Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that $970-million Liberty Bank of Springfield, Mo., a locally owned and operated community bank, has selected the Premier bank platform from Fiserv to process accounts in an in-house environment.
To offer customers the seamless experience that full integration brings, Liberty bank chose a comprehensive Fiserv solution that includes account processing services, online banking, electronic document management, bill pay, and other Fiserv products.
"After an extensive due diligence process, we found that the features and functionality of Premier were superior to those offered by the other providers we considered," said Blake Thomas, Chief Operating Officer for Liberty Bank. "Fiserv also offered strong, integrated online banking capabilities that are rock solid in terms of stability. Our more than 22,000 customers banking online won't tolerate downtime. When we started losing customers due to this issue, we knew we needed to find a partner like Fiserv."
Premier's mature service-oriented architecture (SOA) and seamless integration provide the open integration, agility, efficiency and ease-of-use that Liberty Bank needs. With this architecture, financial institutions can easily collect data from multiple sources, and give staff and customers real-time access to information. SOA makes it possible for Liberty to rapidly deploy new solutions, while maximizing flexibility and integration. According to Thomas, the fact that Fiserv applications use SOA with the Microsoft.NET platform was a key factor in Liberty Bank's choice of technology providers.
Other integrated Fiserv products selected by Liberty Bank include Retail Online(TM) (formerly eCom) for Internet banking, Mobile Money(TM) for mobile banking, WireXchange(R) for wire transfers, and CheckFree(R) RXP(R) for bill pay. The bank has already implemented AccountCreateSM, which gives consumers the convenience of opening and funding accounts online. This multi-product implementation represents solutions from all five of the Fiserv core competencies: Processing Services, Customer and Channel Management, Business Intelligence and Optimization, Risk and Compliance and Payments.
In addition to the comprehensive suite of products and services from Fiserv, Liberty Bank was impressed with the breadth of its conversion plan, which includes large-scale deployment of resources. According to Thomas, the bank was particularly impressed that, compared to its competitors, the Fiserv plan included four times the number of people dedicated to Liberty's smooth and successful migration. The Premier team sees to it that sufficient resources are deployed both remotely and onsite, to assure that new clients are up and running as quickly as possible, and with minimum disruption to the bank's operations and customers.
"As always, we're committed to Liberty Bank's success, beginning with their conversion and, of course, for many years to come," said Dave Wegman, general manager, Premier, Fiserv. "We want to be sure they can take full advantage of all the Fiserv solutions that are now available to them."