Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Katahdin Trust Company has chosen the Premier bank platform, as well as a comprehensive selection of additional solutions from Fiserv.
Headquartered in Houlton, Maine, the $577 million bank cited the scalability and integration of Fiserv products and services as key factors in its decision to choose Fiserv.
"Bringing leading-edge technology under one Fiserv umbrella will help us to create new efficiencies throughout our organization, remain competitive and improve our bottom line," said Jon Prescott, President and CEO, Katahdin Trust Company. "Just like consumers and businesses across the country, our customers want the latest technology. With Fiserv, we will be positioned not only to provide state-of-the-art products and services that are available now, but also to anticipate and deliver the technological innovations still on the horizon."
Because of its partnership with Fiserv, Katahdin Trust Company will be able to effectively compete with larger banks in its market by quickly bringing innovative products and services to its customers. One such product, Mobile Source Capture(TM) from Fiserv, turns a smartphone into a deposit-making device, enabling consumers and small businesses to safely and securely deposit checks from any location.
"Katahdin Trust Company has an impressive record of success in this rapidly evolving industry, as evidenced by its recognition for six consecutive years as one of the Top 200 Community Banks in the country by American Banker magazine," said Teri Carstensen, president, Bank Solutions, Fiserv. "Fiserv offers Katahdin Trust Company and other financial institutions like it new opportunities for innovation, increased efficiencies and continued growth. By partnering with Fiserv, the bank joins our continually growing list of successful clients that rely on Fiserv to help deliver the products, services and delivery channels that consumers have come to expect from banks of all sizes."
With headquarters in a rural location, Katahdin Trust Company relies on technology like business online banking, wire services and check capture to make business banking easier and expand beyond the bank's traditional geographic footprint. Fiserv products and services that improve offerings for business customers are especially important for Katahdin Trust Company, which has received the preferred lender designation from the U.S. Small Business Administration. This designation is reserved for the SBA's most experienced and trusted lenders with a proven record of lending performance and excellence.
Other innovative solutions from Fiserv selected by Katahdin Trust Company include Popmoney(R) for person-to-person payments, CheckFree(R) RXP(R) for bill payments, Mobiliti(TM) for mobile banking, Business Online(TM) and Retail Online(TM) for online banking, Branch Source Capture(TM), Merchant Source Capture(TM) for check capture, WireXchange(R) for wire transfers, Director(TM) for electronic content management, Business Process Manager for new account and process management, the ACCEL/Exchange(R) Network, Debit Processing and card production services. Katahdin Trust Company will operate the Premier bank platform in an in-house environment.
Fiserv is the U.S. market leader in account processing services for financial institutions. More than one-third of U.S. financial institutions rely on Fiserv for account processing solutions and expertise.