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Bank to reward customers for greater online activities
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Fiserv consulting services helped design innovative new checking
products
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that North Shore Bank engaged
Fiserv for consulting to create new checking products that would allow
it to take advantage of disruptions in its market and position the bank
to attract new customers and keep existing ones. In addition, Peabody,
Mass.-based North Shore Bank signed on for Relationship Rewards, the
innovative solution that provides flexible incentives to recognize and
reward a customer's entire banking relationship.
"Due to merger activity in our market, we have an opportunity to attract
new customers," said Jim Muse, senior retail banking and marketing
officer, North Shore Bank. "Thanks to Revenue Enhancement consulting
from Fiserv, customer segmentation and rigorous modeling of various
product configurations, we were able to make informed decisions about
recommended product designs to ensure profitability, client satisfaction
and cost savings."
Given the flexibility of Relationship Rewards, North Shore Bank was able
to design a new checking product with the option to design many more
without purchasing additional software. Initially, North Shore plans to
utilize Relationship Rewards from Fiserv to introduce cash-back
checking. In the future, they will be able to easily introduce other
product types to benefit and appeal to various customers simply by
changing the system parameters.
"Because of the regulatory environment, banks are looking at
customer-positive solutions to attract and retain customers," said Lilly
Straith, vice president and managing director of community banking,
Revenue Enhancement Solutions, Fiserv. "Differentiating products like
Relationship Rewards will be key to creating flexible account
configurations that meet the bank's customers' needs, while building
customer loyalty."
Additional Resources:
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider
serving the financial services industry. Fiserv is driving innovation in
payments, processing services, risk and compliance, customer and channel
management, and business insights and optimization. For six of the past
eight years, Fiserv ranked No. 1 on the FinTech 100, an annual
international listing of the top technology providers to the financial
services industry. For more information, visit www.fiserv.com.
FISV-G
Media Relations:
Julie Nixon
Senior PR Manager
Fiserv,
Inc.
678-375-3744
julie.nixon@fiserv.com
or
Additional
Contact:
Wade Coleman
Director, Public Relations
Fiserv,
Inc.
678-375-1210
wade.coleman@fiserv.com
Source: Fiserv, Inc.
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