Financial Fusion, Inc., a Sybase company (NYSE:SY), announced today that First Citizens Bank, a top 100 U.S. bank with more than $12 billion in assets, has licensed the complete Financial Fusion Banking Suite. The Suite will provide First Citizens with a single, enterprise-wide platform to offer online services and products to retail and business cash management customers.
First Citizens decided to replace its current system as a result of an ongoing effort to evaluate the success of each of its technology solutions. In addition to enhancing the solution's features, it was essential for First Citizens to find a reputable vendor that was financially viable and offered a Java-based solution that could be deployed on premise. With Financial Fusion Corporate Banking Solution, First Citizens will now be able to offer customized packages that are designed for specific target audiences as well as an advanced entitlements system that provides business customers with superior risk management tools.
First Citizens Bank had previously licensed and installed Financial Fusion Consumer Banking Solution to serve their retail online banking customers. Because all Financial Fusion products run on a single technology platform, First Citizens Bank will be able to realize infrastructure and training savings commonly associated with implementing new technology solutions.
"Financial Fusion Corporate Banking Solution provides us with an array of features and functionalities that we can use to create customized client packages to serve the diverse needs of our clients," said Rich Smith, senior vice president and manager , of Cash Management at First Citizens Bank. "Corporate Banking Solution also allows us to leverage our existing Financial Fusion architecture to take advantage of shared system costs."
"We are happy to expand our relationship with First Citizens and feel that it further emphasizes the importance that banks are placing on consolidating their vendor relationships," said Richard J. Moore, president and COO, Financial Fusion Inc. "Financial Fusion offers banks a unique value proposition where we provide advanced, easy-to-use and robust solutions all on a single technology portfolio that presents the best ROI model available."