|
De Novo Success
After a significant number of mergers and acquisitions in the Worcester, Mass., area during the 1980s and ‘90s, finding a bank with local roots was difficult. Recognizing that the growing commu nity needed a locally based commercial bank, a group of local business owners and bankers formed Commonwealth National Bank, which opened as a de novo in December 2001.
Now the fastest growing bank in Worcester County, they have six branches and more than $280 million in assets. Commonwealth National continues to expand and prosper by offering an array of products and services, enabling them to successfully meet marketplace demands.
Customer Service Driven
The bank realized early on that trends in the financial services industry were showing a decline in customer service levels, so they partnered with a technology provider who enabled them to place a stronger focus on serving customers. Fiserv, Inc. was their choice.
“Fiserv has helped our small commercial bank enter the market in a big way,” says Commonwealth National Bank Senior Vice President Martha Dean. “By offering a full range of products and services, we're able to live up to our promise of superlative customer service. We're committed to growing with our customers, and Fiserv gives us the flexibility to meet their needs.”
At the Core
Commonwealth uses the Premier® core processing system from the industry leader Information Technology, Inc. (ITI), a business unit of Fiserv. Available for outsourced or in-house processing, Premier’s openly integrated, service-oriented architecture offers a comprehensive suite of products for virtually every banking function. The bank chose to outsource its account processing through the Fiserv ITI Outsourcing center in Glastonbury, Conn. “The quality of the fully integrated Premier suite has helped differentiate Fiserv from others in the financial technology industry,” says Dean.
“Premier gives us a complete view of customer relationships, and many of the commercial products and services we're able to offer help
us compete with larger banks in the area.”
Realizing Success
Commonwealth has also benefited from deploying many of ITI’s other Premier solutions. “Director Report Archive enables us to store and retrieve data efficiently,” says Dean, “and Premier Teller provides a streamlined transaction process that enables our front line personnel to spend more time with our customers.” In addition, the bank uses electronic funds transfer products from Fiserv EFT, and transaction processing services through Fiserv Item Processing.
True Partnership
While it’s one thing to find a solid core processing vendor who supports your financial institution’s goals and objectives, Dean says it’s quite another to find a true technology partner. “Even though we're a small commercial bank, our partnership with Fiserv makes us feel energized to meet the banking challenges of the future. We hold our expectations high, and they are continuously met.”
|
Printable version
