Case Study: Top 25 U.S.-based Bank Eliminates Credit Risk and Cuts Returns 46% with Fiserv TransferNow: Next-Day Good Funds

Top 25 Bank Eliminates Credit Risk With TransferNow: Next-Day Good Funds

U.S. Based Financial Institution, a top-25 U.S. bank and major auto lender, needed to expand online and mobile transfer options while eliminating credit risk, reducing outbound returns and meeting regulatory and operational requirements. To achieve faster, safer account-to-account transfers, the bank turned to Fiserv and its TransferNow: Next-Day Good Funds solution.

Fiserv implemented TransferNow: Next-Day Good Funds (via the NOW Network) to enable one-day transfers to and from checking, savings and money market accounts at nearly every U.S. financial institution. The deployment eliminated NSF losses, reduced outbound returns and related administrative costs by 46%, increased “transfer timing” customer satisfaction by 6%, and shifted about 66% of transfers to next-day—delivering measurable cost savings and improved customer experience.