Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Mercantile Bank of Michigan has expanded its relationship with Fiserv through the selection of Weiland Account Analysis.
The $1.4 billion Grand Rapids, Mich., bank selected the solution to increase profitability and streamline evaluation and billing of commercial demand deposit accounts.
Developed for financial institutions seeking a customizable, Web-based commercial billing tool, Weiland Account Analysis enables Mercantile Bank of Michigan to capture every billing point, deliver comprehensive, graphical statements to customers and automate input from various systems. Since its November 2013 implementation, Mercantile Bank of Michigan is using the solution's customizable online reports to help capture lost revenue, analyze relationship profitability and identify new business opportunities.
"Weiland Account Analysis makes it easier for our commercial customers to do business with us," said John Byl, SVP and Treasury Sales manager, Mercantile Bank of Michigan. "We now have the flexibility to gather and customize information into a single, seamless billing module that ties everything together with a statement that demonstrates to our customers the value our organization provides. From the bank's perspective, the solution helps us to easily look at relationship overviews to make key determinations."
Mercantile Bank of Michigan expects to save time on month-end processes and report generation with Weiland Account Analysis, and avoid manual data entry with the billing automation function. In addition, the solution's reporting and modeling capabilities automatically quantify products, activity and growth, helping the bank to make key adjustments to billing and approvals.
In addition to Mercantile Bank of Michigan, several other financial institutions have recently made the decision to implement Weiland Account Analysis, including Capital Pacific Bank (Portland, Ore.), Customers Bank (Phoenixville, Pa.), First American Bank (Clive, Iowa), Highland Bank (Maple Grove, Minn.), Legend Bank (Fort Worth, Texas) and PeoplesBank (Holyoke, Mass.).
"Weiland Account Analysis delivers exciting capabilities to financial institutions looking for an innovative, flexible way to capture commercial demand deposit account activity in a single view," said Teri Carstensen, division president, Bank Solutions, Fiserv. "Like the additional financial institutions that have recently selected Weiland Account Analysis, Mercantile Bank of Michigan knows small business banking and commercial clients are essential to future growth and stability."
The bank, which operates on the Premier(R) bank platform from Fiserv, benefits from integration with additional Fiserv products and services, including Business Analytics, Business Process Manager for new account and process management, Director(TM) for electronic content management, Transaction Content Manager for electronic check processing, and website hosting and management services.
A pending merger with Firstbank will double Mercantile Bank of Michigan's assets and add more than 40 branches in the state's Lower Peninsula. Weiland Account Analysis was implemented to help facilitate the newly merged organization's continued focus on small business and commercial banking.