Fiserv Announces Agreement with Reserve Solutions to Provide Bankcard Accessibility for...

Business Editors

ORLANDO, Fla.--(BUSINESS WIRE)--Oct. 15, 2003

Fiserv, Inc. (Nasdaq:FISV) announced that Reserve Solutions, Inc., a developer of products and loan solutions for financial service providers, will use the Fiserv PLUS(TM) management processing system to help with

Reserve Solutions offers two products, the ReservePlus Loan Program and the ReserveAdvantage Program. ReservePlus is a plan participant loan program that allows retirement plan administrators to reduce their loan administration costs, maintain existing loan revenue streams and increase overall plan participation within 401(k), 403(b), and 457 defined benefit plans.

ReserveAdvantage is a low-cost, home equity line processing program that enables banks and credit unions to offer an efficient, innovative loan option to their clients. ReserveAdvantage provides financial institutions and lenders a cost-effective turnkey product offering for the $5,000 to $25,000 home equity market. ReserveAdvantage reduces the lender's back office administration while dramatically improving approval/response times, resulting in increased profitability and customer satisfaction.

Max Narro, President of Fiserv Credit Processing Services, said the collaboration will enable Reserve Solutions to provide its business partners with the ability to offer innovative turnkey financial loan solutions.

"By providing Reserve Solutions with back office support and customization, we are giving them the ability to focus on delivering innovative loan products to their clients, knowing that Fiserv has the flexibility to meet their needs down the road," Narro said.

Mark Vernaglia, President of Reserve Solutions, said Reserve Solutions chose Fiserv - after an extensive search - based on the unique nature of Reserve Solutions' products and the expertise of Fiserv in co-branding cards.

"We needed a company that had the ability to customize some of the current bankcard industry processing systems to provide a total solution to our clients," he said. "By choosing Fiserv, we're able to customize the statements and programming, as well as to outsource many of our back office operations to Fiserv as we expand the relationship beyond process management."