Fidelity Information Services (Fidelity), a division of Fidelity National Financial, Inc. (NYSE:FNF), today announced the completion of Webster Financial Corporation's (Webster) conversion to Fidelity's enterprise-wide, integrated financial services software solutions suite.
This included converting 154 branches throughout Connecticut, New York, Massachusetts and Rhode Island.
"This is a significant step toward Webster expanding to a fully integrated commercial bank," said Zeynep Fredrick, executive vice president and chief information officer of Webster Financial Corporation. "In addition to Webster realizing scalable and flexible technology infrastructure, our customers will enjoy a larger range of banking options and services with more convenience."
The conversion is part of the multi-year information technology services agreement signed by both companies last year. The agreement includes software and service solutions for loan processing, deposits, item processing, retail and consumer loan servicing, mortgage servicing, commercial lending origination and servicing. All of these systems will be connected by a robust integration layer, Fidelity's Xpress Enterprise Services (XES), a middleware technology that allows efficient, consistent, informed communication across all delivery channels.
"Fidelity's integrated suite of solutions delivered through a common front end will enable all customer data to be quickly and easily accessible through a variety of channels, whether it be online, at the ATM or at the teller window," said Roger Leitner, president of Fidelity's Enterprise Banking Solutions division. "We are proud to be able to provide this competitive advantage to Webster and help the bank meet its customer and shareholder goals."
Leitner added that supporting Webster's information technology needs across the organization's entire loan and deposit portfolio further substantiates Fidelity's ability to provide a comprehensive, integrated banking solution across the enterprise.
"The success of this conversion has fully met our expectations," Fredrick said. "Hundreds of employees from both Fidelity and Webster have worked diligently to coordinate, analyze, implement and manage the seamless transition of our financial services system. As a result, we are now operating efficiently and effectively on a single, fully integrated platform at our branch locations." Fredrick added that the overall conversion to Fidelity is the most complex project in the organization's history.
"For more than 35 years now, Fidelity has been in the business of partnering with clients to successfully deliver strategic financial services solutions," Leitner said. "With Webster, Fidelity enjoys and appreciates a rewarding and effective partnership. We look forward to sharing continued success with the bank."