Fiserv Announces Bank of America and CheckFree Extend Their Strategic Relationship
CheckFree, now part of Fiserv, will continue to provide Bank of America with online consumer bill payment services through 2013
BROOKFIELD, Wis.--(www.AllPayNews.com)--April 30, 2008--Fiserv, Inc. (NASDAQ:FISV), a leading provider of technology services to the financial industry, today announced that Bank of America (NYSE:BAC) has renewed its multi-year strategic vendor relationship with CheckFree.
"Bank of America remains among our most valued customers and the bank's commitment to the online channel is a driver for everyone here who supports this relationship," said Steve Olsen, Fiserv group president, Internet Banking and Electronic Payments. "We look forward to working with the bank in continuing to take online banking and bill pay to the next level in the coming years."
The new agreement between the parties includes higher technology and customer support levels for Bank of America's market-leading online consumer bill payment service. Specific terms of the amended agreement, which dates back to December 2003, were not disclosed.
"Bank of America and CheckFree are committed to continuing to provide our customers with secure, error-free bill pay capabilities online, anytime, anywhere," said Lance Drummond, Bank of America eCommerce/ATM executive.
Bank of America is the leading online bank, with more than 24 million active online customers and 12 million active bill pay customers.
About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 18,500 ATMs and award-winning online banking with nearly 25 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE:BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ:FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. 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 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. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007. For more information, please visit www.fiserv.com.
CheckFree, now part of Fiserv
Judy DeRango Wicks, 678-375-1595
Vice President, Corporate Communications
Bank of America
Betty Riess, 415-622-6397
Senior Vice President, Media Relations
Lori Stafford, 262-879-5130
Assistant Vice President Corp. External Comm.
SOURCE: Fiserv, Inc.