BROOKFIELD, Wis.–Fiserv, Inc. a provider of financial services technology solutions, announced that 16 financial institutions have chosen Biller Advantage from Fiserv. This includes multiple top 25 banks as well as community banks and credit unions. Biller Advantage has two key applications for financial institutions. It is a comprehensive solution for financial institutions to manage electronic billing, payment and presentment (EBPP) for situations in which the financial institution sends bills and collects payments, such as for loans. Financial institutions can also offer the solution to their business customers so that those customers can send bills and accept payments electronically.
In addition, Fiserv said financial institutions can use Biller Advantage to enable their business customers to present electronic bills (e-bills) to customers at the business’website or through the more than 4,000 financial institutions that are part of the eBill Distribution™ network from Fiserv. Electronic payments can be accepted through multiple channels including online, mobile, automated phone system (IVR) and customer-assisted phone system (CSR).
“Consumers require financial services that fit seamlessly into the rhythm of their lives, providing money movement at the point of thought,” said Rahul Gupta, group president, Billing and Payments Group, Fiserv. “Financial institutions that provide convenient billing and payment capabilities, which includes offering EBPP services to their business customers, will position themselves to meet today’s customers’ fast paced expectations.”
Separately, Fiserv said it has partnered with InvestEdge, based in Bala Cynwyd, Penn., to deliver access to an array of data management and customized reporting solutions to advisory firms and investors that run managed account portfolios on the Unified Wealth Platform from Fiserv. The Unified Wealth Platform will seamlessly integrate InvestEdge capabilities to enable a real-time display of client account data on the platform, customized reports and access to an intuitive investor portal, the company said.
Increasing Demand
“There has been an increasing demand from our clients for new technology solutions that can keep pace with investor demand for greater transparency and frequency of account data and performance,” said Cheryl Nash, president, Investment Services, Fiserv. “Wealth advisors must have easy and immediate access to information about their customers to provide advice at the point of thought, and our partnership with InvestEdge makes this possible.”
Fiserv said the partnership will enhance reporting capabilities for its clients by offering a robust suite of over 40 fully customizable report options. In addition, the investor portal will allow advisors to better interact with their clients via new messaging and e-statement report delivery.
InvestEdge provides investment firms with wealth management technology solutions such as management, measurement and reporting of assets that allow broker-dealers and money managers to grow their business and enhance the client experience. InvestEdge is the recipient of two industry awards in 2015 from Family Wealth Report and PAM Magazine.