Fiserv signs contract to support MetLife

Fiserv signs contract to support MetLife

MetLife has selected Fiserv to provide the technological framework for its push into the US consumer banking market. The US insurance company is among the first large financial services firms to take advantage of the recently enacted Financial Services Modernisation Act by expanding into another industry.

The technological framework for the proposed bank includes the Fiserv Comprehensive Banking System (CBS) for core processing, as well as an Internet banking front end, a customer relationship management system, call center software, check processing, plastic card production and fulfillment, electronic funds transfer, and back-office services.

MetLife executive vice president Judy Weiss says the move into banking is still in the planning stage, but the company hopes to be ready for a launch sometime next year.

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