BROOKFIELD, Wis. - Chase Manhattan Bank is outsourcing more of its check processing to Fiserv Inc.
Fiserv is to manage more of the bank's wholesale check operations, including disbursement services. The data processing company will double, to 400, the number of workers at a Chase processing center in Syracuse, N.Y., which it has managed since 1995.
The Syracuse center provides controlled disbursement and account reconciliation services to help large corporate customers with funds management and accounting as they control their payables.
Leslie M. Muma, president and chief executive officer of Fiserv, said, "As banks develop their plans for the shift to electronic transactions, we believe their desire to outsource check processing will continue to accelerate."