Finovate Blog

Fiserv announced a partnership with one of the most innovative banks in the Mediterranean region today. The financial services technology company will help Hellenic Bank pursue its digital transformation by providing the Cypress-based institution with its Dovetail Payments Platform.

“Hellenic Bank is leveraging advanced payments technology to ensure that they are well positioned to meet the needs of their customers in a rapidly changing digital landscape,” Fiserv President of Enterprise Payment Solutions Jan Kruger said.

The technology will give Hellenic Bank a single platform from which to manage all payment types and clearing schemes, enabling the bank to move away from multiple siloed payment systems, streamline its payments architecture, and support process automation.

In a statement, Hellenic Bank COO Phivos Leontiou highlighted this aspect of the Dovetail platform. He pointed out that the diverse needs of the bank’s customers have traditionally been met with “a variety of payment systems.” With Dovetail providing a centralized payment platform, Leontiou explained, “we have been able to streamline our payments operations while offering the payment options customers expect. We’re also able to easily add capabilities, such as support for new real-time payment schemes.”

One of the largest banks in Cyprus, Hellenic Bank opened for business in 1976. The firm has 180 retail branches; ten business, corporate, and shipping centers; three international business centers, and 2,600 employees. In 2018, the bank acquired “certain assets and liabilities” of the Cyprus Cooperative Bank which helped establish Hellenic Bank as the island’s leading retail and SME bank.

Fiserv demonstrated its Commercial Center: Security platform at FinovateFall 2017. The technology protects Fiserv’s business banking and cash management application, Commercial Center, as well as other online banking apps such as lockboxes, business billpay, and remote deposit. Commercial Center: Security also offers data reporting, electronic payment, and file transfer processing, and features cash management functionality that is optimized for digital channels.

Last year at FinovateSpring, the company partnered with Samsung SDS to present the integration of the company’s SDS biometric authentication with its Commercial Center platform.

More recently Fiserv announced that it was working with NationalLink to support the use of smart safes in supply chain management. The company has been busy forging partnerships with banks and credit unions in 2019, inking deals with HealthCare First CU and Portland Local 8 FCU in March, and partnering with Kazakhstan’s Halyk Bank, Kentucky’s Forcht Bank, and New York Community Bancorp in February.

In January, Fiserv launched a new mortgagetech solution, Mortgage Momentum, that leverages workflow automation to streamline the loan origination process.

Founded in 1984 and headquartered in Brookfield, Wisconsin, Fiserv began the year with an announcement that it was merging with payments giant First Data Corporation in a deal valued at $22 billion.