Source: Fidelity Information Services
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 today announced that three community-based financial institutions have selected Fidelity's Premier solution for their core processing needs.
The institutions include First Vietnamese American Bank of Westminster, CA; First Choice Bank of Cerritos, CA; and Monument Bank of Bethesda, MD. Additionally, all three institutions have selected Fidelity's image item processing and electronic funds transfer services - allowing each bank to benefit from the tight integration of these capabilities with the Premier platform as well as the efficiency opportunities afforded by Fidelity's one-stop service approach.
"I've been impressed with the system ever since it was introduced, and I've used it over the years in different situations," said John Podlesni, chief financial officer of First Vietnamese American Bank, which is focused on serving the unique needs of ethnic business communities in its market area. "I like it because it's a progressive Windows-based solution that lets me perform various functions online and immediately see the results. Fidelity's Premier solution gives our de novo bank the power and versatility we need at an affordable price. And Fidelity's focus on wrapping the technology with superior service levels creates significant value for our bank while their single-source approach means less confusion for our employees."
Fidelity's investments in its Premier suite of products and services are designed to provide clients with greater functionality, faster processing and increased reliability and security. Examples of such investments include the implementation of Next Generation Premier as well as the installation of a new mainframe and supporting hardware to improve system performance and security. The company also installed new technology to enhance manageability in the area of report and file delivery, as well as a hardware upgrade for the system's ad hoc reporting tool that increased storage space and sped up the retrieval of data.
In addition to system improvements, Fidelity has recruited additional Cisco-certified network engineers and experienced training personnel and has added new client education and consultation programs. The recent infrastructure and staffing enhancements have continued to attract new clients as well as strengthen the long-term loyalty of many existing clients, including California-based Monterey County Bank.
"We initially chose Fidelity's Premier service 10 years ago because the product suited our needs," said Bruce Warner, chief financial officer for Monterey County Bank. "We just renewed, but our reasons go beyond the product - it's now more about our relationship with the team that serves us. They understand our business and they know what we need, sometimes even before we do. We can count on them to continually and proactively seek ways to help us become a stronger bank."
First Choice Bank is a de novo institution focused on the Asian-American community from Cerritos to Los Angeles. Although a new client for Fidelity, the bank's chief executive officer, Harvey Ferguson, turned to Premier based on his past experience. "I've served as president and chief executive officer for several large banks and have worked with these people for many years," said Ferguson. "I can get similar functionality with other providers, but Fidelity excels in terms of service. They make a habit of responding promptly, and they always find a workable solution. Most of them are former bankers who can relate to our issues, so we don't have to continually explain our operations."
First Choice Bank and Monument Bank also chose the Premier platform and teller automation solutions; PremierPrime, a business intelligence module; Premier Director for document storage and archival; and Internet banking and web hosting. All three new clients selected Fidelity's image item processing and electronic funds transfer services.
"When choosing a provider to manage the processing of data, many banks begin by evaluating systems that have stood the test of time," said Jim Susoreny, executive vice president for Fidelity's Integrated Financial Solutions division. "This criterion can narrow the search to just a handful of systems, including Premier. At that point, the choice really comes down to service. At Fidelity, we bring the best of both worlds - a solution consistently chosen by more banks than any other, combined with a demonstrated track record of successfully serving our clients' day-to-day needs."