fiserv inc (FISV) Key Developments
Fiserv, Inc. Announces Amendments to its Articles of Incorporation
Dec 3 13
On November 27, 2013, Fiserv, Inc. filed with the Wisconsin Department of Financial Institutions an amendment to the Corporation’s Restated Articles of Incorporation that, effective at the close of business on December 2, 2013, changed each share of common stock, $0.01 par value, of the Corporation outstanding or held in treasury into two shares of Common Stock to effect a two-for-one split of the Common Stock and increased the Corporation’s authorized shares of Common Stock from 450,000,000 to 900,000,000. In connection with the two-for-one stock split, on the record date, each share of common stock outstanding or held in treasury immediately prior to the record date was changed into two shares of common stock. Stock certificates evidencing shares of common stock outstanding or held in treasury on the record date will continue to evidence the same number of shares that such certificates evidenced prior to the record date, and the additional shares will be evidenced in book-entry form only, without stock certificates, on December 16, 2013 to persons who were at the record date the holders of common stock. On November 27, 2013, the Corporation filed a certificate with the WDFI stating that none of the authorized shares of the Series A Junior Participating Preferred Stock are outstanding and that no such shares will be issued, which certificate eliminated from the Articles all matters set in the Articles of Amendment relating to the Series A Preferred Stock.
Fiserv, Inc. Unveils Frontier(TM) Reconciliation
Dec 3 13
Fiserv, Inc. unveiled Frontier(TM) Reconciliation: Account Certification, its latest offering to ensure timely completion of the reconciliation process and increase control and transparency through the automated escalation of exceptions. Part of the latest release of Frontier Reconciliation, the new Account Certification module fully automates the preparation, review and approval of all operational and balance sheet reconciliations across any account type within a single, integrated platform. The module improves the period-end financial close process by offering clear ownership and tracking of review and approval tasks with the ability to segregate duties by role or access level. The addition of the Account Certification module to Frontier Reconciliation means that all stages of operational, financial and balance sheet reconciliations can be performed within the same application. This makes it the only solution available that offers complex, high-volume transaction matching, exception management, and the review and approval process required to certify reconciliations all in one seamless environment. By using Frontier Reconciliation: Account Certification management now has an unprecedented view of the entire process and can attest to the accuracy of the balance sheet. Particularly important is the fact that it enables organizations to quantify their exposure consistently and accurately. Other key benefits include: enhanced reporting capabilities that can provide real-time status information on certification activities and ensure high risk exposures are prioritized, escalated and quickly addressed. Straightforward configuration and a unique level of self-sufficiency that means clients can meet the changing needs of their business quickly and efficiently without having to use in-house technical resources. Multiple levels of reporting, including real-time interactive reporting, point-in-time snapshot reporting and high series analysis /performance management reporting. Ability to scale from departmental to enterprise "center of excellence" model allowing institutions of any size to use.
Nine Financial Institutions Select Cleartouch Bank Platform from Fiserv
Nov 28 13
Fiserv, Inc. has announced that nine financial institutions have selected the Cleartouch bank platform from Fiserv for account processing, citing real-time transaction capabilities, a conversion experience and integration with other Fiserv banking solutions as key to their selection. Additionally, the bank added the following to its Fiserv solution set: Retail Online for online banking, Mobiliti for mobile banking, Popmoney for person to person payments, CheckFree RXP for bill payment, AML Manager and Fraud Risk Manager for risk mitigation, Branch Source Capture and Teller Source Capture for image capture, Nautilus for enterprise content management, Prologue for financial management, Construction Loan Manager, iVue for business intelligence and Teller and New Accounts for Cleartouch for front-line transaction processing, plus solutions for A and Debit Processing.
Fiserv, Inc. Releases TradeFlow for Linux to Help Greater Number of Financial Institutions Reduce Cost of Post-Trade Processing
Nov 25 13
Fiserv, Inc. announced that its multi-asset post-trade processing solution, TradeFlow(TM), is now available for financial institutions operating on Red Hat(R) Enterprise Linux(R). TradeFlow for Linux is designed to meet the demand from wealth managers for secure and scalable financial solutions designed for an open source technology stack. TradeFlow for Linux allows wealth managers to minimize trading risks, reduce operating costs and enhance efficiency across a number of post-trade activities, including trade capture, data enrichment and management, confirmation and affirmation, as well as settlement and clearing. The solution integrates support for central counterparty clearing of OTC derivatives through MarkitSERV, and facilitates the automated import of Standing Settlement Instructions from Omgeo ALERT.
Fiserv, Inc. Announces Availability of New Version of TradeFlow with Integrated Global Support for Central Counterparty Clearing
Nov 18 13
Fiserv, Inc. announced the availability of the newest version of TradeFlow(TM), its multi-asset post-trade processing solution for institutional asset management firms. Integrating functionalities from MarkitSERV, TradeFlow now delivers an automated OTC clearing sequence which streamlines communications between financial firms and multiple clearing counterparties. In this new version of TradeFlow, MarkitSERV provides integrated connectivity to more than 100 executing brokers and 14 central counterparties worldwide via MarkitSERV Trade Manager, a buy-side service for managing and viewing trade matching, allocation delivery, clearing notifications and trade disputes. Eligible OTC trade data is routed to MarkitSERV Trade Manager using standard data feeds -- including Financial Products Markup Language (FpML) and Comma-Separated Values (CSV). Status updates from MarkitSERV Trade Manager are displayed in the user interface of TradeFlow. If required, these updates can also be forwarded back to the user's order management and back-office systems. TradeFlow has been designed to be easily adapted to future market and regulatory changes in the OTC space. As newer clearing requirements for OTC derivatives take effect in the U.S. and abroad, TradeFlow will be continuously enhanced to support additional OTC clearing through MarkitSERV.