New York Community Bancorp has selected Fiserv’s real-time core platform and integrated suite of digital banking and payment solutions to optimize its retail banking and commercial lending capabilities.
Image: Fiserv offices in Hillsboro, Oregon. Photo: Courtesy of M.O. Stevens/Wikipedia.org
To increase efficiency and simplify operations, the bank will also move from in-house processing with ASP model hosted by Fiserv to increase efficiency and simplify operations.
New York Community, which is a $51.2bn in assets financial institution, provides multi-family loans in New York City.
With a network of over 250 branches, the bank provides services to the customers in New York, New Jersey, Florida, Ohio, and Arizona.
New York Community Bancorp assistant chief operating officer Barbara Tosi-Renna said: “Modernizing and streamlining our technology with Fiserv will enable us to meet the heightened digital expectations of depositors and commercial customers while enhancing efficiency and strengthening our competitive position.
“We chose Fiserv because their solutions, integration and expertise put us in the strongest position to succeed in our fast-changing marketplace.”
New York Community Bank is set to implement DNA, which is a continuously available real-time core platform based on open architecture.
The bank also deploys Fiserv’s integrated digital solutions, including Commercial Center for commercial cash management and business banking and open, real-time Dovetail Payments Platform.
The bank also will move existing in-house solutions such as Corillian Online and Mobiliti digital banking solutions from Fiserv to its new outsourced environment.
With professionally managed data center and advanced suite of integrated solutions, Fiserv supports New York Community Bank to enhance it digital, business and cash management capabilities to better serve its expanding commercial customer base.
Fiserv bank solutions president Todd Horvath said: “New York Community Bank has found a successful niche and is refining their delivery of customer-focused capabilities through technology that enables innovation, efficiency and differentiation that leads to competitive advantage.”
Fiserv provides account processing services for more than one-third of US financial institutions. The firm helps its clients to better handle their payments, processing services, risk and compliance, customer and channel management, and insights and optimization.