Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that Pacific Global Bank of Chicago has selected the Premier bank platform and outsourced processing services from Fiserv.
Located in the heart of downtown Chicago's Chinatown, Pacific Global is a privately held bank founded in 1995 to meet the needs of first- and second-generation Asian immigrants.
The $177-million bank is expanding its reach into new demographic markets, including the young professionals who live and work in the downtown area. Pacific Global chose Fiserv to deliver innovative products and services that will attract and retain customers who demand feature-rich offerings, including Internet banking, online customer service that interacts with internet customers in real time, convenient funds transfers, online bill pay, telephone banking and Merchant Source Capture(TM). Also, the profitability module helps the bank to identify profitable customers and underserved customers, design and cross-sell products to better serve them and enhance the bank's bottom line.
Pacific Global also selected Fiserv for its ability to implement a fully integrated system that supports its growth, provides increased efficiencies, and makes processes simpler and less redundant. According to Lisa Pun, Pacific Global assistant vice president, Fiserv integration will decrease the bank's operational burden by reducing training hours, eliminating data re-entry, and improving processes in all areas. At the same time, leading edge offerings like Teller Source CaptureTM for Premier will change the way the organization functions by automatically capturing, validating, endorsing, balancing and managing check deposits when they arrive at the teller window.
"With so many regulatory changes, it is difficult and inefficient to manually track accounts for violations," said Pun, noting that Fiserv technology monitors accounts for compliance issues. "These are indispensible solutions that will save our organization time and capital. Investing in more reliable and efficient technology like Premier from Fiserv is money well spent."
The Premier solution for Pacific Global Bank includes outsourced account processing services through a Fiserv data center, Internet banking, bill pay, cash management, branch banking and source capture solutions, as well as other Fiserv products. This multiproduct implementation represents solutions from all five Fiserv core competencies: Processing Services, Customer and Channel Management, Business Intelligence and Optimization, Risk and Compliance, and Payments.
"Pacific Global chose to outsource Premier, a fully integrated enterprise-wide bank platform, as part of its strategy to attract and retain customers with innovative product offerings, while increasing internal efficiencies and addressing regulatory issues," said Jim Cross, president of the Central Region Data Center for Fiserv. "The bank's customer-centric approach makes good business sense for the community, and Fiserv looks forward to an enduring, successful partnership with Pacific Global."