21 August 2017
visit www.avoka.com

Innovative Bank switches to Fiserv's core processing platform

19 July 2006  |  2050 views  |  0 Source: Fiserv

Fiserv Inc. (Nasdaq:FISV) announced today that its Information Technology Inc. (ITI) business unit has signed Innovative Bank, ranked among the top Small Business Administration (SBA) lenders in the U.S., to convert to its Premier core solution.

Innovative Bank, based in Oakland, Calif., chose ITI's Premier solution because of its seamless integration and superior loan functionality to handle the bank's loan accounting and core processing needs. Innovative Bank will convert to the system in October 2006, operating through the Fiserv ITI Outsourcing data center in Chatsworth, Calif.

"We have a unique model, with a portfolio of more than 12,000 Small Business Administration loans from across the country and new loans coming in at a rate of 400 a month. Efficiency is key to maintaining our high level of service," said Bill Demmin, Innovative Bank's chief financial officer. "Because of this incredible volume, we needed a loan system that effectively integrates with our general ledger and other core functions. Premier provides that capability."

Available for both outsourced and in-house environments, ITI's openly integrated Premier software offers products for virtually every function, including Internet banking, enterprise content management, executive intelligence, relationship management, branch automation and core accounting. All are available on the industry's most popular hardware platforms.

"I truly appreciate the fact that ITI has designed a totally integrated package and that we're able to work with one vendor instead of many for the majority of our banking software needs," said Demmin. "Our research also shows that the ITI data center we'll be working with is a first-class service organization." Fiserv ITI Outsourcing has six regional data centers located throughout the United States.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.abe-eba.euvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
10444 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8697 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
8550 views 0 | 3 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8391 views comments | 10 tweets | 7 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
7841 views comments | 16 tweets | 16 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job