Bank recognized for streamlining payments processing to support its
digitalization strategy and deliver a better customer experience
LONDON & BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV),
a leading global provider of financial services technology solutions,
today announced that Allied Irish Bank (AIB) has been named a 2018
Celent Model Bank for its initiative to streamline its payments
architecture with the implementation of the Dovetail Payments Platform
from Fiserv. AIB was selected for the prestigious recognition from over
170 nominations in the Payments Replatforming category.
"The Model Bank Awards recognize how banks are using technology to
change the face of banking," said Gareth Lodge, Senior Analyst, Celent.
"Allied Irish Bank has executed a payments transformation project at a
pace unparalleled in the industry. This, along with the scale and
complexity of the project, made them a clear winner in a very
Prior to undertaking its transformation project, AIB had a complex
payments architecture with several payment engines processing multiple
payments types. This created reliability and efficiency challenges. As
part of an overall digitalization strategy, AIB identified the need for
a simple, efficient and modern payments platform. A consolidated payment
engine processing all payment types in real-time, including
wire/high-value, ACH and instant payments, all on one platform, with
full multi-currency and multi-entity capabilities, would be simpler to
support, and easier and more cost effective to update, strategically
positioning the bank to execute against new payment initiatives.
"As part of AIB's digital transformation strategy we needed to modernize
and simplify our payments platform in order to provide a more resilient
and reliable payments experience for our customers. The Dovetail
Payments Platform provides us with an agile technology that allows us to
realize our singular payment hub vision," said Pat O'Sullivan, Head of
Retail and Commercial Platforms at AIB.
"Congratulations to Allied Irish Bank. This award is a well-deserved
recognition of the intelligent way the bank has developed, and is now
implementing, an ambitious and effective payments transformation
programme that positions AIB among the top financial services providers
in Europe," said Martin Coen, president, Enterprise Payments Solutions,
Fiserv. "We are proud to be helping the bank successfully realize their
objective of always being useful, always informing and always providing
an exceptional customer experience."
In a world moving faster than ever before, Fiserv helps clients deliver
solutions in step with the way people live and work today - financial
services at the speed of life. Learn more at fiserv.com.
About Allied Irish Bank
Allied Irish Bank (AIB) is a financial services group operating
predominantly in the Republic of Ireland. It provides a comprehensive
range of services to retail, business and corporate customers, and holds
market-leading positions in key segments in the Republic of Ireland. AIB
also operates in Great Britain, as Allied Irish Bank (GB), and in
Northern Ireland, under the trading name of First Trust Bank. Its
purpose, as a financial institution, is to "back [their] customers to
achieve their dreams and ambitions."
About Celent and the Model Bank Program
Celent is a research, advisory, and consulting firm focused on financial
services technology. We are part of the Oliver Wyman Group, a wholly
owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
Every year, Celent recognizes excellence in technology throughout the
insurance and banking sectors through our Model
Insurer Awards and Model
Bank Awards. In order to win, the initiatives must demonstrate clear
business benefits, innovation, and technology or implementation
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and
deliver financial services experiences that are in step with the way
people live and work today. For more than 30 years, Fiserv has been a
trusted leader in financial services technology, helping clients achieve
best-in-class results by driving quality and innovation in payments,
processing services, risk and compliance, customer and channel
management, and insights and optimization. Fiserv is a member of the
FORTUNE® 500 and has been named among the FORTUNE Magazine
World's Most Admired Companies® for five consecutive years,
ranking first in its category for innovation in 2016 and 2017. For more
information, visit fiserv.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180427005235/en/
Enterprise Payments Solutions
Source: Fiserv, Inc.
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