Fiserv CBS Worldwide, a business unit of Fiserv, Inc. (NASDAQ: FISV), announced today that Lake City Bank, a Fiserv client since 1983, has successfully implemented a new account opening process using the Fiserv Aperio customer relationship management solution.
The new solution streamlines the new account opening process for the bank, reducing training time by 60 percent for new employees. Relying on Fiserv Aperio, Lake City has immediately realized productivity gains, cutting the average time to open an account by more than 50 percent, decreasing back-office maintenance and improving customer service.
"With Fiserv Aperio we benefit from one of the best software solutions for customer interaction and process improvement on the market. We can also treat all our customers as individuals, better respond to their needs and introduce a superior staff and customer experience into the bargain," said Angie Ritchey, vice president of operations and technology, Lake City Bank.
Lake City Bank, headquartered in Warsaw, Indiana, is the primary subsidiary of Lakeland Financial Corporation (NASDAQ: LKFN), a $2.2 billion publicly traded bank holding company. With 43 offices located in 12 Northern Indiana counties and a loan production office located in Indianapolis, Lake City Bank was seeking an application that could take the pain out of new account opening for both staff and customers. Lake City Bank chose Aperio to help them deliver a vastly better experience to their customers while simultaneously generating a quantifiable return on investment.
Working with the bank, the Fiserv team helped Lake City identify key processes, mapping out refinements to deliver productivity gains while improving customer service using Aperio. A customer relationship management and business process solution, Fiserv Aperio provides financial institutions with the ability to enable customer centricity. Aperio integrates and automates business processes, tracks customer interactions across multiple channels and gives organizations the capability to proactively make decisions about how to proceed with their customers based on real time data.
Fiserv Aperio affords Lake City Bank the flexibility to modify processes and build a diverrse customer base as it grows, while differentiating itself from its competition.
"Aperio allows our clients to improve efficiencies in their business processes while providing them an immediate return on their investment. Additionally, the solution helps our clients to better understand their customers and gives them the freedom to support their own desired growth," said Tony Catalfano, president, Fiserv CBS Worldwide.
Since the implementation of Fiserv Aperio in January 2008, Lake City Bank's customer service representatives can now set up accounts faster, make changes at the point of interaction, engage with the customer on a deeper level and generate more business from each transaction. With Aperio, Lake City Bank has been able to meet their goal of implementing a new account opening system that delivers efficient business banking with a personal touch.