Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that New York Community Bancorp, Inc., (NYSE:NYCB), the parent company of New York Community Bank, a $51.2 billion in assets financial institution based in Westbury, New York, will advance its retail banking and commercial lending capabilities by converting to a modern, real-time core platform and integrated suite of digital banking and payment solutions from Fiserv.
The Bank will also move from in-house processing to an ASP model hosted by Fiserv to enhance efficiency, simplify operations and support continued growth.
New York Community Bank is the leading producer of multi-family loans in New York City and the largest regional bank headquartered in New York by assets. The Bank serves customers in New York, New Jersey, Florida, Ohio, and Arizona through a network of more than 250 branches. Having grown in part through a series of acquisitions, the Bank was looking for a technology partner to help them simplify operations, consolidate a broad range of solutions and provide the people and resources to meet the Bank’s current and future needs.
“Modernizing and streamlining our technology with Fiserv will enable us to meet the heightened digital expectations of depositors and commercial customers while enhancing efficiency and strengthening our competitive position,” said Barbara Tosi-Renna, Assistant Chief Operating Officer, New York Community Bancorp, Inc. “We chose Fiserv because their solutions, integration and expertise put us in the strongest position to succeed in our fast-changing marketplace.”
New York Community Bank will move to DNA®, a continuously available real-time core platform built on an open architecture, and add integrated digital solutions from Fiserv including Commercial CenterSM for commercial cash management and business banking, and the open, real-time Dovetail Payments Platform. The Bank also will move existing in-house solutions including the Corillian Online® and Mobiliti™ digital banking solutions from Fiserv to the Bank’s new outsourced environment.
By providing a professionally managed data center and strong suite of integrated solutions, Fiserv is enabling New York Community Bank to deliver an anytime, anywhere banking experience with enhanced digital, business and cash management capabilities to serve its expanding commercial customer base.
“Fiserv is committed to enabling financial institutions to grow and succeed in an always-connected financial world,” said Todd Horvath, president, Bank Solutions, Fiserv. “New York Community Bank has found a successful niche and is refining their delivery of customer-focused capabilities through technology that enables innovation, efficiency and differentiation that leads to competitive advantage.”
Fiserv is the U.S. market leader in account processing services, and more than one-third of U.S. financial institutions rely on Fiserv for account processing solutions and expertise. DNA is the first open, core banking platform built for collaboration and has been recognized by industry-leading analysts for its technology, user experience and breadth of functionality.