the bank to monetize its mobile channel for the first time. The bank was using a range of Fiserv applications, including Mobiliti for mobile banking and payments, CheckFree RXP, Branch Source Capture, LoanServ, Retail Online and EFT Processing. Oregon-based Umpqua Bank decided in 2014 to
standardise on IBS when it merged with Sterling Bank to create the West Coast’s largest community bank (it has retained the Umpqua brand).
Evans Bank, a 13-branch New York State- based community bank, is seeking to go live with FIS’s Horizon core banking system in September of 2015. It will be replacing a heavily customised version of a system called IBS from Suchak Data Systems, which ended up owned by Evans Bank following the bank’s purchase of Suchak in 2008. FIS had a long-standing relationship with Evans Bank, through its use of the ImageCenter cheque imaging system. Horizon has its roots in the late 1980s and runs on the IBM iSeries. Texas-based Westwood Trust has chosen US-based
software heavyweight, FIS, for its trust and investment processing in a multi-year outsourcing deal in October 2015. Westwood will use FIS’s wealth management suite, PortfolioMARC, which is used for managing, assessing, reporting and consulting on client’s accounts. The Westwood deal is on top of FIS acquiring US-based wealth management firm Reliance Financial for $110 million last year. Louisiana-based Community Trust Bank of Ruston has switched from FIS’s Bankway to its Integrated Banking Services (IBS) core banking system in 2015,– a move designed to halve processing costs. The bank had been using Bankway since 1986, but says due to rapid expansion it needed a new system to match the demands of its customers. In July 2015, National Bank Holdings, a US-based holding company of a group of local community banks, began implementing a new core banking software, IBS from FIS. In addition, it is also deploying FISs internet and mobile banking applications and a cheque imaging system, Check Image. The contract with FIS was inked in late 2014. Massachusetts-based Avidia Bank partnered with FIS in August 2015, to offer cardless ATMs to its customers. The new feature will allow customers to use the ATM machine through a mobile app, then step up to the machine to receive their cash and services. The new feature joins other services powered by FIS at Avidia Bank, including remote cheque deposits and P2P payments. The bank’s app will use touch ID and passcodes on the device itself (as opposed to generating temporary authorisation codes) to prevent the possibility of card skimming and fraud. The Clearing House (TCH) teamed up with FIS to deliver a new real-time payment system for the US in October 2015. TCH
is using FIS’s technology to expand and speed up delivery of the system, and TCH says FIS’s network of over 3,000 financial institutions will help. This latest development demonstrates TCH is getting serious about the new system. US-based FIS will provide the infrastructure, and UK-based Vocalink would help build and deliver core elements. Missouri-based Landmark Bank selected FIS for a complete overhaul of its digital banking offerings in November 2015. FIS has been tapped up by Landmark to provide it with a full suite of digital banking solutions, including both its business and consumer mobile services. The new systems will enable Landmark Bank to improve integration with FIS’ long-standing core banking system, Bankway. The two firms hold a strategic partnership agreement, which would have, no doubt, been a factor in the selection process. New Mexico-based Los Alamos National Bank (LANB) also
selected FIS as its new core banking provider in November 2015. LANB tapped up the US technology vendor to modernize its processing capabilities as well as improve integration between its various products and the functionality of its digital and mobile banking capabilities. The new system, Integrated Banking Services (IBS), will be delivered on an outsourced basis, replacing an in-house legacy development. Furthering its efforts to create digital experiences that drive positive, rewarding relationships between financial institutions and their customers, FIS has announced the opening of its new Digital Innovation Lab in San Francisco. FIS created its Digital Innovation Lab to nurture the ideation and development of disruptive digital solutions that empower financial clients and commerce. This is FIS’ fourth innovation lab, highlighting the company’s effort to continually reinvent the global financial industry. Other labs are located in New York City, London and Bangkok.
US Financial Services Technology Market Report |
www.ibsintelligence.com
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