First National Bank of South Carolina chooses Fiserv platform

Source: Fiserv

Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that First National Bank of South Carolina, a community bank with more than 100 years of experience in the Charleston area, has selected the Precision bank platform from Fiserv to provide an enterprise-wide technology solution.

The $162-million bank headquartered in Holly Hill, S.C., chose Fiserv for its account processing and value-added solutions that will grow with the expanding financial institution.

After 24 years of processing in-house on a previous platform, First National Bank of South Carolina chose outsourced processing on the Precision platform. "The regulatory scrutiny and risk associated with in-house processing became overwhelming for us," according to Ron Anderson, the bank's president and chief executive officer. "Fiserv offered the best solution to meet our needs now and into the future."

In addition to increased efficiencies in account processing, First National Bank of South Carolina expects its fourth-quarter 2009 conversion to result in tighter enterprise-wide integration of its applications. "We appreciate the integration Fiserv provides, which will enable our organization to utilize a single partner as we bring a variety of services to our customers," said Anderson. In addition to Precision, First National Bank of South Carolina chose Director, Business Process Manager and Internet Banking for Precision, in addition to CheckFree(R) RXP(SM) for bill payment.

In addition to the solid reputation of Fiserv and the solution's scalability, Anderson cited ease of use as a key factor in the bank's decision to deploy Precision from Fiserv. "The Precision components are very user-friendly, and something our employees can learn quickly. We were also impressed with the breadth of products and innovative services available from Fiserv" Anderson said.

Fiserv solutions will streamline processes for customers, including account opening. "The new account opening application will enable customers to open accounts quickly," said Anderson. "This means that First National Bank will create a much better first impression with new customers."

Additionally, because of the integration of Fiserv solutions, navigation from one system to another will be seamless, saving time for both bank staff and customers. "Having our systems talk to each other across the enterprise is a huge advantage in giving the levels of service customers intrinsically expect today," said Anderson, noting that by deploying Precision, the maintenance of customer information in various applications will also be seamless.

"First National Bank's long history of service to the people of South Carolina is impressive, and Fiserv is proud to partner with this well-capitalized and growing financial institution," said Mike Young, president, Bank Solutions and Credit Union Solutions, at Fiserv. "Their selection of the Precision platform from Fiserv will undoubtedly help them achieve even greater efficiencies, increased profitability and continued growth."

Fiserv is a trusted partner to thousands of banks across the world, delivering options in outsourced platforms for banks of any size. The partnership with First National Bank reinforces the Fiserv core competency in processing services among other areas of expertise.

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