Expands Fiserv leadership in the fast-growing HSA arena
BROOKFIELD, Wis.–(BUSINESS WIRE)–Fiserv, Inc. (NASDAQ:FISV), a leading provider of technology solutions, announced today that it has been selected by Huntington National Bank (NASDAQ:HBAN) to offer health savings account (HSA) services to the individual and business customers the bank serves. Fiserv’s comprehensive healthcare banking solution, which derives its functionality from the products and services of a vast array of healthcare, banking and payment assets, will be made available as a totally outsourced solution for the $35-billion regional bank holding company headquartered in Columbus, Ohio.
“Providing health savings accounts is essential to our ability to offer a full range of products and services to meet the needs of our customers. After considering a number of potential partners and undergoing a rigorous selection process, we chose Fiserv to implement our HSA program,” said Guy Molde, senior vice president for Huntington. “Fiserv’s knowledge of the healthcare market, its resources, and its well-established expertise in working with banks will enable us to provide health savings accounts to our customers, with superior service at an affordable price.”
The components of the Fiserv healthcare banking solution are provided by a team of Fiserv companies with the expertise to assemble a combination of services that best meets the needs of any financial institution and its customers. As the technology foundation for the entire solution, Huntington is deploying HSA account processing software, end-to-end outsourcing solutions, front-line customer support, back-office and operational systems, as well as a customer call center. Fiserv also provides the Internet banking delivery components, administrative services, ATM and electronic funds transfer services, item processing, and card production services.
Huntington will offer HSAs directly to consumers, and through employers. “Our focus will be on offering HSAs to the employees of our business and commercial clients. Through our insurance group, we will also work together with third-party administrators and healthcare providers. In addition, individuals will be able to obtain information and self-enroll via our website,” said Molde. “We are confident that with Fiserv’s experience in both healthcare and banking, our customers will receive the high level of service they expect from Huntington.”
“This is a prime example of ‘Fiserv 2.0’ at work,” said Fiserv senior executive vice president & chief operating officer Norm Balthasar, citing the company’s recently announced initiative to enhance client success by leveraging the combined expertise of Fiserv’s various business units. “By bringing this kind of teamwork to bear as an extension of Huntington, we’re able to offer them more value, opportunity and growth, through the technologies and services needed to provide their customers with the industry’s finest consumer-driven healthcare banking.”
Balthasar said the relationship with Huntington benefits both organizations. “With the addition of HSA accounts, Huntington will be a stronger competitor in its markets. For Fiserv, the agreement further expands our leadership position in HSA banking and illustrates the value our comprehensive and integrated solutions bring to our clients.”
About Huntington National Bank
Huntington Bancshares Incorporated is a $35 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has more than 141 years of serving the financial needs of its customers. Huntington provides innovative retail and commercial financial products and services through over 380 regional banking offices in Indiana, Kentucky, Michigan, Ohio, and West Virginia. Huntington also offers retail and commercial financial services online at huntington.com; through its technologically advanced, 24-hour telephone bank; and through its network of nearly 1,000 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Arizona, Florida, Georgia, North Carolina, New Jersey, Pennsylvania, South Carolina, and Tennessee; Private Financial and Capital Markets Group offices in Florida; and Mortgage Banking offices in Maryland and New Jersey. International banking services are made available through the headquarters office in Columbus and a limited purpose office located in the Cayman Islands and another located in Hong Kong.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 18,000 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 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.5 billion in total revenue for 2006. For more information, please visit www.fiserv.com.
