Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that BBVA Compass has renewed its contract for CheckFree(R) RXP(R). The agreement enables BBVA Compass, a Sunbelt-based financial institution that ranks as the fifteenth largest U.S. commercial bank based on deposit market share, to continue to provide both consumer and small business customers with user-friendly online billing and payment services. BBVA Compass will also continue to utilize FraudNet(TM) from Fiserv, an automated fraud detection system that mitigates the risk of fraudulent online transactions.
"The online channel has become the foundation of many customers' relationships within the banking industry, and that makes providing comprehensive, secure and intuitive online banking and bill payment a priority," said Andy Hernandez, executive vice president and director, Channel Development, BBVA Compass. "Fiserv sets the standard for online banking and bill payment, delivering timely, well-designed functionalities that enable us to provide our customers a premier experience."
More than 80 percent of BBVA Compass customers who opened a new account in 2009 enrolled in CompassPC(R) Online Banking, and the majority of those customers also enrolled in online bill payment.
"Fiserv has a long-standing history of delivering best-in-class technologies for BBVA Compass as the banking franchise has grown and expanded into seven states," said Todd Lesher, division president, Electronic Banking Services, Fiserv. "By extending the contract for CheckFree RXP, BBVA Compass further strengthens its online channel, and reinforces its commitment to its customers, knowing Fiserv solutions will continue to evolve along with the industry for years to come."
According to an October 2009 Aite Group report, Fiserv supports online bill payment services for 76 percent of the consumers who pay bills online through their financial institution, and delivers 93 percent of the electronic bills received through the online banking channel.
Fiserv continues to enhance CheckFree RXP, based on extensive consumer research and usability testing, to help companies like BBVA Compass grow their online user base. CheckFree RXP is updated through "Feature Packs," regularly scheduled additions that automatically ensure the Fiserv network of financial institutions and their customers have immediate access to the most up-to-date online payment tools. The latest enhancements include: a bill pay "widget" that enables customers to schedule a payment directly from the online banking homepage rather than visiting a dedicated bill payment page, streamlined activation of electronic bills, and a person-to-person payment option.