Washington-based Riggs Bank has signed a seven year application service provider (ASP) agreement with Fidelity Information Serivces for retail and commercial loans processing and channel delivery systems.
Riggs says customer accounts will be processed using Fidelity's ASP system, allowing it to reduce IT costs.
The bank will use Fidelity's Advanced Lending Solutions (ALS) Servicing Manager product for its retail lending activity, and the deal and loan origination and servicing components from the vendor's Advanced Commercial Banking System (ACBS) for its commercial lending operations.
The contract also includes Fidelity's Information Warehouse solution and Service Delivery suite - a multichannel customer delivery system that includes teller, call centre and branch automation applications.
Bob Roane, executive vice president and chief operating officer, Riggs Bank, says: "Fidelity's systems will allow us to have a single view of our customers across the enterprise, and will enable sales growth, operational efficiencies and improved customer service."