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Fiserv, Wells Fargo Partner on Foreign Currency Exchange Solution

The partnership is designed to offer streamlined foreign currency payments.

Brookfield, Wis.-based Fiserv, a provider of financial services technology solutions and Wells Fargo (San Francisco), announced a partnership to deliver advanced foreign currency exchange capabilities through Fiserv's WireXchange, an automated solution for completing end-to-end wire transfers.

The interface with Wells Fargo provides financial institutions the ability to initiate foreign exchange transactions using WireXchange, according to Fiserv.

The addition of a fully integrated foreign exchange application will further eliminate manual processes, the company added.

"At Fiserv, we continually seek out opportunities to enhance our products and services and provide practical technology tools to support our clients' day-to-day business operations," said Dave Selina, segment executive for Fiserv in a statement. "As the demand for payments in foreign currency increases, financial institutions need solutions to serve that need in a streamlined, cost-efficient way. With this solution, our clients will experience cost savings and operational efficiencies, potentially find new revenue sources, and gain competitive advantages."

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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