November 19, 2008

Brookfield, Wis.-based Fiserv has released its latest offering in the online banking space—Online Advantage. This solution is designed to streamline the online banking process for consumers and increase revenue opportunities for financial institutions.

Online Advantage integrates all commonly viewed account information—electronic bills and payments, account balances, transfers and personal money management tools—onto a single screen for easier access and a more personalized and compelling consumer experience. Online Advantage was developed after Fiserv conducted consumer research and testing to learn what it is that annoys people about the online banking experience and what they find most appealing.

"Consumers get so frustrated when they do online banking because they can't always find all the features the bank offers," Steve Shaw, director of strategic marketing, told BS&T. "With Online Advantage, we're 'surfacing' those services people use into a single view so they can do their online banking on one page, rather than tabbing through to other pages on the site."

According to Shaw, the new solution leverages the best of the aspects of Corillian's online banking and CheckFree's bill payment services to help financial institutions further expand online interactions and deepen customer relationships. Both companies were acquired by Fiserv.

It also builds in personal finance tools, something that can be a value add for banks offering the service, said Shaw. In addition, Online Advantage sports a family banking module that allows customers to implement entitlement rules with customizable levels of access across multiple users, and a remote deposit capture feature that allows users to scan and deposit checks at home.

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