Bisys wins NVE Bank, Bank of Hawaii, NPH contracts

Bisys wins NVE Bank, Bank of Hawaii, NPH contracts

BPO software vendor Bisys is reporting a hat-trick of contracts with NVE Bank, Bank of Hawaii and National Planning Holdings.

NVE Bank has signed a multiple services outsourcing agreement under which Bisys will provide the New Jersey-based bank with enterprise-wide automation including deposit and loan processing, commercial and business services, electronic and Internet banking, network services and business intelligence software for profitability analysis, marketing and data warehousing.

Bisys won the deal following a comprehensive evaluation by the bank of four national outsourcing vendors. Robert Monteith, NVE Bank, says the broad capabilities of the vendor's solution and its ability to support the bank's ongoing growth were major factors in the selection.

"Bisys was the only single-source for everything we needed, such as one integrated lending system for commercial, retail and mortgage loans," says Monteith.

In a seperate deal, Bisys has won a contract to provide long-term customer Bank of Hawaii and its balance forward retirement plans with administrative and recordkeeping services. Under the agreement, Bisys will service approximately 170 balance forward plans and their more than 2500 plan participants with a suite of services, including contribution processing, periodic account valuation, participant statement generation, sponsor reporting, non-discrimination and compliance testing, and distribution processing.

Sherry Buckley, vice president and manager, Bank of Hawaii Investment Services Group, says that Bisys' recordkeeping and administration platform is an ideal solution for smaller balance forward retirement plans that are inherently more costly to service.

The vendor has also has been selected to support the insurance sales strategies of National Planning Holdings, Inc. (NPH) and its four affiliate broker-dealers, National Planning Corporationâ; SII Investments, Inc.; Investment Centers of America; and Invest Financial Corporation.

Bisys now supports NPH's national network of more than 2600 investment representatives with access to multiple lines of life-related insurance, including traditional life, fixed annuities, long-term care, and disability.

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