Take the example of First National Bank of Pandora, headquartered in Ohio: they were looking for a single technology provider that could deliver a more consistent experience for customers who prefer digital channels such as mobile or online banking. The bank also wanted to simplify vendor management and give their staff tools that could make their jobs easier and more productive—which would translate into better customer service. Fiserv was their first choice of provider considering its technological innovations in the industry that has clinched global recognition in the area of financial control. The bank, which has $153 million in assets, now benefits from efficiencies created by Fiserv’s solutions for workflow automation and content management and has access to a large community of Fiserv’s clients who share insights with each other.
According to Yabuki, the pace of change is accelerating, and people’s expectations for innovative experiences are the same for financial services as they are for retail or any other facet of life. “Money is emotional. And financial institutions are on the front lines of that energy, helping people navigate the complexity of managing it. Innovation in this industry is not ethereal; it’s about solving real-world problems for real people. The financial services people use—and the technologies that enable those services—have to fit seamlessly and beneficially into their lives,” asserts Yabuki.
Innovation in this industry is not ethereal; it’s about solving real-world problems for real people
The Banking Champion
Since its inception in 1984, Fiserv has culminated into a unique technology partner that has been assisting financial institutions worldwide to enhance their capacity and agility and find better ways to serve their customers. The company offers an efficient banking solution—Signature— that helps customers deploy new products and services quickly to compete effectively with local peers, regional players, and national brands. From account processing and enterprise integration to multichannel delivery—including branch, phone, ATM, online, tablet or another mobile device—and everything in between, Signature supports an organization’s strategic goals to build revenue which is within their reach. For this purpose, Signature uses unique points of differentiation to attract and retain profit-generating customers and drive payments, transactions, lending, and debit use. The solution also assists in managing risks by offering the means to stay ahead of regulatory compliance, reduce fraud, and minimize risk, along with flexible and user-friendly solutions that help firms personalize service according to the way their customers prefer.
With the help of Signature, clients can harness the data captured within the core applications to solve complex challenges and make profitable and decisions. The application also lets the users optimize efficiency through time-saving functionalities that reduce repetitive steps, allowing financial institutions to cut costs, increase profits, and boost productivity.
Numerous organizations have benefitted from Signature’s robust mix of modules and Fiserv’s long-standing bearing in the market. As the Chairman and CEO Mutual of Omaha Bank—one of Fiserv’s esteemed clients—says, “Our decision to partner with Fiserv was based on the company’s solid history with large financial institutions throughout the U.S., coupled with the scalability to meet our future needs,” says.
Achieving Speed to Market
New opportunities and challenges are inevitable phenomena in the financial landscape and consumers have learned to embrace the digital age as they put forth their demand for choice, flexibility, speed and high levels of service to financial services providers. On one hand, there are many established players who are burdened by complicated and outdated technology systems—which have hindered their ability to meet these burgeoning consumer expectations. On the other hand, for the new entrants, on top of the similar challenges of speed to market, they have the additional predicament of significant set-up costs and stringent regulatory procedures. Fiserv is accelerating the transformation of the financial services industry with the creation of Agiliti, a ‘Software-as-a-Service’ (SaaS), ‘pay as you grow’ banking technology offering, available on a modular basis. It has been designed exclusively to enable institutions seeking a cost-effective, versatile, and quick-to-market solution. The solution offers a pre-built, end-to-end framework supporting the customer lifecycle from start to finish; a preferred suite of external products and services; and ‘plug-and-play’ integration.
Meeting the Demands of Tomorrow
Recently named as one of the World’s Most Admired Companies, Fiserv has annual revenues in excess of $5.5 billion, making it a leading innovator in financial services, with one out of three U.S. financial institutions relying on their account processing solutions. More than 21,000 Fiserv associates worldwide are committed to earning their clients’ trust every day, delivering hundreds of solutions that touch almost every aspect of financial services.
Based on the advanced analytics implemented in their solutions, Fiserv is today manifesting the experience and expertise that they derived from previous engagements. For the future, they want to continue investing in analytics and provide more visualization of relationships between financial advisors and customers to detect different types of financial crimes. “Our clients look to us to keep everything working together, delivering a high-performing, secure and consistent user experience,” says Yabuki. “A large part of our mission is to enable our clients to deliver financial technology solutions and customer experiences that enhance differentiation and build their businesses.”