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Mark DeFazio knows all about vendors. Anyone who lives or works in Manhattan is well acquainted with them. They’re everywhere selling everything, from hot dogs and pretzels to sunglasses and fake Rolexes. They’re a part of New York as much as the Empire State Building. Fiserv VISION client Metropolitan National Bank is located in the heart of Manhattan. When the bank, which began as a denovo in 1999, was looking for a service provider, President and CEO DeFazio knew he didn’t want just a vendor. He didn’t want to do business with a company that was only interested in selling him something. Mark DeFazio wanted a partner, and he found one in Fiserv VISION.
Although Metbank has grown and prospered since 1999, reaching approximately $400 million in assets and over 2,600 accounts, DeFazio clearly remembers his fi rst meetings with Fiserv VISION. “They didn’t look down on us because we were a denovo. They had that passion, that conviction in their eyes that said, “This could be a good company”. We were partners. My relationship with Fiserv VISION is not a vendor relationship. They really stepped up and listened to our needs.”
Experience Counts
As the bank prepared to open its doors, Fiserv VISION’s experience kicked in. Metbank was the benefi ciary of Fiserv VISION’s long history of converting clients from a wide range of providers as well as helping denovo banks to get up and running. In the years 2003 through 2005 alone, Fiserv VISION brought over 160 new clients onto its system. There is nothing the Fiserv VISION Implementation Team hasn’t experienced. DeFazio notes, “They had a lot teed up for us. Many of the people we talked to early on already knew what we wanted because they had been in the business a long time.”
Metropolitan National Bank was created because its founders saw a void in the market that they could fi ll. As the big banks in the tri-state area got bigger and more consolidations took place, they began to neglect the middle market customers, the commercial real estate and import/export business owners. The bank’s primary business in the early days was providing services to these types of businesses. Metbank’s founders believed that fi nding new business was more important than just fi nding deposits. They were more interested in building relationships, a philosophy shared by Fiserv VISION.
A client is a client to Fiserv VISION, no matter the size, sophistication or strategy. The commitment to quality, attention to detail and personalized service does not vary, a fact that was not lost on Mark DeFazio, “Fiserv VISION put as much time into my account as they did any of the larger institutions they were working with. They committed themselves to us. They helped us build it. The communication lines were always open and we had access to the people we needed.
You would have thought we were their biggest client.”
A Flexible Solution
In 2005, the bank embarked on the second phase of their business plan – to build their retail business. They had always offered retail services but never at a street-level branch. That changed in August of 2005, when the bank opened its fl agship retail branch at their 99 Park Avenue headquarters building. Once again, Metbank relied on Fiserv VISION’s experience and fl exibility to help them through the process. Says DeFazio, “They had a playbook and they tailored that playbook to fi t our needs. They weren’t rigid. There was no, “This is it. It’s either Column A or Column B. They were wide open to suggestions.” The bank’s ideas and Fiserv VISION’s ability to put them into action was a winning combination. The branch has proven to be a great success and more locations are in the works.
As Metbank has grown, so has its use of Fiserv and Fiserv VISION solutions, including the VISION Data Warehouse, Retail Internet Banking, electronic funds transfer services from Fiserv EFT and PATRIOT Offi cer, Fiserv VISION’s integrated regulatory risk management module. With the responsibility for these services spread among several internal departments, Metbank’s Account Executive plays a key role in coordinating and unifying Fiserv VISION’s support of all the solutions in place at the bank. Mark DeFazio appreciates Fiserv VISION’s single source approach.
“This is a challenging position because you have so many different areas of the bank communicating independently with Fiserv VISION. Having that Account Rep giving you personalized service goes a long way.”
Plans for Expansion
What lies ahead for Metbank? The bank has plans to expand its branch network, opening two locations in 2006 and two more in 2007. Metbank Mortgage, founded in 2004 and supported by Fiserv VISION, continues to post impressive growth. Metbank, through its CashZone subsidiary, provides fi nancial services to those who don’t currently maintain a formal banking relationship. DeFazio’s hope is that CashZone is the fi rst step in educating and transitioning these customers to a traditional banking relationship. When that time comes, Fiserv VISION will be there to assist them.
The founders of Metbank saw an opportunity and took it. Fiserv VISION was there to lend its support and expertise. As Mark DeFazio puts it, “Fiserv VISION made a decision and made a bet to put something behind a small company. I’m happy to look in the rear-view mirror and say they made a good bet.” Fiserv VISION’s bet on Metbank wasn’t a monetary one. They saw a client with a plan to succeed and did their best to help those plans come to fruition. It’s what any good partner would have done.
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