Fiserv Expands Foreign Currency Exchange Solution, Adds Partners

Fiserv, Inc., a leading global provider of financial services technology solutions, announced that the expansion of its real-time domestic and international foreign wire exchange solution, WireXchange.

WireXchange from Fiserv is adding two foreign exchange partners: Cambridge Mercantile Group and PNC Bank, N.A. With its current partners Western Union Business Solutions and others, WireXchange now provides more choices to financial institutions looking for a foreign currency exchange solution.

“Foreign wire transfers can be challenging for many financial institutions. At Fiserv, we understand and have made the process as simple and as automated as possible,” said Bailey Nelson, vice president, Credit Union Solutions, Fiserv. “We have more than 600 active clients on WireXchange and are seeing record transaction volumes. With our new partners, WireXchange clients have access to a flexible, fully-integrated solution that helps them increase operational efficiency, increase revenue, and reduce risk.”

WireXchange is a browser-based solution that is integrated with Fiserv credit union and bank account processing platforms and automates the wire transfer process. Features include one-step wire entry, verification, OFAC screening, posting to the integrated host system, delivery to the Federal Reserve and automated notification to customers.