SAB Recent Developments
Fiserv and Select-A-Branch Ink ATM Management and Transaction Processing Deal -June 28, 2007
Brookfield, Wis., June 28, 2007 - Fiserv EFT, one of the largest electronic funds transfer (EFT) processors in the United States, and a business unit of Fiserv, Inc. (NASDAQ: FISV), announced it has signed a seven-year transaction processing and ATM management agreement with Select-A-Branch, an Independent Service Operator. Fiserv EFT gives clients a single source solution for their ATM and debit program needs.
"Fiserv EFT provides us with the expertise we need to ensure a positive consumer and financial institution experience with our ATM network," said Dan Garner, president and chief executive officer of Select-A-Branch. "Cardholder and financial institution needs have converged around access, and our relationship with Fiserv EFT will allow us to move ahead at our own pace with our growth plans."
Select-A-Branch offers a patented process that allows Select-A-Branch ATMs to recognize the financial institution associated with each ATM card presented. Cardholders of participant financial institutions then receive branded, surcharge-free transactions. In this way, Select-A-Branch turns a traditional "single institution" ATM into a multi-institution touch point, providing a superior cardholder transaction experience while providing financial institutions with a low-cost alternative to increase their service reach. Select-A-Branch ATMs are currently located along the Pennsylvania Turnpike and in other prominent center city Philadelphia locations.
"We are very pleased to work with industry visionaries like Select-A-Branch that deliver exceptional, innovative products and services," said Kevin Gregoire, executive vice president of Fiserv EFT. "With Select-A-Branch, cardholders and financial institutions both benefit because Select-A-Branch's service delivery model simultaneously satisfies consumer demand for convenience and ATM deployer's need to extend their services. In the very truest sense of the term, this is a 'win-win' relationship."
About Select-A-Branch
SAB is an ATM Independent Service Operator that seeks to grow its network in high-traffic locations. SAB's patent pending ATM Software Solution allows banks and credit unions to deliver a branded, surcharge-free ATM transaction to any of its customers/members at any SAB ATM, resulting in increased patronage and customer satisfaction.
Launched in 2006, SAB has offices in King of Prussia, Pa.
About Fiserv EFT
Fiserv EFT provides ATM and debit services to more than 2,700 financial institutions across the United States. The business unit owns the ACCEL/Exchange Network, one of the fastest-growing ATM and POS (point-of-sale) networks in the United States. It also operates 17,000 ATMs and currently processes approximately 445 million ATM and debit transactions per month, making it one of the largest electronic funds transfer processors in the nation.
About Fiserv
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.
FiservEFT_SAB.pdf