âFiserv has invested significantly in moving the industry toward full check electronification,â said Tom Warsop, Fiserv group president for financial institutions. âBy partnering with key industry players such as Viewpointe and Bank of America, and establishing the Fiserv Clearing Network, we can expand our image and clearing services between thousands of our bank clients and other large volume banks.â
Fiserv and Viewpointe worked together to develop technology and infrastructure that integrates Viewpointeâs Pointe2PointeTM solution, one of the most efficient and secure methods of check image exchange available today with the Fiserv Clearing Network, a fast-growing, cost efficient single source check clearing offering.
âPartnering with critical aggregators like Fiserv not only expands Bank of Americaâs industry leading check image clearing capability, but also dramatically broadens the image exchange landscape for the financial services industry,â said John Feldman, image and electronic payment services executive at Bank of America. âViewpointe is a key partner in our efforts to greatly improve our efficiencies and is committed to bringing exchange partners together for further industry interoperability.â
Viewpointeâs Pointe2Pointe solution helps financial organizations take a strategic step toward dramatically reducing the financial and logistical burdens associated with processing paper-based checks, and is one of the most cost-effective methods to get started with electronic image exchange.
Fiserv Clearing Network is growing quickly as clients realize the immediate benefits of reducing costs for clearing, couriers, adjustments and cash letter fees, while improving float. Adding Bank of America leverages Fiservâs aggregated volume across its hierarchy of all possible exchange endpoints, to achieve this industry leading solution.
Viewpointe chief executive officer Lou Buglioli explained, âThis electronic exchange relationship between two important financial technology providers, Fiserv and Viewpointe, and Bank of America is a win for all three and the industry as a whole. By combining massive image volumes and growing our reach to even more endpoints, weâre continuously increasing the value of electronic image exchange exponentially.â