Automation of manual processes and streamlined technology management
will drive efficiency for the bank
BROOKFIELD, Wis.--(BUSINESS WIRE)--
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
"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."
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 Farmers & Merchants Savings Bank
Farmers & Merchants Savings Bank is an independent community bank with a
strong tradition of meeting customers' needs and the needs of the local
community. Founded in 1901, the bank currently operates three branches
in eastern Iowa, providing personal, friendly service and competitive
financial products. For more information visit fmbankonline.com.
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and
deliver financial services experiences 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, recognized for
strength of business model and innovation leadership. For more
information, visit fiserv.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180412005646/en/
Director, Public Relations
Sr. Director, Public Relations
Source: Fiserv, Inc.
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