Milwaukee-area bank selects DNA account processing platform and
integrated services including Verifast: Palm Authentication for
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that PyraMax
Bank, a mutual savings bank based in Greenfield, Wisconsin, has
selected Fiserv as a technology partner to help the bank modernize its
retail banking operations, create a frictionless customer experience and
drive the growth of commercial loans and deposits. The bank will move
from another vendor's core system to the DNA®
account processing platform from Fiserv and add a full complement of
integrated mobile, online and branch banking solutions, including
palm-vein biometric authentication.
After an extensive review that narrowed the field to four vendors
including its incumbent provider, the bank selected Fiserv based on the
advanced level of technology offered, the completeness of its solutions
and the ability to generate cost savings through advanced automation.
The bank will be running DNA and other solutions from a Fiserv data
"We had a vision of what we needed to take banking to the next level,
from the front line to the back office," said Richard Hurd, CEO and
president, PyraMax Bank. "Fiserv offered everything we were looking for
to simplify banking - the real-time technology, the palm-vein
authentication, the paperless transactions, the automation of complex
tasks - and the integration to make it all work together seamlessly."
Added Monica Baker, senior vice president, Chief Brand Officer, PyraMax
Bank, "When we went through our orientation, DNA had an automated
solution for every manual process that was a pain point on our current
system. Fiserv put us where we need to be today, and more importantly,
will take us where we need to be in the years ahead."
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. Developed using
contemporary, standards-based components, DNA facilitates streamlined
processes and provides a 360-degree view of customer relationships as
well as commercial processing capabilities. DNA provides the foundation
that will enable PyraMax Bank to provide the products and services its
customers require along with a seamless customer experience.
The bank will also implement Verifast™: Palm Authentication, an award-winning
innovation from Fiserv that uses the latest biometric technology to
verify an accountholder's identity. Customers are authenticated by
waving their palm over an infrared sensing device that detects the
consumer's unique palm vein pattern and matches it to an encrypted
digital signature to help financial institutions mitigate fraud, reduce
transaction times and make banking transactions more convenient.
Additional solutions selected by PyraMax Bank include tMagic™ for DNA
automated teller capture, DNAweb™ and Mobiliti™ for consumer and
commercial online and mobile banking, CheckFree® RXP® and CheckFree
Small Business for consumer and business bill pay, and Popmoney® for
personal payments. The bank also chose Fiserv solutions for financials,
CRM and business intelligence, card alerts and notifications, customized
statements, wire transfers and more.
"PyraMax Bank is a progressive financial institution that understands
how to address the sophisticated financial needs of consumers while
presenting them with a banking experience that is simple and easy," said
Byron Vielehr, group president, Depository Institution Services, Fiserv.
"The flexibility and open design of DNA, and the strong family of
integrated solutions from Fiserv, will enable PyraMax to gain the
efficiencies and deliver the services needed to keep pace with their
customers' ever-changing lives."
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.
About PyraMax Bank
PyraMax Bank was originally founded August 10, 1895, under the name of
South Milwaukee Savings Bank. In May 2000, a merger between South
Milwaukee Savings Bank and Mitchell Savings Bank officially formed
PyraMax Bank. PyraMax Bank is a Federally Chartered Mutual Savings Bank
with nine branches and $423 million in assets that serves approximately
20,000 customers in Southeastern Wisconsin. The bank was named by the
Milwaukee Business Journal as one of the top employers in 2016. Learn
more at www.pyramaxbank.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 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 four 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: http://www.businesswire.com/news/home/20170328005822/en/
Director, Public Relations
Elizabeth McMillan, APR
Source: Fiserv, Inc.
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