Emigrant Savings Bank selects Fidelity's ACBS for commercial lending

Emigrant Savings Bank is one of the largest and oldest savings banks in New York City and has been actively expanding its presence in the competitive commercial lending marketplace.

Emigrant will deploy ACBS across multiple business lines, including real estate and private banking, to improve the efficiency of processing complex transactions and further enhance the level of service provided to clients and investors. Emigrant will implement ACBS Origination and Servicing, resulting in streamlined deal set-up and loan processing. In addition, the ACBS DataMart will provide true business intelligence allowing Emigrant to have easy access to information to manage their portfolio and provide both management and clients with critical financial information.

Emigrant Savings Bank will use the origination, servicing and business intelligence modules of the ACBS product line in an application service provider (ASP) environment. "The ACBS solution will provide Emigrant with the ability to better service our clients and investors as we expand our presence in the highly competitive world of real estate and commercial banking," said Pat Goldstein, senior executive vice president and chief credit officer at Emigrant Savings Bank. "The efficiencies gained by introducing a leading commercial lending solution to process our complex credits offer the Bank clear advantages as we grow our customer base and enter new markets."

"We are very pleased that Emigrant has chosen to deploy ACBS to support the growth of their commercial lending business," said Richard Levy, president of Fidelity Information Services, ACBS division. "Emigrant will be the tenth organization to have selected our ASP model and will be able to rely on the resources and broad support of Fidelity as they begin to serve new markets and expand their portfolio of loan products."