Fiserv CBS Worldwide, a unit of Fiserv Inc. (Nasdaq:FISV), announced today that it has successfully completed the implementation of its core banking solution, Fiserv ICBS, at the largest credit union in Latin America, Caja Popular Mexicana (CPM). CPM is based in Mexico and has nearly 1.1 million members.
“With the completion of this project, Caja Popular Mexicana now has the largest online branch network of any credit union in Latin America,” said Ramon Imperial, CEO and president of CPM. "Fiserv ICBS provided immediate benefits to CPM, including the centralization of up-to-date information, data control and security, additional product development, more efficient service, enhanced business processes and best practices.This new technology allows all our members to transact deposits, withdrawals, transfers and third-party payments in any of our 338 branches."
More than 3,200 CPM employees were trained in the new system and now have access to information that provides for improved decision making, optimal control of all operations and financial resources, better services and information security.
"Completing the four phases of this complex implementation with such timeliness is a huge compliment to CPM as well as to Fiserv’s implementation team,” said Dan Alf, managing director, Latin America, Canada and the Caribbean for Fiserv CBS Worldwide. “Fiserv’s products allow CPM to complete many of their day-to-day tasks more efficiently, making their business operations run smoother and more effective. This allows CPM to focus on their clients as well as on their long-term growth strategies.”
About Fiserv CBS Worldwide
Fiserv CBS Worldwide is a unit of Fiserv Inc. (Nasdaq: FISV).Fiserv CBS Worldwide delivers end-to-end business and technology solutions for retail financial organizations, consumer finance institutions and credit unions throughout Europe, Asia-Pacific, Latin America, the Caribbean, Canada and the United States.Through its offices in the U.S. the United Kingdom, Poland, Singapore, Australia, China, Indonesia, Colombia and Costa Rica, Fiserv CBS Worldwide enables nearly 300 financial institutions to deliver integrated solutions for managing the entire customer life cycle from core banking to multichannel customer contact and data warehousing. Fiserv CBS Worldwide can be found on the Internet at www.fiservcbs.com.
About Fiserv Inc.
Fiserv Inc. (Nasdaq: FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing, software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.
About Caja Popular Mexicana S.A.P.
CPM is the largest and one of the fastest growing credit union in Mexico and Latin America with assets over $1.2 billion dollars, more than 1 million members and more than 189,000 underage savers.CPM processes an average of 380,000 transactions each day. CPM operations are supported through 338 rural and urban branches in 22 Mexican states.Further information can be obtained from CPM website on www.cpm.org.mx.
