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Banks of all sizes are reexamining how they do business and how best to use technology to keep pace with continuing, dramatic change:
- Industry consolidation and competition continue to squeeze operating margins and intensify the need for operating efficiency.
- Rapid technological advances, especially those linked to the Internet and mobile communications, have created new service delivery channels and new expectations for information availability.
- Regulatory demands for better risk control, more transparent reporting, and stricter corporate governance are forcing heavy technology investment to enhance data monitoring, analysis, and reporting.
- Customer demands are growing even as their loyalty diminishes. They want immediate, anytime, any-channel banking access, customized to their unique needs, or they’ll turn to the competition.
- Consumer privacy issues such as data security, identity theft, and phishing are highly publicized and alarmingly commonplace.
- Competition from non-banks continues to dilute revenue streams and commoditize traditional products.
In the face of this change, new strategic imperatives now drive the industry. Banks must:
- Re-orient delivery to focus on the customer, not the product or transaction - differentiating through service and relationship building.
- Analyze customer-level information across business lines and product sets, to serve customers with the right services at the right time.
- Accelerate flexibility and adaptability to increase speed to market and deliver services anywhere, any time.
- Enhance risk management and regulatory compliance through increased automation, accountability, disclosure, documentation, and reporting.
- Use technology to not only to cut costs and increase productivity, but also generate new revenue - and build a scalable framework for tomorrow with reusable technology, open systems, and service-oriented architecture.
Stay out in front with Fiserv solutions
Partner with Fiserv to create opportunities, increase efficiency, and enhance customer relationships. For 23 years we’ve helped banks, credit unions, mortgage banks, savings institutions, and finance organizations attain top return on their technology investment.
Choose from complete outsourcing solutions and in-house systems to manage front- and back-office operations. Work with our experts to create a custom solution, add modules, and even interface with third-party solutions.
Our service-oriented architecture enables seamless data exchange across disparate operating systems and platforms. Here are just a few examples of how Fiserv has partnered with clients to help them succeed.
- One of the 25 largest U.S. banks successfully converted an acquired institution with more than 125 branches to its Fiserv core processing system over a three-day period, with no significant operational issues or delays, and no noticeable customer attrition. Executives from both banks cited the excellent partnership with Fiserv as one of the primary reasons for the smooth conversion.
- A $5 billion California bank integrated a Fiserv enterprise-wide data warehouse system with its existing systems, gaining up-to-the-minute, consolidated information on customers, products, transactions, operating performance, and profitability. The bank has gone beyond simply collecting and validating data to analyzing customer and market trends, generating new cross-sell opportunities.
- A Pennsylvania community bank used our straight-through loan origination solution to cut processing time in half and add tens of millions of dollars in new business, by offering new lending products from a single streamlined platform. The integrated system automatically handles all loan documentation, compliance, and management reporting tasks.
- One of the world’s largest financial institutions turned to Fiserv software to manage asset and liability risk for its Australia Banking Group. With one integrated platform, bank executives can monitor portfolio risks, test alternative strategies, develop corporate budgets, and support regulatory compliance through interest rate risk, capital adequacy, and fair value accounting.
- Fiserv leveraged its strategic partnership with a leading risk analytics software vendor to provide credit risk management for the market and treasury portfolios of a $60 billion Middle Eastern bank.
- A Kansas community bank increased new business by adding our remittance and lockbox processing solution to their existing Fiserv check imaging software. Staffing and operating costs dropped, with wholesale and retail lockbox payments processed on the same platform, and the bank now competes against much larger banks through its ability to offer business clients high-resolution images and Internet access.
Explore our solutions and see how you can benefit with Fiserv. [Learn More]
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