Fiserv wins SouthEast Bank contract

Source: Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that SouthEast Bank, a $1.2 billion Tennessee-based bank, has selected Fiserv to support the bank’s continued growth, enhance the customer experience and provide its staff with modern technology to further productivity and efficiency.

To meet these objectives, the bank will implement the DNA® core account processing platform from Fiserv along with a range of payment, branch banking, customer relationship management, business intelligence, and other solutions.

Having roughly quadrupled in asset size since 2013, SouthEast Bank was looking for modern technology to streamline account opening and automate compliance and other operations to support its continued growth. It also needed a platform that would enable the bank to deliver a seamless omnichannel banking experience to meet the needs of today’s online, on-the-go consumer.

“SouthEast Bank’s technical infrastructure is uniquely complex for its position as a community bank, and we needed a core platform that would keep pace and complement our advanced hardware network,” said John Arnold, Executive Chairman, SouthEast Bank. ”Of all the major vendors we considered, Fiserv offered the most up-to-date programming and technology, and was clearly the best choice for our future. We especially liked the way DNA displays the full customer relationship when an account is accessed, as this information enables our staff to assist the customer in making financial decisions.”

The bank selected DNA for its intuitive and highly customizable real-time software environment that can adapt to and automate many of the bank’s processes, enabling front-line staff to serve the bank’s customers more efficiently. As an example, the bank estimates that it will be able to reduce the time needed to open a new account from an average of 25 minutes to about 5 minutes with DNA thanks to its streamlined workflow.

Reporting was another factor in the bank’s decision to move to Fiserv. With DNA, the bank is able to build and generate reports directly from a single, relational core system database, saving time and effort.

“DNA is so intuitive and easy to use that staff with any computer expertise at all can figure out how to accomplish what they need to do very quickly,” said Mike Stone, Senior VP and Director of Operations, SouthEast Bank. “Because we can customize the system to match our specific processes and needs, things we used to do manually are now automatic and this helps us to provide a faster and better customer experience.”

In addition to DNA, SouthEast Bank is leveraging a range of Fiserv solutions including CardValet® alerts and notifications for debit card management; tMagic™ for automated teller capture; Intelligent WorkplaceSM for financial performance and financial risk management; Nautilus® for enterprise content management; Customer Relationship Management and Business Intelligence solutions; Financial Crime and Risk Management solutions; payments processing; and several DNAapps™ custom core extensions to add new reports and integrations to DNA. The bank is also using SentrySM Network Services for network design and management, and Sentry Unified Communications for its IVR system.

“SouthEast Bank is a progressive financial institution that recognizes the advantages of a modern, open technology platform,” said Byron Vielehr, group president, Depository Institution Services, Fiserv. “Benefits such as scalability, real-time performance, ease of use, and simplified integration with additional solutions from Fiserv and third parties, will help SouthEast Bank support its growth and meet the changing needs of its customers.” 

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