's America's Best Employers. For more information, visit www.fiserv.com.

Media Relations:
Elizabeth McMillan, APR
Director, Corporate Communications
Fiserv, Inc.
+1.678-231-3443
elizabeth.mcmillan@fiserv.com
or
Additional Contact:
Mark Jelfs
Public Relations Manager
Fiserv, Inc.
+1.262.879-5930
mark.jelfs@fiserv.com

Source: Fiserv, Inc.

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