Fiserv CBS Worldwide, a division of the Fortune 500 company, Fiserv, Inc. (Nasdaq: FISV), announced today that its international core banking solution, ICBS, is now available on Linux. Fiserv has added ICBS-Linux to its industry-leading product suite to address the needs of the growing majority of the global financial services market.
"Fiserv continually monitors the retail banking market to ensure our solutions meet the needs of financial services institutions around the globe. Our research shows that banks and other financial institutions are now embracing the mature Linux platform for mission critical applications," said Tony Catalfano, president of Fiserv CBS Worldwide. "ICBS-Linux provides banks with a core banking solution that includes all the rich functionality and reliability they have come to expect from Fiserv. We are excited to provide another Fiserv solution that allows financial institutions to conduct their business more efficiently and profitably."
Independent research companies also point to the growing acceptance of Linux. Gartner Group recently reported that "Linux is one segment of the server operating system (OS) market that continues to offer significant opportunities for growth and cost savings on a global basis during the next five years."*
"We are seeing increased demand in certain markets for a Linux solution that is based on a proven retail banking system like ICBS from a financially strong global provider," said Catalfano.
Delivered on the IBM pSeries, ICBS-Linux offers prospects and clients an additional platform choice when selecting their enterprise core processing solution. The open- system software provides excellent networking facilities, processes data quickly and operates in a low-cost and low-maintenance environment. ICBS-Linux offers rich core banking functionality and provides tellering, customer interaction management and enterprise-wide integration through its compatibility with CBS Teller, Fiserv Aperio and CBS Communicator.
In research published in late 2005, Gartner Group concluded that from 2005 to 2010, Linux server shipments and revenue would have a cumulative annual growth rate (CAGR) of 11.7 percent and 12.2 percent, respectively, making Linux the fastest growing server operating system in terms of revenue and shipments.
ICBS-Linux is available through Fiserv CBS Worldwide offices globally.
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 USA, UK, 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 http://www.fiservcbs.com/.
About Fiserv
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.
*Gartner figures retrieved from Linux Making Strong Inroads in Server Market, April 2005.
