IBM to Provide Support to Fiserv in 12-Year Services Contract

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SYDNEY, AUSTRALIA - 09 Jun 2005: IBM Global Services has announced it has signed a 12-year IT services contract to support Fiserv, Inc. in its groundbreaking check processing agreement with three of Australia's four largest banks. Fiserv is a leading provider of data and check processing services in the U.S. Implementation work for the contract, worth about US$38 million, has already begun.

Fiserv is providing check processing services to VIPRO, a consortium of banks. The Commonwealth Bank of Australia, National Australia Bank and Westpac are currently members. Financial institutions using the service will be able to manage the costs of check processing more effectively, without making additional capital investments.

IBM Global Services will provide Fiserv with a full range of IT services, covering infrastructure, networks and desktop PCs, as well as application development and management. In addition, IBM will provide e-business hosting services from IBM data centers.

Ken True, CEO of Fiserv Solutions of Australia, said, "We believed it was important to leverage IBM's existing infrastructure rather than create something from scratch. IBM is an important partner to us as we do our part to help transform the Australian payments industry."

"By working with Fiserv, IBM can provide a complete solution to meet the specific needs of the Australian financial services sector," said Rob Lee, strategic outsourcing services executive, IBM Global Services. "IBM is helping Fiserv to create a new operating model for efficiently processing basic, yet essential, financial transactions," he added.

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