MOORPARK, Calif. — XP Systems, a business unit of Fiserv, Inc. (Nasdaq: FISV), has introduced LynxGate Solutions, a provider of ATM management solutions and EFT gateway products to financial institutions that drive their own ATM networks.
According to a news release, LynxGate evolved from XP Systems’ CAT (Controller for Automated Tellers) product. LynxGate provides solutions to 240 financial institutions. Its products currently interface with eight core systems, including those of Fiserv’s XP Systems, USERS, CUSA and Summit units.
CAT, the primary ATM product offered by LynxGate, deploys next-generation technology for the in-house management of ATM transaction processing.
Geared to medium to large-sized institutions, the product’s customer base includes National Institutes of Health Federal Credit Union of Maryland with $380 million in assets and Community Credit Union of Texas with $1.3 billion in assets. Community Credit Union operates 95 ATMs and processes 150,000 transactions per day through LynxGate’s CAT product, according to the release.
LynxGate markets the CAT product to banks and credit unions with more than 10 ATMs, an estimated benchmark at which financial institutions benefit from driving ATMs in-house. Developed over two years ago, the newest version of CAT operates on a Windows 2000 server and features a relational database and Web-based user interface. CAT supports advanced ATM functions and the ability to tailor products and services to the cardholder.
