Fiserv Announces Virgin Media Implementation of CheckFree’s Reconciliation & Exception Management Solution within Financial Shared Services Center

Successful implementation consolidates and automates reconciliation of customer revenue related accounts and improves efficiency, accuracy and visibility of financial operations

Brookfield, Wis., July 15, 2008 (AllPayNews) – Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, today announced that Virgin Media has successfully implemented CheckFree’s Reconciliation and Exception Management solution to automate the reconciliation of customer revenue related accounts. This implementation followed a full review of legacy systems in place throughout the organization and the subsequent need for a best-of-breed solution for Virgin Media’s financial shared services center, located in Bradford, United Kingdom.

By consolidating its legacy reconciliation programs into a single enhanced platform, Virgin Media has streamlined its transaction matching, reporting and performance management processes while improving the efficiency of its operations. By automating its reconciliation system through CheckFree, Virgin Media has reduced the time required to complete the month-end close process. Additional benefits include, the elimination of spreadsheet-based reconciliation tools and other manual elements which has reduced error rates and diminished the need to re-code transactions to ensure comparability in core data.

“Moving to CheckFree’s single automated reconciliation platform has provided us with greater visibility into our operations, allowing us to closely monitor the status of our accounts, improve process efficiency, provide support and training where required and reduce the likelihood of operational error,” said Beverley Booth, head of Finance and Payroll Services, Virgin Media. “In addition, the solution has improved our core financial processes that go well beyond reconciliation, such as incorporating data from bank service providers as well as overall performance management. CheckFree’s consultative partner approach was a key factor in selection as we felt they really understood our business problems and provided a solution that could be configured to address the issues we faced”

With CheckFree’s Reconciliation and Exception Management solution, Virgin Media was also able to link bank statement interfaces into its reconciliation system, allowing the team to access and integrate critical information faster. Now, transactions are automatically matched and reconciled based on predetermined business rules. Information technology resources are also utilized more efficiently as the reconciliation system can now be serviced by a single IT support team.

“Our primary objective was to deliver an automated reconciliation solution for Virgin Media’s subscriber accounts that would provide significant advantages over previous manual processes and disparate legacy systems,” said Mark Cappell, senior vice president and general manager, Operational Risk Management, CheckFree, now part of Fiserv. “The ability to have an accurate and complete view of the cash flow in these accounts allows Virgin Media to simultaneously improve reconciliation operations and better mitigate the risk associated with delays in transaction processing.”

About Virgin Media

Virgin Media is an innovative and pioneering UK entertainment and communications business. For the first time consumers can get everything they need from one company - the UK's only quad-play of TV, broadband, phone and mobile, plus the most advanced TV on demand service, all delivered through its unique fibre-optic cable network. Virgin Media launched the UK’s first high definition TV service, is the only TV platform to carry BBC iPlayer, and offers a high-specification, HD-ready V+ personal video recorder. Virgin Media is the UK’s largest residential broadband provider, the largest virtual mobile network operator and the second-largest provider of pay TV and home phone.

Virgin Media owns two content businesses - Virgin Media Television (VMTV) and sit-up. VMTV owns seven entertainment channels – Virgin1, Living, Living 2, Bravo, Bravo 2, Challenge and Trouble - and is a 50% partner in UKTV which consists of nine channels including Dave, UKTV Gold and UKTV History. sit-up runs retail TV channels bid tv, price-drop tv and speed auction tv.

Virgin Media has been voted the sixth Most Loved Brand in Britain in a Marketing magazine poll, as well as having been voted the Most Trusted ISP Brand 2008 by Reader’s Digest magazine. The Sunday Times also awarded Virgin Media its 2008 Best Buy awards for broadband and movies on demand.

Virgin Media is the largest Virgin company in the world and has almost 10 million customers. To find out more visit www.virginmedia.com/presscentre [1].

About Fiserv, Inc.

Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company 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. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007. For more information, please visit www.fiserv.com [2].

For more information contact:
Gillian Clare
Director of Marketing
CheckFree, now part of Fiserv
+44 (0) 845 013 1036
gclare@checkfree.com [3]

Fiserv Corporate Contact:
Lori Stafford-Thomas
Assistant Vice President Corp. External Comm.
Fiserv, Inc.
262-879-5130
lori.stafford@fiserv.com [4]