Head office: 255 Fiserv Drive, Brookfield, WI 53045 Tel: +1 262 879 5000 Email:
client.info@
fiserv.com Other Signature offices: Australia, China, Colombia, Mexico, Poland, Singapore, UK Website:
www.fiserv.com Contact: Carol Cowan (VP product management and marketing). Email:
carol.cowan@
fiserv.com Founded: 1984 Ownership: Public company on Nasdaq, FISV Number of staff: Around 20,000
Cleartouch
Within its lower end banking offerings, Fiserv has Cleartouch, a browser-based banking platform, with account processing, asset management, branch banking, consumer and corporate online banking, mobile banking, payments processing, and risk, fraud and compliance support. Low-end banks are is main focus and Fiserv emphasises the real-time aspects of the system. As an idea of typical customer profile, a clutch announced in mid-2012 comprised Mass-based Mansfield Bank ($372
Premier
The long-standing Premier gains deals typically at the higher end of the community bank sector, such as 2013 signings, New Jersey-based Kearny Federal Savings Bank, with $3.1 billion in assets, and Alabama-based Southern Independent Bank ($183 million). However, Illinois-based Busey Bank, with $4 billion in assets, set about moving from Premier to CSI’s Nupoint, in 2012. And in the same year, Bremer Bank signed in July to replace a 25-year-old version of Premier, taking FIS’s IBS. Heading in the right direction in 2012, from Fiserv’s viewpoint,
were Capital Bank (with $420 million in assets), which signed for Premier in mid-year, and Chicago-based Oak Bank (with $220 million in assets), which opted to replace Core Director from Jack Henry, which it had been running in-house for 20 years. Fiserv had what Rob Sullivan, vice-president and chief financial officer at the latter bank, called an ‘aggressive play’ strategy in the retail
Precision
The PCS-derived system continues to gain sales in the lower end community bank sector, but it also loses some as well. For instance, in 2013, new-name signings included Pinnacle Bank in Georgia ($578 million in assets), Los Angeles-based GBC International Bank ($456 million) and Virginia-based Bank of Botetourt ($320 million). One bank moving away from Precision in 2013 was Casey State Bank (CSB), with ten branches across Illinois and Indiana and over $250 million in assets, taking CSI’s Nupoint on an outsource basis instead. CSB opted against upgrading its existing in-house Fiserv system, which it had been using for six years. The bank’s president and CEO, Brad Wolfe, felt there were some issues with the incumbent vendor. ‘We don’t get a lot of service out of them,’ he said. He added that whilst there was a great sales pitch from Fiserv, he felt the vendor’s attention to the bank wavered after implementation.
US Financial Services Technology Market Report |
www.ibsintelligence.com 73
million in assets), Greenfield, Ohio-based The Home Building & Loan Company ($43 million), Maine-based Kennebec Federal Savings & Loan Association ($76 million), New Brunswick, NJ-based Magyar Bank ($520 million), Iowa-based Webster City Federal Savings Bank ($91 million), and Mass-based Winchester Savings Bank ($533 million). As usual, the banks took an array of other Fiserv applications around the core. The system sells in reasonable numbers and the supplier claimed that in 2013 more than 50 users renewed their contracts.
market. ‘Fiserv is an innovator and an investor, and integrating all the different products for all of our customers with one easy access was a big variable for us.’ Another new win for Premier was Maine-based Katahdin
Trust Company. The new technology was intended to enable the $577 million bank to take on larger competitors, by bringing new products and services to market, said president and CEO, Jon Prescott. Nebraska-based FirsTier Bank ($226 million in assets, six branches) was added, going live in Q1 2014. New Jersey- based Sussex Bank ($533 million, nine branches) followed. In 2015, Fiserv embarked on the replacement of rival FIS’s
Bankware system at Bank of the Ozarks, a $6.8 billion regional bank with roots in Arkansas. The bank has grown significantly via acquisitions over the last few years and needed to unify its operations on a common solution, in this case Fiserv’s Premier. The bank described the venture as a ‘monumental initiative’ and its ‘biggest technology advancement’ over the last 30 years.
company details
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