Bank selects DNA core platform along with digital banking, payments,
and commercial solutions
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that Salem Five, a $4.2 billion
Massachusetts-based bank, has selected Fiserv as a new technology
partner. The selection was made with a particular emphasis on advancing
the banks' digital focus and enhancing business banking capabilities.
The bank will further these strategic priorities by implementing the DNA®
account processing platform from Fiserv along with a range of digital
banking, payments, and commercial and cash management solutions. The
commercial and cash management solutions selected by the bank are part
of the expanded set of commercial banking capabilities offered by Fiserv
following the recent acquisition of Online Banking Solutions.
"Salem Five has a sophisticated approach to technology, looking beyond
the bells and whistles to consider how technology can enable the entire
customer relationship," said Byron Vielehr, group president, Depository
Institution Services, Fiserv. "This is an approach that we at Fiserv
share, and we are committed to helping the bank get the most out of
their technology, including the commercial and cash management
capabilities Fiserv is able to offer as a result of our acquisition of
Online Banking Solutions."
The bank selected DNA to ensure retail and business customers have the
most innovative tools to collaboratively manage their finances. The bank
wanted the most modern platform available that could grow with Salem
Five for the long term, and they appreciated the robust DNA roadmap.
Salem Five has a long history of supporting the financial needs of
businesses throughout the Greater Boston business community, including
providing financing for transformative initiatives. Serving this
important market of community businesses continues to be a strategic
imperative for the bank, aligning with their mission as an independent
mutual bank. Salem Five will enhance their commercial and cash
management capabilities with a modern cash management platform from
Fiserv, allowing them to deliver the user experience and functionality
business users expect. Salem Five will also add tools to streamline
account analysis and billing and facilitate treasury management tasks
such as positive pay and reconciliation to meet the needs of commercial
In addition to supporting the bank's overall goal of digital
transformation, the addition of robust online and mobile banking
capabilities, including electronic payments and image capture, will help
Salem Five meet the expectations of today's more digitally focused
customers, including those that are served via its nationwide direct
by industry-leading analysts for its technology, user experience and
breadth of functionality, DNA from Fiserv is the first open, real-time
account processing platform built for collaboration. A modern platform
developed using contemporary, standards-based components, DNA provides a
360-degree view of customer relationships and facilitates streamlined
processes within the financial institution.
In a world that is moving faster than ever before, Fiserv helps clients
deliver solutions that are in step with the way people live and work
today - financial services at the speed of life. Learn more at Fiserv.com.
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 global 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 a FORTUNE World's Most
Admired Company for three consecutive years. For more information, visit Fiserv.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170209005728/en/
Ann S. Cave
Director, Public Relations
Elizabeth McMillan, APR
Source: Fiserv, Inc.
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