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Northwest Savings Bank expands Fiserv agreement

05 May 2010  |  2487 views  |  0 Source: Fiserv

Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today that long-term client Northwest Savings Bank, Warren, Pa., has expanded its use of Fiserv solutions and renewed its account processing relationship on the Signature bank platform.

Northwest Savings Bank has increased its asset size by $5.2 billion since becoming a Fiserv client in 1998 and cites the company as a key strategic partner in its success. Large and mid-sized financial institutions rely upon Signature to increase operational efficiency, expand their markets and rapidly deliver a complete range of customer-focused products and services. Signature is fully integrated with other best-in-class Fiserv solutions to provide a complete enterprise-wide solution for financial services delivery.

Northwest Savings Bank heavily utilizes the Signature bank platform with Communicator for flexibility via service oriented architecture (SOA). Currently, the bank also uses Nautilus(R) Enterprise Content Manager and Bank Intelligence from Fiserv. As part of their expanded relationship with Fiserv, the bank will implement the Prologue(TM) accounting suite and Management Planning and Control for corporate performance management along with additional upgrades within Signature and Nautilus.

"When we signed with Fiserv in 1998, we had $2.9 billion in assets with a business plan to grow both organically and through acquisition. Now, we have $8.1 billion in assets and continue to aggressively move forward. We've been able to leverage our relationship with Fiserv as we grow and consider the company a strategic partner in our success," said Andrew Young, senior vice president, chief information officer, Northwest Savings Bank. "Fiserv has a solid track record for scalability and flexibility - that has been and will continue to be very important to our organization. We have relied on Fiserv for this reason, as well as for new products and services that deliver high value."

"The long-term growth and success of our clients is the ultimate measure of the effectiveness of the solutions we bring to market. Through the financial institutions that use the Signature bank platform, we have found that our partnership enables us to learn what thee banks need to achieve their unique business goals," said Tony Catalfano, division president, Bank Solutions, Fiserv. "We rely on that trusted relationship and are pleased that our clients are choosing to expand the number of integrated, best-in-class solutions from Fiserv to increase efficiency and create seamless business processes."

Northwest Savings Bank is an example of the growing trend among long-term accounting processing clients expanding their relationships with Fiserv. Banks seek enterprise-wide solutions representing all of the Fiserv core competencies - processing services, customer and channel management, insights and optimization, risk and compliance, and payments.

"Within our U.S. client base, we have seen a steady increase in the number of Fiserv solutions to meet enterprise wide technology needs," added Catalfano. "Financial institutions are responding to today's economic challenges by making strategic technology investments that will provide cost savings while providing end users with a more personalized and unique experience. This is further evidence of the digital transformation that Fiserv sees in our industry as banks seek to change the landscape of financial service delivery."

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