Extend Your Money Transfer Capabilities with
TransferNow® for Retail Online
A Risk-Managed Account-to-Account Transfer Solution
Presented By Jeff McCrory and Michael J. Smith
March 10, 2015
Agenda Fiserv POV
Strategic Context
Product Overview
TransferNow Demonstration
Q&A
2
People aren’t thinking about financial services.
They’re thinking about…
the people
they love
the deadlines
fears
Can my business survive?
Can we afford the tuition?
Where will I be
when I’m 73?
Melding
access
to money and information about it
into the random moments of life
at the point of thought
© 2014 Fiserv, Inc. or its affiliates.
3 Points to Take Away Today about TransferNow
13
It’s easy to implement. 2
Consumers expect to be able to move money with a click. 1
It’s a game-changer. 3
© 2014 Fiserv, Inc. or its affiliates.
Current Landscape
Online / Mobile Banking
Electronic Funds Transfer
Interbank Transfers
Today’s Increasingly Digital Financial Environment
And Demands a Solution providing
these Outcomes
Increased Revenue
Reduced Losses
Improved Customer Experience
Digital Identity Management
Mitigating Risk and Fraud
Expediting Transfer Processes–Speedier Transactions
Offers New Challenges for Financial Institutions
14
© 2014 Fiserv, Inc. or its affiliates.
Consumer Adoption and Online Transfers Nearly 30% of Consumers Have Made an Interbank Transfer
Consumer Adoption and Total Dollar Volume of A2A Transfers (by Transfer Type and Channel)
Bill
ion
s o
f D
olla
rs (
US
D)
Source: Javelin (Sept. 2013)
15
57%
29%
19%
10%
0%
10%
20%
30%
40%
50%
60%
$0
$100
$200
$300
$400
$500
$600
$700
Online Intrabank Online Interbank Mobile Intrabank Mobile Interbank
© 2014 Fiserv, Inc. or its affiliates.
Annual Online Transfers
Number of Transfers Made in the Past 12 Months (On Average per Person by Type of Transfer)
Source: Javelin (Sept. 2013)
16
4.77
5.13
5.29
5.31
6.26
7.76
8.24
8.74
13.81
0 5 10 15
Mobile transfer to individual
Mobile interbank
Using nonbank provider
Wire transfer
Online to individual
Using money service
Mobile intrabank
Online interbank
Online intrabank
Nonbank providers like PayPal, Dwolla, Serve,
Western Union and MoneyGram compete for
transfer revenue
© 2014 Fiserv, Inc. or its affiliates.
TransferNow Overview
17
TransferNow is a convenient online account-to-account transfer platform
that provides consumers an easy and secure way to transfer funds
between accounts and financial institutions.
• TransferNow is recognized as creating the category of online
interbank transfers (A2A) and enjoys an established, referenceable
client network with 100% client retention.
• There is risk in moving money online. Reducing exposure to losses is
key and foundational to TransferNow.
Supporting A2A is a competitive necessity, a “must-have.”
© 2014 Fiserv, Inc. or its affiliates.
TransferNow Market Leadership A Proven Platform Used by Top U.S. Financial Institutions
$54B dollar value of funds moved in 2013
Consumers
Financial Institutions 500
clients
9%
18
year over year growth in active users
U.S. banks
8 10 of the Top
nearly
U.S. banks
17 30 of the
Top
Named
Best in Fraud Control
– FICO Decision Management awards
Best-in-Class financial crime risk management
– CEB TowerGroup
Leader in enterprise fraud management and anti-money laundering solutions
– Chartis RiskTechQuadrant
© 2014 Fiserv, Inc. or its affiliates.
Achieve a Competitive Differential Advantage with TransferNow
Client Relationship Value BackOffice Support
Robust Support Tool
Powerful Fraud Mitigation Risk-Managed Solution
Comprehensive Risk Tools
Proven Platform
In-market 12+ Years Dependable & Tested
Adoption and Usage Best-in-Class User Experience
Continuous Improvement
19
© 2014 Fiserv, Inc. or its affiliates.
Best in class user experience reduces drops-offs and promotes engagement
Configurability to meet financial institution branding requirements for consistent look and feel
Optimum placement within online banking via integration with Retail Online to drive adoption
TransferNow: Risk-Managed A2A Transfer Solution Industry leading solution, facilitating inbound and outbound transfers
20
© 2014 Fiserv, Inc. or its affiliates.
TransferNow: Feature-Rich
Multiple settlement options offer revenue opportunities: Next-day & 3-day good funds models
Proven risk monitoring platform with multiple verification methods to reduce fraud
Inbound transfers to loan accounts
Convenient transfer options: one-
time, recurring or future-dated
21
© 2014 Fiserv, Inc. or its affiliates.
