Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today unveiled Frontier(TM): Case Manager, a next generation case management solution. The solution automatically identifies, assesses and prioritizes potential reconciliation exceptions, trade breaks and other process failures in a real-time, straight-through manner.
By adding the case manager functionality to its Frontier solution, clients will be able to fully automate the processing and escalation of exceptions - leading to dramatic improvements in efficiency and audit control.
Frontier: Case Manager has been specifically designed to address market requirements for easy implementation and low total cost of ownership, attributes that competitive offerings often fail to deliver. Leveraging Microsoft(R) Visio(R), the solution enables non-technical users to define workflow processes thus removing the need for programming and eliminating reliance on the software provider to add or change flows as their business grows and evolves. Frontier: Case Manager also utilizes a service-oriented architecture, which can be easily integrated with other systems.
The solution helps organizations increase efficiency, enable compliance and mitigate risk by establishing and enforcing a structured process for exception resolution. This infrastructure eliminates the risks associated with manual exception processing through the provision of an audited repository for all exception resolution related documents, with full access controls. The adoption of Frontier: Case Manager will also reduce operational costs related to charge-backs, write-offs, failed trades and lost interest claims.
"Transaction level exceptions represent one of the most significant manifestations of risk in any organization. Exceptions handling and research is often comprised of disparate and sub-standard functions encompassing e-mail exchanges, sharing of spreadsheets, undocumented conversations and other semi-automated processes," said Nolan Gesher, senior product manager, Financial Control Solutions, Risk & Compliance, Fiserv. "Frontier: Case Manager leverages market-proven business process management technology from within Fiserv to mitigate the risk in exception management and provide our customers with a platform to drive significant operational efficiencies, ensure adherence to audit and compliance requirements and ultimately deliver superior customer service."