18 February 2018
visit www.nextgenbanking.co.uk/

New "green" bank selects Fiserv tech platform

11 August 2009  |  6109 views  |  0 Wind farm 2

A Chicago-based self-styled "green" community bank, set to open in the fourth quarter, has contracted Fiserv for the provision of an environmentally friendly technology platform.

GreenChoice Bank says it intends to operate on a "holistically earth-friendly" basis. To help achieve this, the company will use Fiserv's Premier technology to become "nearly paperless".

The vendor says its systems will encourage environmentally friendly practices, such as online banking and bill pay, remote deposit capture, mobile banking, image-based cheque processing, electronic document management, e-statements and signature capture. Other bank processes, such as account opening and ATM deposits, will also be as paperless as possible.

Harold Sherman, founder and CEO, GreenChoice, says: "We saw an opportunity to target the sustainable business community - a growing market segment that has a tremendous amount of energy and enthusiasm yet remains relatively untargeted. The Premier platform from Fiserv enables us to leverage leading-edge technology and at the same time implement earth-friendly policies."

GreenChoice will also use outsourced processing through Fiserv's regional data centre in Brookfield, Wisconsin, making it possible for the bank to operate in a much smaller space with much less hardware on site.

"In the past, banks tended to build very resource-intensive in-house operations considered essential to banking. Due in large part to outsourced processing, we're able to offer every service that any commercial bank could from a 3,800-square-foot space, and we can do it more efficiently, less expensively and more responsibly in terms of conserving environmental resources," says Sherman.

The bank is planning a raft of green initiatives which will include advantaged loan and deposit products for customers who "embrace" sustainability, incentives for employees who reduce their carbon footprint, and the encouragement of "green-collar" job creation through loan practices.

Meanwhile, operations will be based in Chicago's Green Exchange building, a former factory being converted according to Leadership in Energy and Environmental Design (LEED) platinum standards that will house over 100 environmentally friendly businesses.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Deutsche Bank unveils giant NY carbon clock

Deutsche Bank unveils giant NY carbon clock

19 June 2009  |  9243 views  |  1 comments
Citi gets top marks for green data centre

Citi gets top marks for green data centre

23 April 2009  |  11146 views  |  0 comments
SocGen launches green IT programme

SocGen launches green IT programme

06 April 2009  |  6556 views  |  0 comments
BMO Bank of Montreal plans move to green call centre

BMO Bank of Montreal plans move to green call centre

03 December 2008  |  10368 views  |  0 comments
Citi opens 'green' data centre

Citi opens 'green' data centre

14 November 2008  |  9753 views  |  0 comments
Bank of America to cut energy costs by 50%

Bank of America to cut energy costs by 50%

30 July 2008  |  5816 views  |  0 comments
HSBC and Barclaycard talk up 'green' initiatives

HSBC and Barclaycard talk up 'green' initiatives

02 July 2007  |  13277 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comVisit https://www.capgemini.comvisit www.swift.com/your-needs/instant-payments

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10885 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8482 views comments | 15 tweets | 42 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8272 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7927 views 3 | 9 tweets | 6 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job