Product

Fiserv® Clearing NetworkStreamlined Clearing of Transit, Receipt and Return Items

Increasing the powerful capabilities of the Fiserv Clearing Network as a low cost, easy access gateway to image exchange and check clearing services, FCN now offers your institution a simplified direct settlement model for streamlined financial settlement.

Built on the Fiserv foundation of providing outsourced item processing services to more than 1,600 financial institutions and the software to process checks for an additional 2,000 institutions, the Fiserv Clearing Network continues to be the low cost, convenient option for both inbound and outbound image exchange. Thousands of institutions large and small settle transactions through the Fiserv Clearing Network utilizing a local settlement partner, with a single account entry for both incoming and outgoing cash letters in the settlement account.

Fiserv Clearing Network (FCN) from Fiserv simplifies clearing and settlement while helping you minimize costs for inbound, outbound and return items.

Direct Settlement through the Fiserv Clearing Network

And now, with FCN, you can settle transactions directly into your Federal Reserve account or another settlement bank of your choice, by utilizing Fiserv partner, Viewpointe®, to generate settlement entries from Fiserv Clearing Network cash letter operations. The direct settlement model offers your institution standardized settlement processing for check image exchanges. Viewpointe initiates a broad range of settlement transactions to financial institutions of all sizes and supports image exchange network interoperability. Additionally, FCN will manage the technical and operational changes for your institution as the image exchange process is refined through our strategic trading partners, in order to minimize cost and maximize benefits for your institution.

Net settlement funds are placed in your institution’s account with Viewpointe providing settlement by 10:30 a.m. Eastern Time. Additionally, adjustments are posted to your settlement account with a separate Viewpointe work ID, giving you real-time Web access to the cash management site for improved funds management.

Enhanced Receipt Capabilities

Timely and predictable inbound settlement is critical to your institution’s overall financial management. In today’s business environment, you cannot afford to depend

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The FCN Advantage

• Enhancedreceiptofinclearingitemsfromallexchangepoints

• RiskreductionbyusingtheFederalReserveSystemforsettlement

• Streamlinedandconvenientadjustmentprocess

• ActualdollarsforcashletterssentandreceivedappearinyourFederalReserveaccount

• Explicitfloatmethodologymakesinvestibledollarsmorepredictableonadailybasis(controloverwheretosweepfundsforinvestment)

• RapidFiservClearingNetworkgrowthandconnectionstootherexchangesthroughstrategictradingpartners,whichreducesoverallcostofclearing

• Protectionfromclosuresandeliminationofpapertransportationprograms

• TechnicalandoperationalchangestomatchindustrychangesallhandledbyFiserv

• Guaranteedpricepointsandavailability

convenient direct settlement model with FCN. Working with settlement partner Viewpointe, FCN facilitates standardized settlement processing for image and paper check exchanges – while helping you minimize costs and maximize benefits for your institution.

Connect With UsFor more information on Fiserv Clearing Network, please contact us at 800-872-7882 or visit www.itemprocessing.fiserv.com.

on variable or unpredictable inclearing transmission schedules. Transmissions for inclearings from FCN receipt will arrive by 8:00 a.m. Eastern Time, which enables quicker funds availability for your institution. Additionally, inclearing transmission rates through FCN can eliminate fees as part of your total cost of electronic receipts versus paying for those transmissions through other comparable systems.

Efficient FCN Transit

FCN transit offers efficient forward presentment of transit items drawn on another institution, using an explicit float model for account settlement. Specifically, while your FCN agreement shows funds availability at 98 percent or 95 percent based on deadline time, you will see 100 percent passed to your account each day. At the end of the month, a float charge would be applied on your monthly invoice for the value of the funds advanced. The calculation would be based on the dollar value of the float differential at the current Federal Reserve Funds rate. Unlike other competitors, Fiserv does not charge a fee for these float settlement services.

Cost-Effective FCN Return Service

FCN return supports the effective clearing of outgoing return items utilizing cost effective electronic clearing with our strategic clearing partners.

The Intelligent Choice for Direct Settlement

Fiserv has a proven history of providing the most cost-effective and efficient item processing services in the industry. Handling billions of items per year for thousands of clients, only Fiserv has the experience to offer your institution a

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