Fiserv signs three Haitian banks to core banking system
Fiserv CBS Worldwide announced that Sogebank, the largest bank in Haiti with assets of $417 million, and two other banks, Capital Bank and BNC (Banque Nationale de Credit), a Government-owned bank, have all gone live with the ICBS International Comprehensive Banking System and tellering application, CBS Branch Teller.
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A Fiserv CBS Worldwide client for nearly 10 years (since 1996), Sogebank wanted to reap the benefits of upgrading its core banking system to the new ICBS 7.2.1 version across its 34 branches and share these gains with the two other banking institutions. The banks negotiated a deal (amount undisclosed) whereby Fiserv would implement Sogebank's upgrades, train a technical team in the upgrade process to undertake the implementation at BNC and Capital Bank and provide overall consultancy as needed.
"We chose to upgrade with Fiserv CBS Worldwide because of the daily support they provide and because we know from our own experience that the Fiserv CBS Worldwide core banking system is one of the most functionally rich, reliable system around," explains Ude Nord, Executive Director of IT for Sogebank, who co-ordinated the software upgrades across the three banks. He continued, "Fiserv's new ICBS release gives us the leap forward we need to enhance our market share and deliver better services and products for our customers in the 21st century. With the installation of new hardware, the software upgrade has improved our operational efficiency and given us the ability to capitalise on the new functionality the core provides."
Baris Vasquez, VP of Implementation Services, Fiserv CBS Worldwide, comments, "Fiserv is very pleased with the decision to upgrade ICBS. This shows ongoing commitment to Fiserv, our solution set, and further demonstrates Fiserv's quality of service. Each of the respective teams did an outstanding job working together and effectively communicating. We are very pleased with the success of the project."
Ude Nord and Baris Vasquez said the initial benefits the banks are achieving from the new upgrades include:
- A 50% reduction in batch processing times with new hardware installed
- The ability to restart from the point of the error rather than the beginning of the process, meaning processing time gain and, hence, better system availability
- The flexibility of being able to create batch processing on line - giving the bank the advantage of posting transactions throughout the day rather than having to wait for end-of-day.
- Having the most current release of the ICBS software with the latest functionality, support and service.