Fidelity reports contract wins at integrated financial solutions unit
14 July 2005 | 1896 views | 0
Source: Fidelity National Financial
Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services ("Fidelity") division announced today that 45 new financial institutions have signed long-term relationship agreements with Fidelity's Integrated Financial Solutions division during the first six months of 2005 - continuing an accelerated new business growth trend for the business unit.
"Fidelity's market share continues to grow rapidly because financial institution leaders are recognizing the power of our integration strategy and are excited about the value this strategy will bring to their business and, ultimately, to their customers," said Jim Susoreny, executive vice president for Fidelity's Integrated Financial Solutions division. "Our unwavering focus on specific markets - and our dedication to delivering the suite of integrated technology solutions appropriate to those markets - has enabled us to clearly and consistently demonstrate our value to financial institutions looking to increase efficiencies, enhance revenue opportunities and improve service delivery."
Among Fidelity's new core and/or item processing relationships established during the first half of 2005 are Bay Bank (FL), CIB Marine Bancshares (IL), Coast National Bank (CA), First Madison Bank & Trust (GA), First State Bank (NJ), First Vietnamese American Bank (CA), Fremont National Bank of Canon City (CO), Mid-Country Bank (MN) and Peach State Bank & Trust (GA). Twelve de novo institutions have also begun long-term relationships with Fidelity including American Southern Bank (GA), Florida Bank of Commerce (FL), Monument Bank (MD), State Bank & Trust Company (GA), and WestBridge Bank & Trust (MO). In addition, Fidelity captured several new credit union clients during the first half of the year including two billion-dollar-plus institutions with Virginia Credit Union (VA) and Wings Financial Federal Credit Union (MN) as well as several mid-tier credit unions including Horizon Community Credit Union (WI) and Ryder Systems Federal Credit Union (FL).
"I truly believe that what puts us over the top in many competitive situations is our ability to look at an institution's needs and offer the right solution to meet those specific needs," added Jeff Berns, senior vice president of sales for Fidelity's Integrated Financial Solutions division. "We recognize that clients have different technology needs based on their size, market and business strategies, and the clear fact that we're organized to put our clients' best interests at the forefront - while avoiding the creation of competition among our internal offerings - has become a key differentiator for Fidelity in its markets."