Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced the launch of Intelligent Workplace(SM), a web-based portal that gives financial institutions a simpler and more cost-effective way to access financial performance and financial risk management applications.
With Intelligent Workplace, banks and credit unions can access integrated financial accounting, performance management and risk management applications in a hosted environment, helping reduce the financial and logistical burdens associated with implementing and maintaining software on multiple workstations or servers.
Intelligent Workplace enables financial institutions to control performance and achieve results faster by unifying both the strategic decision-making and operational execution of enterprise risk and financial performance management in a common cloud-based environment.
Through a single sign-on platform, Intelligent Workplace supports fully integrated, and configurable solutions and services from Fiserv, including Prologue(TM) Financial Accounting Services, Credit Risk Modeler, Trend Modeler and Prepayment Modeler initially. As additional applications are rolled out, they will be launched via Intelligent Workplace. The platform is designed to make it easier for end users to manage and switch between multiple applications, while seamlessly integrating their organization's risk, budgeting and reporting data and processes.
"Using Intelligent Workplace, financial institutions can be managed in such a way that their performance can be constantly monitored, improved and optimized. Financial institutions have long faced complex risk management processes, and fully integrating these processes with financial performance and accounting activities has been an industry-wide challenge," said Danny Baker, vice president of product management, Risk & Compliance, Fiserv. "With Intelligent Workplace, the full spectrum of financial risk, performance and accounting solutions from Fiserv will be available in an easy-to-use, customizable portal. Furthermore, this portal better supports an enterprise performance management perspective - the convergence of traditional financial risk management and financial performance management."
The portal addresses diverse chhallenges and requirements within today's institutions. Banks and credit unions that require efficient processing of multiple forecasting scenarios and large volumes of instruments and transactions will find the platform to be a powerful, valuable asset. Later this year, Fiserv will introduce Prologue Investment Portfolio Accounting and Vantage Risk and Budgeting Manager via the portal, and will continue to add applications via Intelligent Workplace to further strengthen institutions' capabilities to build and benefit from an overarching enterprise performance management discipline.
"Banks and credit unions looking to reduce the cost of business activities and increase profitability while complying with the ever-changing and increasing regulatory requirements will find the modular nature of Intelligent Workplace beneficial," added Baker. "Intelligent Workplace gives management insight into performance as it is able to continually monitor and update strategy and plans in light of changing business conditions and as results are reported and analyzed in a continuous, dynamic cycle."
Fiserv offers a unique breadth of Risk and Compliance solutions to help clients optimize usage and return on capital by making risk transparent and actionable within their organization. Solution areas include Financial Crime Risk Management, Financial Risk Management, Financial Performance Management and Financial Control Solutions.