28 Aug Fiserv MyMoney Banking Application Wins Award for Online Innovation
BROOKFIELD, Wis., Aug 28, 2008 (BUSINESS WIRE) – Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, announced that its MyMoneyTM convenience banking application on Facebook(R) Platform has won The Banker Technology Awards 2008 Retail Award for Online Innovation. Now in its sixth year, The Banker Technology Awards seeks to identify and celebrate excellence and innovation in all areas of banking technology. Sponsored by The Banker magazine, the awards are presided over by a panel of respected industry experts, including practitioners and analysts.
MyMoney is an innovative banking application built on Facebook Platform, a development system that enables companies and developers to build applications for the Facebook website, where all of Facebook’s 100 million users can interact with them.Recognizing the popularity of Facebook among Gen Y consumers, who are desirable prospects for many credit unions, Fiserv developed MyMoney to enable Facebook users to search for and join a credit union and manage their funds via the familiar Facebook interface.Using MyMoney, they can view account balances, history and transfer funds right from their Facebook profile, with multiple layers of security protecting their data and accounts. Developed to reach younger members and potential members where they spend time online, MyMoney is equally beneficial for any Facebook user, regardless of age.
MyMoney also leverages Facebook’s viral marketing opportunities. When Facebook users add MyMoney to their profile, their friends are notified and given the opportunity to add it too, enabling financial institutions to extend their reach, particularly within the Gen Y market.
“Fiserv is pleased to have our MyMoney application honored as a recipient of The Banker Technology Awards 2008,” said Tom Neill, president, Fiserv Depository Institutions Group. “At a time when financial institutions are competing to gain the wallet share of Gen Y consumers, Fiserv’s MyMoney can serve as a strong differentiator, making it easy to reach this growing market through the increasingly popular vehicle of Facebook. The MyMoney application and our receipt of this award underscore the technology leadership position of Fiserv in the financial services industry.”
MyMoney, which launched in February 2008 with about 40 credit unions, is now being sold through all of the Fiserv credit union companies.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company 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 2004, 2005 and 2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007. For more information, please visit www.fiserv.com.
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