FIS™ (NYSE:FIS), one of the world's largest providers of banking and payments technology, today announced that Cole Taylor Bank has elected to replace its current core processing solution with FIS' Integrated Banking Services (IBS), a core system offering within the FIS Core Account Processing suite. The banking subsidiary of Taylor Capital Group (NASDAQ:TAYC), Cole Taylor Bank is one of Chicago's largest independent commercial banks with $4.4 billion in assets.
"Cole Taylor Bank's decision to partner with FIS was grounded in our ability to provide a broad, end-to-end, integrated solution across all business and delivery channels"
Cole Taylor Bank will deploy IBS, a client-centric core banking platform with a broad offering of financial services solutions, throughout its banking centers to meet the evolving business objectives of their organization. As part of its extensive agreement, Cole Taylor Bank has selected an extensive suite of additional solutions that include: bill payment, electronic banking, customer relationship management, risk, fraud and compliance, and commercial treasury. These solutions are fully integrated with FIS' IBS core banking platform, providing Cole Taylor Bank with an end-to-end solution that will support improved customer service
"After an extensive evaluation of best-in-class solutions for our critical core banking platform, we determined that the solution offered by FIS was extremely well-suited to Cole Taylor's high quality, high touch client approach," said Mark A. Hoppe, president and chief executive officer, Taylor Capital and Cole Taylor Bank. "The solutions offered by FIS will allow us to provide a broader and deeper set of products and services for the increasingly sophisticated needs of our mid-market commercial banking clients."
"Cole Taylor Bank's decision to partner with FIS was grounded in our ability to provide a broad, end-to-end, integrated solution across all business and delivery channels," said Anthony Jabbour, executive vice president, FIS Financial Solutions Group. "Cole Taylor Bank is a very sophisticated commercial bank and the FIS suite of products will allow them to effectively compete with larger regional and national competitors by offering a more expansive set of offerings."
IBS is a highly flexible and open core processing solution to accommodate financial institutions that need to easily integrate diverse technology with minimal risk and disruption to their business operations and to their customers. It is industry recognized for its robust functionality, scalability and strong integration capabilities and is the leading outsourced retail and commercial banking solution among mid-tier U.S. banks.