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Fiserv Inc. (Nasdaq: FISV) announced that its Information Technology Inc. (ITI) business unit has integrated Acxiom Insight Identify into its Premier(R) Platform account opening software, arming new accounts staff with technology that offers access to unmatched data and analytic resources. Developed by Acxiom Insight, the risk mitigation division of Acxiom(R) Corporation (Nasdaq: ACXM), Insight Identify also reduces human error, enhances compliance with regulatory customer identification requirements and decreases identity theft.
"Losses stemming from fraudulent activity are painful enough for bankers without having to pay regulatory penalties resulting from error and noncompliance," said Bob Michaud, ITI senior vice president and general manager of the company's Branch Automation operating unit. "This solution eases both those financial risks by helping to eliminate human error when verifying identification and by lowering risk through a refined screening process."
Insight Identify instantly cross-references applicant information, such as name, address and Social Security number, against Acxiom's extensive consumer data. The program enables a second-level risk assessment by searching additional databases where risk elements exist, including liens, bankruptcies, judgments, property and criminal records.
"We're pleased to have the opportunity to assist ITI clients in their fight against one of America's fastest-growing crimes," said Acxiom Insight CEO Ron Fournet. "Identity theft has become a front page concern for Americans in recent years and Insight Identify, with its superior data and analytics, is the most sophisticated anti-identity theft technology available today."
Insight Identify also meets the requirements for an effective customer identification program to ensure compliance with the USA Patriot Act and similar regulations.
About Acxiom Corporation
Acxiom Insight is the risk mitigation division of Acxiom Corporation (Nasdaq: ACXM). Its mission is to help Americans protect themselves, their businesses and their communities from risk through advanced information-based solutions. Acxiom Corporation integrates data, services and technology to create and deliver customer and information management solutions for many of the largest, most-respected companies in the world. Founded in 1969, Acxiom is headquartered in Little Rock, Ark., with locations throughout the United States and Europe, and in Australia and China. For more information, visit Acxiom.com.
About Fiserv ITI
Serving more U.S. banks and savings institutions than any other software and services vendor, ITI offers several core solutions, including the service oriented architecture-based Premier(R) and PCS Vision(TM) suites and a broad range of supporting products and services available on the nation's most popular IBM and Unisys hardware platforms for in-house and outsourced account processing. Founded in 1976, ITI works closely with some of the best-known technology companies in the world and has grown to incorporate businesses and offices nationwide, including its Premier, Precision Computer Systems (PCS), Branch Automation, eSolutions, Digital Solutions, Decision Metrics and Professional Services operating units. A subsidiary of Fiserv Inc., ITI can be found on the Internet at www.itiwnet.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 (BPO), 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.
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