ARP/SMS from Fiserv is available in three outsourced models including hosted services, in which the technology is hosted at a Fiserv data center; application service provider (ASP) Service, where Fiserv runs the application on its software platform.
The third model is business process outsourcing (BPO), in which the technology firm hosts and runs all aspects of account reconciliation and positive pay services, such as exception handling and other back office functions.
Financial organizations can now provide treasury management services without escalating the costs associated with buying and maintaining systems and move to a more predictable, volume-based cost model for these technologies.
Fiserv treasury operation solutions senior account executive Tom Jackson said, "The outsourcing option allows financial institutions to add valuable, revenue-producing services quickly and cost effectively while improving service to their customers."
Being used by more than 40 of 100 major banks in the US, ARP/SMS platform is designed to reduce exposure to cheque fraud and streamline back-office operations.
Allowing corporate clients to gain strict control over disbursements, the new automated, online reconciliation system allows immediate correction and updating of transactions as well as files and reports for real-time positive pay reporting.
The company offers an array of technology services to the financial services industry, for bringing modernization in payments, processing services, risk and compliance, customer and channel management.
