Investments

Citizens Financial Chooses Fiserv for Technology Platform

Bank Of America Investment By WTN News • 02/02/04 BROOKFIELD, Wis.-Fiserv will provide technology products and services to Citizens Financial Services, a savings bank headquartered in Munster, Indiana.

"Our financial institution clients have a great deal of interest in recent healthcare legislation and the emergence of healthcare banking, " said Norm Balthasar, Fiserv's chief operating officer. "At the same time, there's a lot of confusion in the market today, especially regarding HSAs and their implication for the financial industry.

Investment Opportunity Fiserv, Inc. provides information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions.

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Banc Of America Investment "Our primary focus since our founding in 1934 has been customers, so we want a core processing system to work seamlessly while allowing us to do an even better job of serving those customers," said Tom Darovic, Executive Vice President of Retail Operations at Citizens. "We believe Fiserv has a reputation for service that meshes well with our own corporate philosophies, so we see this as the beginning of a long-term relationship."

Prior to joining 3i, founder and COO of Exygy, a business focused on new applications of GPS and wireless technology. Before this, David worked for four years in the $3.5 billion private equity group at GE Asset Management, where he specialized in late stage venture and growth capital opportunities. He also held a position managing investment portfolios for the Bank of Boston and began his career in investment management at State Street Bank, with GE Asset Management as his client. David also has experience as a strategy consultant with both the Parthenon Group and with Citizen's Energy.

Banking Investment Under a five-year agreement, Fiserv will supply its outsourced Information Technology, Inc. (ITI) core processing system - including such applications as the Director document management system and the Prime data analysis solution - as well as the Fiserv Premierecom Internet banking and Premierecorp Internet cash management systems.

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