Fiserv Extends Check Clearing Network
BROOKFIELD, Wis. – Fiserv said Tuesday it has extended the nation’s largest check-clearing network to the Northeastern part of the U.S. through an agreement with Bankers’ Bank Northeast as a settlement partner. The deal will make Bankers’ Bank the settlement bank for Fiserv’s item processing centers throughout New England. In order to facilitate clearing through the Federal Reserve system, Fiserv needs a bank certified by the Fed to provide the settlements. Fiserv is the largest third-party check processor in North America, handling more than four billion checks for more than 1,6000 clients a year. The company operates more than 50 check-processing centers across the country.