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Cambridge Mercantile Group Partners with Fiserv to Provide Financial Institutions with Industry-Leading End-to-End Wire Transfer Services

August 23, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- Cambridge Mercantile Group, a global payment and risk management solution provider, is pleased to announce it has partnered with Fiserv, Inc., a leading global provider of financial services technology solutions, to offer financial institutions better workflow automation and efficiency to facilitate the efficient completion of their end-to-end international wire transactions.

The highly differentiated interface enables Fiserv to integrate directly to Cambridge's international payment platform that eliminates troublesome, manual processes and ensures improved compliance.

With the growing trend toward cross border transactions, financial institutions, large or small, are seeing increasing demand and pressure to efficiently and securely deliver international payment transactions. The partnership between Fiserv and Cambridge now gives financial institutions a robust and flexible solution for seamless and automated global payments.

"Fiserv provides comprehensive, integrated solutions that help clients meet unique operational, risk and revenue goals. Teaming up with Cambridge Mercantile Group is a natural step for us as we continue to serve institutions of all sizes with a superior platform that is both flexible and scalable to meet their customers' evolving needs," said Bailey Nelson, vice president, Credit Union Solutions, Fiserv.

According to the FedwireŽ Service, in 2013, $713T in transfers originated internationally. The systems required by financial institutions to facilitate and process these transactions are both complex and time consuming. These manual processes, which include printing wire instructions to accurate data entry and re-entry to comply with Fedwire Services protocol, can lead to major operational inefficiencies.

With complete visibility into all remittance records any time of day, clients of Fiserv that submit wire transfers through Cambridge Mercantile Group will be able to offer their own customers greater assurance in the success of their global transactions.

"We are keen to work with Fiserv to deliver an unparalleled customer experience and service to their customers. Our specialized financial services teams have been in the business for 100+years and this valuable insight has been applied to our interface to meet their exact needs and challenges," said Mike Rockouski, senior vice president, Financial Institutions, Cambridge Mercantile Group.

Keywords for this news article include: Financial Services, Finance and Investment, Investment and Finance.

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Source: Investment Weekly News


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