Fiserv to Provide Online Training on Check 21 through its RegEd Compliance Services Unit

Business Wire, Sept 7, 2004

BROOKFIELD, Wis. -- Fiserv, Inc. (Nasdaq:FISV) said it has launched a Check 21 online training program through its RegEd regulatory compliance unit to help financial institutions cope with the new law.

Check 21, a law designed to encourage innovation in check clearing, will be implemented beginning on Oct. 28, 2004. At that time, financial institutions will be required to accept substitute checks - essentially documents produced from images of the actual checks. In addition, they will be required to educate their staffs on various aspects of the law, and to notify customers of the changes.

Fiserv, the nation's leading supplier of outsourced and in-house solutions for check processing, earlier announced that it would offer educational materials to financial institutions to help deal with Check 21.

"We believe education is a vital component of our already substantial solution for Check 21 and the future of check processing," said Norm Balthasar, Fiserv Chief Operating Officer. "We're fortunate to have one of the financial services industry's premier education resources as a part of Fiserv, so Check 21 education can easily be included in a financial institution's overall relationship with our company."

RegEd will offer two courses - operations team training and customer service and teller training. The operations team training course will look at the purpose, legal responsibilities and requirements of Check 21, focusing on such specifics as the benefits and uses of substitute checks and the expedited recredit provision. The other course will offer advice on how to explain Check 21 to customers and also will examine the new law's effects on financial institutions and the overall industry. More information is available on the RegEd Web site at www.RegEd.com/Check21.> "We have a long history of offering compliance education to the financial services industry. A course on Check 21 compliance is a natural extension of our services," said John M. Schobel V, President of RegEd. "We knew when we became part of Fiserv that they would provide new opportunities for us, and we would provide new opportunities for Fiserv."

RegEd (www.RegEd.com) is Fiserv's compliance services subsidiary and the leading provider of continuing education and professional-designation training in the financial services industry. Founded more than 10 years ago by former securities-industry regulators and attorneys, RegEd provides the highest quality continuing education programs and the most innovative compliance tracking solutions. RegEd's extensive course catalog is used by more than 225,000 registered representatives and insurance agents at more than 800 financial services and insurance companies, more than any other vendor. RegEd became part of Fiserv in January 2004.

Fiserv is the nation's largest third-party check processing provider, annually handling more than 4.2 billion checks for over 1,700 clients. In addition, the company's Information Technology, Inc. (ITI) and Fiserv Imagesoft units provide image-based check processing software used by more than 500 additional financial institutions to process checks in-house. Fiserv operates nearly 50 check-processing centers across the U.S. and another six in Canada, and has a national image archive that adds nearly 7 million check images each day.

Fiserv, Inc. (Nasdaq:FISV) provides information management solutions to the financial industry, including transaction processing, outsourcing, and information technology systems. The company serves more than 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported $2.7 billion in revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com.