Fiserv, Inc. today announced that the company was recognized as a top online bill payment processor in a recent report by Aite Group, a financial services research firm. Fiserv provides highly integrated, user-friendly online banking and bill payment solutions through the industry's most comprehensive network of financial institutions, billers and end-users.
- Fiserv leads industry in end users, transactions and key features such as bill presentment -
Brookfield, Wis., November 23, 2009 - Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that the company was recognized as a top online bill payment processor in a recent report by Aite Group, a financial services research firm. Fiserv provides highly integrated, user-friendly online banking and bill payment solutions through the industry's most comprehensive network of financial institutions, billers and end-users.
In the report, Online Banking Bill Payments: A Vendor Performance Update, Aite Group highlighted the performance of leading online bill payment processors from 2006 through the first half of 2009. Aite evaluated each provider against 21 key criteria, including number of end-users, transaction market share, bill presentment capabilities and processing speed. Fiserv was recognized as one of the best overall performers in the assessment. According to Aite, Fiserv processes more transactions than all of the other providers in the report combined and supports the largest number of bill pay end-users in the industry. The company also leads the small business bill pay market in customers and transactions.
"By a wide margin, Fiserv commands the largest market share among consolidator processors by number of end-users," said Gwenn Bezard, research director, Aite Group. "Still, Fiserv has managed to steadily increase its relative market share by number of end-users over the past few years, from 73.4 percent in 2006 to 76.1 percent in the first half of 2009."
Reinforcing the company's core competencies in customer and channel management and payments, other report findings reiterate the strong performance of Fiserv, based on features that drive greater user satisfaction, including:
- Bill Presentment - Fiserv has the greatest share of electronic bills (e-bills) delivered within the online banking channel, with an estimated 93 percent of e-bills as of 2008.
- Processing Speed - Eighty percent of Fiserv payments are processed same-day or next-day, a leading figure among the providers evaluated in the report.
- Small Business Payments - Fiserv leads all other providers listed in the report in the number of small business customers and number of small business transactions, providing financial institutions with payments flexibility across multiple lines of business.
"Consumers are looking to their financial institutions to provide user-friendly bill payment options that integrate seamlessly into the online banking experience," said Erich Litch, senior vice president and general manager, Consumer Services, Fiserv. "Fiserv is focused on providing a superior online banking and bill payment experience through rich user interfaces and intuitive functionality, which drives user satisfaction. With the introduction and expansion of mobile and person-to-person payment options we are continuing to innovate and provide our financial institution clients the services they need to engage their customers today and in the future."
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. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25th year in 2009. For more information, visit www.fiserv.com.
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