SOURCE: SourceMedia

November 12, 2007 06:00 ET

Bank Technology News Ranks Innovators of 2007

Jeffery Yabuki of Fiserv, Bank of America, Tripp Rackley of Firethorn, RBC Financial Group and Louis Hernandez of Open Solutions Inc. Top Exclusive Innovation Ranking

NEW YORK, NY--(Marketwire - November 12, 2007) - Bank Technology News, the leading magazine for senior financial technology executives published by SourceMedia, released its sixth annual Innovators ranking, which honors the banking and financial services industry's 25 most innovative people, companies and technologies.

"This year's Innovators represent a remarkable group of leaders who demonstrate how aggressive, well-conceived technology strategies can increase revenue, lower costs and differentiate a financial institution from its competition," said Bank Technology News editor-in-chief Holly Sraeel. "Our 25 honorees have redefined the technology landscape with advances in next-generation payments and mobile banking, improved data analytics, branch automation, Internet security and more."

Topping this year's exclusive list, published in the November issue, is Jeffery Yabuki, Fiserv, Inc.'s president and CEO. Since taking the reins in November 2005, Yabuki has launched a corporate strategy to offer a platform-wide suite of products, Fiserv 2.0, which will take the company from a profit-center, business-unit model to one with a customer-driven mission. And his efforts are paying off: in the first nine months of 2007, total revenues increased 9.3% to $2.54 billion year over year.

Bank of America ranks second with a technology budget estimated at $6.6 billion and a management team and culture that is focused on technology implementations that produce business results. From online and mobile banking to the rollout of the bank's "Keep the Change" program that allows consumers to save while they spend, technology has contributed to Bank of America's strong retail performance over the past year.

Coming in at number three is Tripp Rackley, CEO of Firethorn Holdings, a mobile banking and payments technology company launched in November 2006. Firethorn's Mobile Consumer Wallet, a downloadable app for mobile banking, has been adapted by BancorpSouth, Wachovia, SunTrust, Regions Bank and Synovus. Firethorn has partnered with AT&T, Verizon and CheckFree to bring this functionality to bank customers.

The rankings' fourth and fifth positions are held by RBC Financial Group and Louis Hernandez, chairman and CEO of Open Solutions Inc., respectively. The entire Innovators list can be seen at http://www.BankTechNews.com.

Awards Dinner at the Wynn Las Vegas on November 12

In conjunction with its published rankings, Bank Technology News and SourceMedia will host an awards dinner celebrating The Innovators on November 12, 2007 at The Wynn in Las Vegas. The ceremony will feature keynote speaker Peter Kight, chairman and CEO of CheckFree, and Jeffery Yabuki, president and CEO of Fiserv, Inc. Mr. Kight will also be honored as the first recipient of the annual Peter Kight Lifetime Achievement Award. In addition, Kight and nine of this year's honorees will be inducted into The Innovators' Hall of Fame.

About Bank Technology News and SourceMedia, Inc.

Bank Technology News, www.BankTechNews.com, the industry's source of technology coverage, provides critical information and analysis on the relationship between banking strategy and technology execution at financial institutions. As banks and other financial organizations focus intently on facilitating business objectives, meeting compliance guidelines and achieving a return on investment for technology purchases, Bank Technology News focuses on the players, companies and innovations that enable institutions to play by new rules and establish benchmarks by which their performance and regulatory compliance will be enhanced.

SourceMedia, an Investcorp company, is the pre-eminent provider of timely and essential news, analysis, research, and insights for members of the financial services community, and the related fields of accounting and technology. SourceMedia offers its clients and subscribers professional publications, industry-standard data applications, and in-depth seminars and conferences.

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