Transfer of Funds is Main Focus of User Experience Clean, Simple UX Design with Retail Online
22
Single screen to set-up
transfer whether one-time,
future-dated, or recurring
Add a New Account
process incorporated into
the Transfer Funds screen
Call To Action messaging
to assist end-user with
outstanding tasks
More engaged end-users and higher adoption rates
© 2014 Fiserv, Inc. or its affiliates.
Back Office Support
Online Bank Office Transaction Management Platform
Compliance
Compass
Customer/Member Support
Global Risk Administration
23
© 2014 Fiserv, Inc. or its affiliates.
Industry Leading Risk-Managed A2A Transfers
• Fraud Prevention / Risk Monitoring –
At the heart of the solution to protect the
financial institution and end-user
• Network Effect –
Unmatched network to proactively
uncover fraud across all clients
• Mature Risk Platform –
In production for 12+ years with
hundreds of financial institutions
24
Systemic Controls
Post-Initiation Controls
Post-Settlement Controls
Risk
Management
© 2014 Fiserv, Inc. or its affiliates.
Multiple Account Verification Methods
Real-Time Verification
Trial Deposits
Transfer
Now
25
© 2014 Fiserv, Inc. or its affiliates.
In-Session Controls External Account Ownership Verification
26
• Accesses banking/broker sites with user credentials, verifying account and user name. Minimal user interaction required – user asked to enter login credentials
• Allows users to start using external transfers immediately
• Login credentials are never stored, discarded after use
Real-Time
Verification
• Two micro deposits sent via ACH to account, user must return to correctly verify amounts of the deposits
• User interaction required – user must verify correct micro deposit amounts
• Lower reliability than real-time verification, as user’s name is not matched against account
• Most popular method in industry
Trial
Deposit
Verification
© 2014 Fiserv, Inc. or its affiliates.
Integration with Retail Online
27
Retail
OnlineTM
• Provides faster-time-to-market
• Shorter, simpler implementation
• Lower cost of implementation
• Optimum placement within online banking
drives adoption
• Requires Retail Online 4.2 or higher
• Integrated single sign-on
• Passes eligible accounts, available balances and nicknames to TransferNow
• Default limits established, can be adjusted by financial institution
TransferNow
Demonstration
28
© 2014 Fiserv, Inc. or its affiliates.
Why TransferNow?
Consumers need to (and will) move money. Allow them to do it easily—With You
Consumer
Choices
Speed matters. Charge a premium for next day delivery
Revenue Opportunity
Enable funds to come to you—Easily
User
Convenience
Proven
Platform Flexible, risk-managed, feature-rich proven platform
Enabling A2A Transfers.
Empowering Consumers.
29
Optimum Placement and User Experience Drive Adoption & Engagement
© 2014 Fiserv, Inc. or its affiliates. 30
TransferNow – Risk-Managed A2A Transfers:
A Compelling Value Proposition
Convenient account-to-
account transfers,
inbound and outbound.
TransferNow
© 2014 Fiserv, Inc. or its affiliates.
Promotion
TransferNow Implementation Special Offer Good through May 31, 2015
• Implementation Fee discounted by 50%
• Completed Service Add Form returned to
Fiserv ([email protected]) by May 31, 2015
31
© 2014 Fiserv, Inc. or its affiliates.
Next Steps: Let’s Get Started
TransferNow Enabling Money Transfer. Empowering Consumers.
• Contact [email protected] or your Fiserv Account
Representative
• Watch for an Email from Fiserv Bill Pay Services
• Recording
• Copy of the slide presentation
• Service Add Form
• Return a signed copy of Service Add Form
32
© 2014 Fiserv, Inc. or its affiliates.
Sweeps
Earn an entry every time
you pay a bill, activate an
eBill or send money with
Popmoney;
Requires registration.
We’ll pay 1 winner/month
for bills/sent money up to
$3,000.
Rewards
Earn points every time you:
• Pay a bill
• Send $$ with Popmoney
• Add, Pay a new payee
• Set up a recurring payment
• Set up Autopay
• Request an eBill activation
Cash in points for rewards
Requires registration
Donation
Send money with
Popmoney, and we’ll
donate $1 to charity
Co-branded with selected
charity partner
Free up your time for the
things that really matter.
Bill Pay and Popmoney are even
more rewarding than usual!
Give a little extra this
holiday season.
Bill Pay & Popmoney Bill Pay & Popmoney Popmoney
2015 Managed Program Campaign Overview
Apr May Jun Jul Aug Sep Oct Nov Dec Apr May Jun Jul Aug Sep Oct Nov Dec
33
© 2014 Fiserv, Inc. or its affiliates.
Learn more at
www.pages01.net/fiservbps/2015managed
34
Q&A
35
