Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Dime Community Bank, a $6.44 billion asset financial institution based in Brooklyn, New York, will accelerate its transformation to a robust community commercial bank model by moving to a modern, real-time core banking platform and integrated suite of digital banking solutions from Fiserv.
The bank will utilize this technology to uniquely tailor services to the needs of business, retail and commercial customers as part of its ongoing expansion plans.
Dime Community Bank has been among the leading commercial real estate multi-family lenders in New York, a business in which it has specialized for more than 50 years. In 2014, Dime started on a path to transform and re-energize the bank’s business by adding branches, launching new digital channels and establishing new commercial lending services.
“Upgrading our technology foundation is an essential step in differentiating in the competitive markets we serve,” said Ken Mahon, president and CEO, Dime Community Bank. “Only Fiserv was able to provide the up-to-date core platform along with integrated solutions that enable us to be more efficient while delivering unique commercial, retail and digital experiences to our customers.”
Fiserv will provide Dime with integrated solutions that eliminate the need for staff to log into separate systems or manually gather data from independent information siloes, and strong business and cash management capabilities to serve an expanding commercial customer base.
Dime will leverage DNA® from Fiserv for modern, real-time account processing capabilities, along with a set of digital banking solutions from Fiserv. These include Commercial CenterSM with enhanced security and cash management capabilities for commercial and small business banking, and ArchitectTM for a unified consumer experience spanning mobile, tablet and PC banking. The bank will also be using integrated solutions from Fiserv to upgrade the bank’s fraud protection, replace branch capture with a more efficient teller capture solution, and add wire transfer and document management capabilities to support its commercial and industrial business.
“Fiserv technology and expertise will equip us to meet the needs of our customers,” said Tim Lenhoff, executive vice president and Chief Technology Officer, Dime Community Bank. “We anticipate being able to streamline or eliminate a substantial number of manual processes, which saves the bank money and lets our people focus on servicing customers and growing our business. In addition, we will be able to offer many more solutions and services to all of our customers.”
“Fiserv is focused on helping financial institutions like Dime thrive through our digital ecosystem that delivers an always on, always connected customer experience from the branch to the digital device,” said Byron Vielehr, group president, Depository Institution Services, Fiserv. “We’re helping clients achieve best in class results by making digital engagement a defining advantage in driving growth and enhancing operational efficiency.”