Solution delivers flexibility and control to support complexity and scale in billing process.
 

 

Corporate One Federal Credit Union Streamlines Client Billing and Revenue Management Processes with CheckFree Advantage Fee™ Solution

Brookfield, Wis., January 21, 2009 — CheckFree, now part of Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, today announced that Corporate One Federal Credit Union, a financial services provider to more than 800 of America’s credit unions, has selected CheckFree Advantage Fee™ to enable accurate and flexible client billing and revenue management.
 
Corporate One has been using a semi-automated, in-house developed system to manage its complex billing processes, which deal with a variety of products and services across its diverse customer base. To gain a wider operational view of its revenue collection processes and prevent revenue leakage, Corporate One has selected CheckFree Advantage Fee™ to optimize its fee billing operation. The highly scalable solution enables transparency of client billing by ensuring accurately calculated fees for services including Automated Teller Machine (ATM), Check 21, Automated Clearing House (ACH) and Automated Capture and Exchange (ACE) transactions are presented clearly and concisely. By streamlining its fee billing activities, Corporate One can exercise better control over its revenue management processes with fewer resources and shorten the billing cycle to enable faster and more accurate fee collection.
 
Robert Hurst, manager of Financial Planning and Analysis, Corporate One Federal Credit Union, said, “Greater operational control and invoice accuracy is of utmost importance to our business. To ensure our revenue management processes are optimized we needed a flexible solution that could provide the level of support necessary for our complex fee structures and diverse range of client services. CheckFree Advantage Fee clearly stood out because of its easy to use interface and comprehensive audit capabilities to meet our business needs. Initially, we will have more than 15 people using the new solution at our headquarters in Columbus, Ohio. We are confident that CheckFree Advantage Fee will meet all of our billing requirements.”
 
Transparent fee billing and positive cash flow are increasingly important to all organizations to help prevent revenue leakage. CheckFree Advantage Fee can streamline this process by managing the entire fee and revenue management process through to receipt of payment. CheckFree Advantage Fee’s comprehensive revenue management controls are designed to allow users to monitor and track operational issues and respond rapidly to changes.
 
“The growing complexity of fee billing as well as increased security of data and audit issues has meant that a single, flexible fee-billing platform is a fundamental requirement to efficiently manage client billing processes,” said Geoff Harries, vice president, product strategy, CheckFree Investment Services Software, now part of Fiserv. “Disparate billing operations and continued reliance on manual procedures make it increasingly difficult to audit revenue management processes and maintain an optimum level of operational control.”
 
About Corporate One Federal Credit Union
Corporate One Federal Credit Union is a leading wholesale financial services provider to more than 800 of America’s credit unions. With more than $5.2 billion in assets under management, Corporate One offers correspondent services including ATM/debit cards, share draft imaging, and depository and electronic payment services to credit unions in Ohio, Indiana, Kentucky, and West Virginia, as well as investment solutions to credit unions across the United States. Corporate One also developed and manages Alliance One, one of the nation’s largest non-network-specific ATM selective-surcharging groups. For more information, visit www.corporateone.coop.
 
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial industry. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company is the leading provider of account processing solutions for U.S. banks, credit unions and thrifts with more than 6,000 clients worldwide. InformationWeek magazine selected Fiserv as the top ranked company in the Banking and FinancialServices category, and chose Fiserv No.4 overall on the 2008 InformationWeek 500. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2008, 2006, 2005 and 2004 FinTech 100 surveys. For more information, please visit www.fiserv.com.
 
For more information contact:
Irene Mulkeen
Director, Marketing Programs
CheckFree, now part of Fiserv
+44 (0) 845 013 1200
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Fiserv Corporate Contact:
Lori Stafford-Thomas
Assistant Vice President Corp. External Comm.
Fiserv, Inc.
262-879-5130
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