CHICAGO, IL, June 26, 2006 – Moneris Solutions, one of North America's largest electronic transaction processors, today announced an agreement to provide credit card processing services to Freestar Bank.
Freestar signed a three-year agreement with Moneris and will participate in Moneris' Referral Bank program. Under the agreement, Moneris offers Freestar the opportunity to provide advanced point-of-sale technologies, wireless payment processing and electronic bill payment to its business customers.
"As a bank that prides itself on exceptional personal service, our ultimate goal is to be a value-added partner to our clients," said Wanita Thompson, senior vice president of Freestar Bank. "Moneris offers the collaborative approach and unmatched expertise we need to expand our product portfolio and service our commercial customers."
The agreement is the result of a partnership between Information Technology, Inc. (ITI), a unit of Fiserv, Inc., and Moneris. "We appreciate the opportunity to join forces with ITI and provide their clients, like Freestar Bank, with a highly differentiated business model," said Kathleen A. Zydek, director of client partner services for Moneris Solutions' U.S. Group. "Freestar recognizes the need for a truly dynamic merchant services strategy and we're able to help their organization develop programs that drive new customer acquisition and cross-selling opportunities."
About Moneris Solutions
Moneris Solutions, Inc. (www.monerisusa.com) has a 30-year history as one of North America's largest electronic transaction processors, delivering advanced payment card processing capabilities through point-of-sale hardware, payment processing software, e-commerce solutions and a gift and loyalty program. Moneris provides transaction-processing services nationwide through numerous agent banks and serves the small to medium-sized business market through direct sales and strategic partnerships. A joint investment of the Royal Bank of Canada and the Bank of Montreal, which have assets in excess of $700 billion, Moneris Solutions serves more than 380,000 North American merchant locations and has a staff of over 1,100 employees. Moneris' U.S. headquarters are located outside of Chicago, IL.
Freestar Bank
Freestar Bank, headquartered in Pontiac, IL, is an independently owned community bank with assets of $ 270 million. Freestar is a leader in agricultural lending, farm management and farm record keeping services, in addition to offering commercial and consumer lending and deposit services through its seven existing locations in Pontiac, Bloomington, Gridley, Champaign and Downs, IL.
About ITI
Serving more U.S. banks and savings institutions than any other software and services vendor, ITI offers several core solutions built using service oriented architecture, including the Premier® and PCS VisionTM suites, as well as a broad range of supporting products and services, all 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
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.
For more information, please contact:
| Dave Groobert 202-296-2002 x101 dave.groobert@environics-usa.com |