Press Releases

Fiserv Embeds the Functionality of Carleton CarletonCalcs® into Automotive LOS to Automate APR Calculation and Compliance

Brookfield, Wis., November 26, 2007 — Fiserv, Inc. (NASDAQ: FISV) announced that it is embedding Carleton Inc.’s CarletonCalcs® financial compliance software into its Fiserv Automotive Solution’s Loan Origination System (LOS). Adding CarletonCalcs® directly into the Fiserv LOS automates rate calculations, validates state usury law compliance and keeps clients up-to-date with all regulatory compliance requirements on an ongoing basis.

As a leader in automotive lending automation, Fiserv recognized synergies in integrating Carleton’s bestin-class compliance tools. The robust calculation functionality of CarletonCalcs® enables both current and future Fiserv LOS clients to accurately support a wide array of payment frequencies, skip payments and irregular payment arrays or automotive loans and leases. CarletonCalcs® accurately accounts for all insurance and after-market add-ons, as well as all federal, state and institutional requirements that impact loan APR calculations.

Use of the calculation and compliance tools is seamless for Fiserv LOS clients. Dependence on maintaining tables is eliminated because regulatory updates are compiled automatically by the solution. “Fiserv is committed to bringing additional value to our clients by making CarletonCalcs® functionality part of our solution,” said Kevin Collins, president of Fiserv Automotive Solutions. “This integration automatically makes our Fiserv LOS clients compliant with federal and state lending regulations. Instead of dealing with the complexity of maintaining regulatory compliance state-by-state, lenders can focus their resources on bringing in more business.”

“Having SmartCalcs available within the Fiserv LOS application alleviates compliance maintenance issues,” said Pat Ruszkowski, president and chief executive officer of Carleton. “Carleton is pleased to work with Fiserv to deliver accurate and reliable tools that make the lending process more efficient.” The Carleton-enhanced calculations and corresponding product capabilities are the foundation to expand the breadth of the Fiserv LOS loan and lease compliance, as well as for future advancements.

About Carleton

Carleton Inc. is the country’s leading provider of financial calculation software, loan origination compliance support and document delivery software. Founded in conjunction with the Truth in Lending Act in the late 1960s, its client list has grown to include most of the major lenders, credit insurance companies and loan origination software providers in the United States. More information is available at

About Fiserv

Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 18,000 clients worldwide and 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. Headquartered in Brookfield, Wis., Fiserv reported more than $4.4 billion in total revenue for 2006. For more information, please visit