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Valero Energy Corporation Selects Cash Management Solutions from Fiserv for its Retail Stores

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Valero Retail Holdings, Inc., a subsidiary of Valero Energy Corporation, has selected the CorPoint(TM): Deposit Manager cash management solution for use in the company's North American retail stores. By using CorPoint: Deposit Manager from Fiserv, Valero will be able to deploy an armored-carrier agnostic remote cash capture solution and select smart-safe hardware devices that best meet the needs of its retail stores.

"Valero, a Fortune 500 international fuel manufacturer, had previously been using a fragmented remote cash capture solution and had outgrown its armored carrier solution," said Brian Jorgenson, vice president of Operations, Cash and Logistics, Fiserv. "It needed a cost-effective, automated solution for easy implementation across its retail stores nationwide. Through CorPoint: Deposit Manager, Fiserv is able to provide that."

CorPoint from Fiserv will provide Valero near real-time information delivered from smart safes in Valero retail stores to the company's central site to ensure consistent accounting and bank reconciliation procedures are maintained. Since the Fiserv remote cash capture solution is armored-carrier agnostic, Valero can choose the most cost effective armored carrier provider, while still maintaining use of consistent smart-safe manufacturers.