WARRENVILLE, Ill., and OVERLAND PARK, Kan. (8/1/12)--Balance Sheet Solutions LLC (BSS), a broker/dealer, investment adviser and asset-liability management and risk management consultant to credit unions, has partnered with CU Investment Solutions LLC (ISI) to create operational efficiencies.
By partnering with CU Investment Solutions, BSS is able to essentially outsource the back-office compliance function along with the operation, trading and settlement functions, the company said.
BSS is a wholly owned credit union service organization of Alloya Corporate FCU, Warrenville, Ill.
ISI, chartered in 1998 and located in Overland Park, Kan., is a corporate credit union-controlled brokerage firm that cleared more than $10 billion in trades for credit unions during the past year.
BSS cleared close to $3 billion in trades during the same period.
BROOKFIELD, Wis. (8/1/12)--Fiserv Inc., a financial services technology firm, said Tuesday that its net income jumped 79% in the second quarter, buoyed by revenue growth and a charge that cut into net income a year ago.
Fiserv reported net income of $161 million, or $1.17 a share, in the quarter ended June 30. That compares with net income of $90 million, or 62 cents, in the second quarter of 2011. Last year's second quarter included a $61 million charge related to debt retirement.
Revenue increased 3.4% from the same time a year ago to $1.1 billion from $1.065 billion.
Fiserv also released its speaker and agenda details for Fiserv Forum--Fall 2012, its annual credit union client conference, to be held Sept. 10-13 in Las Vegas.
Speakers include Fareed Zakaria, journalist, author and global thinker; Pranav Mistry, a visionary inventor who pushes the boundaries of technology and design; and a special guest speaker on Sept. 11 to recognize the significance of that day in U.S. history.
Fiserv Forum--Fall 2012--previously called Innovate--is the largest annual technology-focused event for credit unions, and is expected to attract more than 2,000 credit union and financial technology professionals.
Strategic decision-making, growing credit union membership, expanding digital channels, managing risk and payment portfolio opportunities are among areas that will be addressed at Fiserv Forum. The conference will feature a 35,000 square-foot Technology Showcase.