Fiserv upgrades Premier bank platform

Source: Fiserv

Fiserv (NASDAQ:FISV), a leading global provider of financial services technology solutions, today unveiled version 8.0 of its Premier bank platform, a comprehensive, scalable account processing solution from Fiserv.

By transforming the ways in which customer and account information is stored, accessed and displayed, this new version of Premier can help banks rapidly understand and respond to customer banking needs. This comprehensive view of customers' direct and indirect relationships with a financial institution optimizes customer relationship management and enhances the customer service experience.

"In one click, we're now able to know everything about a customer's relationship with our bank and that leads to better informed decisions about what additional products and services would benefit an individual, household or business," said Betty Whitlock, senior vice president, Information Systems, Bank of Floyd, located in Floyd, Va. "Using this enhanced version of Premier to get an overall picture of each customer is a great benefit for our organization -- one we feel will lead to better customer service and increased profitability."

Premier 8.0 offers dynamic search capabilities and changes how names and addresses are stored, moving them from the portfolio to a new standalone Customer Information File (CIF). Additionally, the enhanced inquiry and maintenance capabilities of Premier make it easier to explore all available information about individual customers and households, as well as accounts and addresses. With the new release, a financial institution can define and establish its own name-to-name, name-to-account and name-to-address relationships or use the many predefined relationships now offered through Premier.

Another benefit of the new release is the single customer, single address model, which enables banks to get a better understanding of each customer's relationship with the bank. This capability is a first step toward growing high-value relationships. In addition, the new data structure of Premier from Fiserv makes it easier to view comprehensive customer information, simplifying business analytics reporting and empowering decision makers within an organization.

"Premier 8.0 has the power to change a bank's approach to customer information management," said Dave Wegman, head of Premier Solutions, Fiserv. "The solution's transformative customer information file creates an environment that encourages stronger relationships and increased growth, ensuring that Premier will continue to contribute to the success of U.S. financial institutions for years to come." 

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