Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Pinnacle Bank, headquartered in Elberton, Ga., has selected the Precision bank platform with outsourced processing from Fiserv to optimize processes and drive efficiencies for the institution.
Leaders of the $578 million asset bank also based their decision on the platform's innovation, scalability and easy integration with the wide array of additional Fiserv solutions selected by the bank.
"Pinnacle Bank's clients appreciate the personal customer service they receive from a community bank like ours. However, that does not diminish their desire to have the latest digital financial services tools available to them," said Donna Webb, executive vice president and group operations manager, Pinnacle Bank. "Fiserv solutions will enable us to capitalize on innovative technology to match product delivery channels with customer preferences."
With branch traffic declining industry-wide, Pinnacle Bank selected self-service digital solutions, such as enhanced mobile banking, remote image capture and bill payment solutions as part of its strategy for continued growth. For example, Mobile Source Capture from Fiserv will enable consumers and small businesses to safely and securely deposit checks from any location using a smartphone camera, while AccountCreate will deliver online account opening capabilities.
Pinnacle Bank expects it will improve back-office operations and organizational efficiency with the implementation of integrated Fiserv solutions, including Teller Source Capture, which enables real-time balancing of deposits at the teller line. Single sign-on capabilities, standardized reporting and integrated systems will simplify day-to-day operations at the bank. To realize additional efficiencies and savings, Pinnacle Bank is moving from in-house to outsourced processing of its core system.
"Pinnacle Bank has grown significantly in the last five years, and Precision provides a solid, scalable foundation for continued growth and innovation," said Teri Carstensen, division president, Bank Solutions, Fiserv. "Pinnacle Bank joins the more than one-third of all U.S. financial institutions that look to Fiserv to remain competitive, while navigating increasingly complex regulatory demands and changing consumer preferences."
Pinnacle Bank selected additional innovative Fiserv solutions, including Accel payments network and Card Services Debit Processing, Mobiliti for mobile banking, Branch Source Capture and Merchant Source Capture for check capture, CheckFree RXP and CheckFree Small Business for bill payment and presentment, and WireXchange for wire transfers.
Fiserv is the U.S. market leader in account processing services, and more than one-third of U.S. financial institutions rely on Fiserv for account processing solutions and expertise. Fiserv processes 3 out of every 4 online bill payments, and Javelin Strategy & Research named Fiserv "Best in Class" for mobile banking for the second consecutive year.