Nineteen banks in the last nine months have decided to move to financial services technology solutions provider Fiserv for new core processing platforms.
Image: Fiserv office in Hillsboro, Oregon. (Credit: Stevens/Wikipedia.org)
Each institution will utilize their selected platform as a foundation to further their unique strategies, and many will include integrated digital banking and payment capabilities.
Fiserv bank solutions president Todd Horvath said: “Today, technology defines banking. Financial relationships are built through trusted interactions, and in our digital world it is more likely those will be across a device than across a desk.
“The right core platform will enable a bank to deliver an intelligent experience in any channel, and we’re proud that so many banks turn to Fiserv for their most important technology decision.”
First National Bank of Waterloo president and CEO Gary Hemmer said: “Our customer’s expectations are changing, so we’re changing too.
“A more robust core platform will enable us to serve customers in the ways they prefer, whether that is in the branch, online or on the phone. We selected Fiserv because they were ready to grow with us.”
First National Bank of Waterloo wanted a core provider that would allow them to engage customers with modern functionality.
The bank was initially impressed with the Fiserv core platform after observing it in action at another bank, where they noted its ease of use related to tasks such as finding and extracting data.
While attending the Fiserv client conference the bank learned about additional Fiserv solutions designed to integrate into the company’s core banking platforms. As a result, the bank will move multiple additional systems, including online and mobile banking and payments, to Fiserv.
This will allow the bank to streamline processes such as account opening and create a more integrated customer experience. The bank will also add in-demand services such as e-signatures and the ability for customers to manage their own debit cards from their mobile device.
In Bellaire, Ohio, Belmont Savings Bank will implement a Fiserv core banking platform along with online and mobile capabilities as it moves to become a full-service, technology-based community bank.
The bank sought a stable and reliable core provider that had an emphasis on service, and a real-time platform that could integrate with pre-existing systems and elevate current offerings.
The bank appreciated the fact that Fiserv took time to research and understand what the bank needed, had significant experience working with similar financial institutions, and was able to point to success stories.
The fact that members of the bank staff had previous positive experiences with Fiserv also influenced their decision.
The Fiserv platform will allow the bank to respond to customer requests more quickly and act proactively to offer new products for retail and business customers, such as merchant capture and wire automation.
It will also streamline tasks for staff members through automation of day-to-day tasks, including teller processes and account openings.
Belmont Savings Bank president and CEO Todd Cover said: “We are committed to serving our community and helping our customers achieve their financial goals, which is both possible and practical with the integrated capabilities and expertise offered by Fiserv.
“Moving to a new core banking environment will allow us to bring more products and services to market to better meet the needs of our customers.”
Source: Company Press Release.