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Leagues partner to help manage third-party relationships

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RANCHO CUCAMONGA, Calif. (2/24/09)--The California and Nevada Credit Union Leagues have partnered with Montana-based Digital Compliance LLC to assist credit unions in mitigating risk and reducing cost when dealing with their third-party relationships or vendors. “We chose Digital Compliance as a business partner partly because its services help meet one of the greatest needs of our member credit unions--information security,” said Sylvia Fath, leagues’ senior vice president of business services. “Its Vendor Compliance Management Solution is more than a software program or repository,” Fath added. “It takes the burden from the credit union of requesting, receiving, documenting, digitizing, updating, and reporting complete due diligence and compliance documentation for all of its outsourced relationships.” As part of the solution, Digital Compliance will provide these services for the leagues’ member credit unions:
* Assist in the risk classification of outsourced relationships; * Identify specific information the credit union should get from its outsourced relationships; * Request, receive, review, report, maintain and update information from each relationship; * Provide practical reports and a document guide to assist in review; and * Maintain a secure, centralized access with update notifications.
The leagues and Digital Compliance will kick off the partnership with a webinar in March followed by compliance education workshops in April, June and September. Digital Compliance provides financial institutions and their vendors with an exchange of current due diligence and compliance documentation.

Fiserv unifies brands into single identity

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BROOKFIELD, Wis. (2/24/09)--As of Monday, all of Fiserv’s solutions are under a new brand, and some offerings have been renamed. Fiserv is a global provider of financial services technology solutions. “Starting today [Monday], we will be known as Fiserv and only Fiserv,” said Alicia Bell, Fiserv director of Communications. “We will no longer refer to our business strategy as CU7. And the legacy business unit names of AFTECH, CUSA, Galaxy, IntegraSys, Summit, USERS, and XP Systems will no longer be used.” The company’s innovations include:
* Source Capture Solutions, a suite of solutions that enable electronification of all sources of deposits; * Corillian Online (formerly Online Advantage), a next-generation platform for online personal financial management; * Mobile Money, a mobile banking solution that supports all mobile access protocols; * MyMoney, a solution that leverages social networking technology to connect consumers with financial institutions; * Business Analytics for Premier (formerly Viewpoint), a solution that enables proactive business intelligence practices as part of Fiserv’s Premier banking solution; and * Bank Intelligence Solutions (formerly BancIntelligence), online advisory tools that aid financial institutions in decision-making.
The company’s organizational structure has been aligned to streamline Fiserv’s market approach, accelerate product innovation and make it easier for clients to access all Fiserv solutions. All of the company’s businesses have been unified under the new brand and report through two primary operating divisions led by Steve Olsen, former CheckFree chief operating officer and now Fiserv group president, and Tom Warsop, Fiserv group president. The structure will allow further integration of client-relationship management and product-development efforts. According to Fiserv President/CEO Jeffery Yabuki, Fiserv is preparing “for a new digital frontier in banking and electronic commerce that will require unprecedented levels of data analytics and information exchange across the entire spectrum of banking solutions.” The new identity is on display at the Credit Union National Association’s Government Affairs Conference in Washington, D.C., and at BAI TransPay in San Diego. The company also launched a global advertising campaign Monday with new ads appearing in national business, banking trades and local publications.