STRATEGIC PARTNERS
September 8, 2004
BROOKFIELD, Wis. & SOUTH HACKENSACK, N.J. - Transaction processor Innobeta Systems, Inc., and Fiserv EFT/CNS, a unit of Fiserv, Inc. (Nasdaq: FISV), are forming a strategic alliance that will provide credit unions and community banks with easier access to ATM products and services offered by the two companies.
The agreement will give Innobeta customers access to a full range of transaction solutions by allowing Innobeta to resell Fiserv services, said Eric Park, Innobeta's chief executive officer.
In addition, Fiserv will gain increased front-end access to smaller deployers and ISOs, said Grant Christenson, chief executive officer of Fiserv EFT/CNS.
"Our relationship with Innobeta ensures their community bank and credit union customers have one-stop access to the product and service solutions they need to compete effectively against larger competitors," Christenson said.
Under the agreement, 3,000 ATMs run by Innobeta will join ACCEL/Exchange, Fiserv's electronic funds transfer network.
"This agreement means three things to our credit union and community bank customers," said Innobeta's Park. "First, institutions that own ATM terminals driven by Innobeta can receive card authorization processing, card production and ATM processing -- all from a single source. Second, Fiserv will be able to offer pre-paid media services -- like money transfer, long-distance calling plans or prepaid cellular service -- to their clients through Innobeta. And, third, Fiserv will be able to certify Innobeta's Nextran-brand terminals one time for multiple Fiserv processors."
