Fiserv CBS Worldwide, unit of Fiserv, Inc. (Nasdaq: FISV), today announced that Banco Ahorro Famsa, the new banking unit of one of Mexico’s largest furniture and appliance retailers Grupo Famsa S.A. de C.V., has selected Fiserv CBS Worldwide’s International Comprehensive Banking System (ICBS) as its core banking solution.
Fiserv ICBS was selected, after a competitive process supervised by third-party consultants that involved several global core banking vendors, for its functionality, ease of integration, growth capabilities, proven implementation methodologies, strong track record of delivery and exceptionally strong client reference base. Fiserv ICBS will provide powerful support for Banco Ahorro Famsa through its scalability and functionality enabling seamless straight-through processing.
“Originally, we set out to find a universal banking solution, but found the deep functionality in ICBS more closely matched our retail banking requirements,” said Francisco J.Patiño, president of Banco Ahorro Famsa. “In addition, Fiserv has a strong, proven track record for delivery and support. Banco Ahorro Famsa has aggressive growth plans and it is important that we have a partner that can deliver with products that can scale.”
Banco Ahorro Famsa anticipates national coverage by the end of 2007. Fiserv ICBS is expected to process more than 3 million accounts and support more than 2,000 users across the bank’s network. Fiserv will also provide the bank with treasury, anti-money laundering and risk management functionality.
“We are committed to helping Banco Ahorro Famsa achieve all their objectives with our solutions, services and support. Famsa has a long tradition of success and we are proud to have been selected as such an important partner,” said Dan Alf, managing director of Latin America, Canada and the Caribbean for Fiserv CBS Worldwide. “This is our third ICBS win in Mexico in 12 months and proves that Fiserv has the experience and market knowledge to meet the needs of Mexican banks and credit unions looking for a flexible, real-time core processing solution.”
The new bank branches, which will be located inside all the Famsa stores beginning in the city of Torreón, will offer a wide range of products, including deposits, consumer, personal and commercial loans and credit cards. These banking products will complement other services and delivery channels already offered by Famsa.
About Banco Ahorro Famsa
Banco Ahorro Famsa is the new banking unit of one of Mexico’s largest furniture and appliance retailers Grupo Famsa S.A. de C.V. with operations supported through 333 stores located in 20 Mexican states and the U.S.A. Grupo Famsa S.A. de C.V., headquartered in Monterrey, Mexico, has US$1 billion in assets and is a pioneer in the implementation and administration of credit systems, which has increased their customer base and their clients’ purchasing power resulting in a profitable loan portfolio.For more information please visit www.grupofamsa.com.
About Fiserv CBS Worldwide
Fiserv CBS Worldwide is a unit of Fiserv, Inc. (Nasdaq: FISV).Fiserv CBS Worldwide delivers end-to-end business and technology solutions for retail financial organizations, consumer finance institutions and credit unions throughout Europe, Asia-Pacific, Latin America, the Caribbean, Canada and the United States.Through its offices in the U.S. the United Kingdom, Poland, Singapore, Australia, China, Indonesia, Colombia and Costa Rica, Fiserv CBS Worldwide enables almost 300 financial institutions to deliver integrated solutions for managing the entire customer lifecycle from core banking to multi-channel customer contact and data warehousing. Fiserv CBS Worldwide can be found on the Internet at www.fiservcbs.com.
About Fiserv, Inc.
Fiserv, Inc. (Nasdaq: FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing, software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.
