Columbia Bank selects Fiserv DNA account processing platform

Source: Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Columbia Bank, based in Fair Lawn, New Jersey, has selected the DNA(TM) account processing platform and more than 20 additional Fiserv solutions to accelerate its growth.

The $4.7 billion asset bank will use the Fiserv platform to increase efficiency and expand relationships with its retail and commercial customers.

Columbia Bank is the largest mutual bank headquartered in New Jersey and the fourth largest in the nation. This well-capitalized community bank needed a modern technology foundation that could scale with its long-term ambitions.

After a thorough review of core processing systems, Columbia Bank selected DNA from Fiserv.

"Our decision to expand our relationship with Fiserv is an investment in the future of the bank, and aligns perfectly with both our commitment to exceptional customer service and our long-term approach to sustainable community development," said Thomas Allen, senior executive vice president and COO, Columbia Bank. "The scalability of DNA aligns with our growth potential and will enable us to boost efficiency through system integration and consolidation. This real-time platform will enable us to personalize our service and better understand customer needs."

One of the main reasons Columbia Bank selected DNA was for its unified, person-centric design that combines robust retail, mortgage and commercial functionality into a single platform built around the customer. Bank staff will have a 360-degree view of customer relationships for more personalized, real-time service with the flexibility to quickly create and introduce new products.

DNA features an open architecture developed using contemporary, standards-based components, which Columbia Bank will use to integrate over 20 Fiserv solutions. The bank will extend the strong commercial functionality of DNA with the award-winning Weiland Account Analysis(TM) billing engine to attract and serve area businesses - a key growth area for the bank. LoanLaunch(TM) from Fiserv will help staff originate and close more mortgage, consumer, home equity and business loans with fewer resources while solutions like PEP+(R), WireXchange(R), and debit processing help streamline payments.

Columbia Bank also will have the ability to customize and enhance its DNA platform with user-created DNA applications, called DNAapps(TM). DNAapps can be used to quickly add new functionality, custom screens and system integrations for a more flexible, nimble approach to core development. DNA users can create their own DNAapps using the DNAcreator(TM) toolset, as well as download those created by others from the DNAappstore(TM) - the first collaborative online marketplace for custom core extensions.

"Columbia Bank is a long-time Fiserv client, and their selection of DNA is a testament to the solid relationships Fiserv builds with clients and our ability to support them as they grow and change," said Teri Carstensen, president, Bank Solutions, Fiserv. "DNA will help the bank serve its expanding customer base more efficiently and scale with its growth well into the future."

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. DNA has been recognized by industry-leading analysts for its technology, user experience and breadth of functionality, including two recent awards from CEB TowerGroup for "Best-in-Class" product management and customer-centricity.

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