Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Farmers & Merchants Savings Bank, based in Iowa City, Iowa, is taking on a competitive market with a robust set of retail and business banking capabilities from Fiserv.
The bank is focused on driving growth through the delivery of an enhanced experience for personal and business customers.
“Our customers have a great deal of choice in where they bank,” said Cindy Kovach, Chief Operating Officer, Farmers & Merchants Savings Bank. “The Fiserv technology platform will enable us to offer additional products, such as checking accounts tailored to different customer needs, so we can stand out and give people more reasons to bank with us.”
Farmers & Merchants Savings Bank will implement the Premier® core account processing platform from Fiserv, as well as integrated solutions for retail and business online banking, mobile banking, business analytics and more. The fact that Fiserv offers an inclusive set of solutions – from the customer experience to the back office – was a key reason the bank chose Fiserv. This will enable the bank to deliver a consistent, connected experience while streamlining vendor management.
In addition, the new capabilities from Fiserv will allow the bank to drive business efficiency by automating tasks and reducing manual processes. Daily reporting is one area where automation will provide notable benefits. Bank employees will no longer be required to manually run, print, sign and file daily reports. The automation of reporting will save a significant amount of time, enabling employees to focus on higher value, customer-oriented tasks. It will also reduce the opportunity for human error and help facilitate regulatory compliance.
“Farmers & Merchants Savings Bank is moving forward in pace with their customers’ changing expectations,” said Todd Horvath, president, Bank Solutions, Fiserv. “The bank recognizes the potential for growth that comes with offering a robust set of capabilities to attract new retail and commercial customers. Putting the right technology in place positions them to capture that potential.”
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