Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that Huntington State Bank, a locally owned and operated community bank with assets of $240 million serving deep East Texas, has selected the Precision bank platform to provide an enterprise-wide technology solution to accommodate current and future growth.
Huntington chose in-house processing on the Precision platform from Fiserv, as well as a host of value-added solutions that will streamline the bank's operations and enhance customer service. These solutions include Internet Banking, Director, Integrated Teller and Cash Management for Precision, in addition to WireXchange. Additionally, Huntington will deploy Business Process Manager to improve workflow processes in anticipation of future expansion. This multi-product implementation from Fiserv reinforces the company's core competencies in Processing Services, Customer and Channel Management and Payments.
"We've experienced substantial growth over the past 40 years, and we needed a system that can grow with us as that pattern continues," said Ken Marshall, chief executive officer of Huntington State Bank. "The Precision platform's scalability is a perfect fit for our bank, which has nearly tripled its asset size in just 12 years. We have ambitious plans for continued growth and Fiserv can help us keep moving forward."
Fiserv gave Huntington State Bank the ability to move from multiple vendors to one partner, which was a key differentiator in the bank's decision to deploy Precision. "We knew from the start that we wanted tight integration, as opposed to interfacing multiple solutions," said Marshall. "By deploying integrated solutions from Fiserv, we'll be able to enter information once and have it flow into all our different applications."
Huntington executives also cited the ease and availability of continuous education and training from Fiserv as important reasons for its change to Precision. Huntington will employ online education, on-site training and self-help portals, all available from Fiserv. "We want to make sure we're using 100 percent of our platform's capabilities," said Marshall. "Training and education are an absolute necessity to make that happen."
Huntington State Bank took an innovative and comprehensive approach to the decision-making process by gathering input from every department at the bank. "From our division presidents to the new accounts clerks, everyone had a vote in choosing Fiserv," said Marshall. The entire staff is just as involved in the upcoming fourth quarter conversion, with the overall message that positive changes are on the way. "We're very enthusiastic as we anticipate what Fiserv will bring," said Marshall.
"Huntington State Bank's legendary customer service and phenomenal growth make Fiserv solutions an excellent fit for the bank," said Mike Young, president, Bank Solutions and Credit Union Solutions at Fiserv. "We're proud to support Huntington's needs now and in the future."