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

August 6, 2014



TORONTO, ONTARIO--(Marketwired - Aug. 6, 2014) - 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 Fedwire(R) 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.

About Cambridge Mercantile Group

Since its inception in 1992, Cambridge Mercantile Group has grown to become a leading provider of global payments and currency risk management solutions. With more than 14,000 clients worldwide, Cambridge is among the largest bank-independent providers of hedging and risk management products, powered by technologies widely regarded as industry leading. Cambridge delivers a superior level of service to clients through extensive knowledge of foreign exchange and award-winning operational capabilities, supported by an experienced trading, account management and consultative sales team. With offices strategically located across the globe, including North America, Europe and Australia, Cambridge facilitates the secure movement of over $23 billion annually. For more information, visit www.cambridgefx.com.

About Fiserv

This year, Fiserv, Inc. (NASDAQ:FISV) celebrates 30 years of leadership in financial services technology. As one of FORTUNE(R) magazine's World's Most Admired Companies, Fiserv is helping clients worldwide achieve best-in-class results by driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.

FOR FURTHER INFORMATION PLEASE CONTACT: Cambridge Mercantile GroupDanielle Crowe 416.646.6401 (ext. 2248) dcrowe@cambridgefx.comwww.cambridgefx.comMagnolia CommunicationsHanah Van Borek 604.317.5786 hanah@magnoliamc.com Source: Cambridge Mercantile Group


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Source: Marketwire (Canada)


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