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Fiserv Welcomes A Trio of New Bank Partners

Fiserv is living the fintech dream as more than 80 of its bank clients have completed a migration to outsourced core processing in the past 24 months.

This heightened state of happiness is set to continue as the company says nearly 60 more are scheduled to make the move in 2019, reports Antony Peyton of Fintech Futures (Finovate’s sister publication).

Three banks in the US have been wheeled out to offer some praise.

“After we moved to outsourced core processing, we asked ourselves what other services we should outsource to ensure customer information was held in a secure data centre. This led us to choose hosted infrastructure as a service and managed services from Fiserv,” said Yvette Hamm, vice-president, information security officer, First State Bank of Uvalde in Texas.

Robert Palmer, president and CEO of Missouri-based Bloomsdale Bank, is addicted to outsourcing love as the decision to move was due in part to the difficulty of finding qualified staff to manage technology in-house.

While for JD Bank in Louisiana, it considered doing it for more than two years before making the decision.

Bavo Gall, JD Bank’s EVP and chief information officer, said: “By outsourcing with Fiserv, we have maintained the flexibility to do what needs to get done.”

The bank moved its core processing, item processing and online banking systems to an outsourced environment over a single weekend in late 2017.

In other news, last week, Mi Bank in Michigan announced it was set to debut early this year. The new financial institution says it will use technology from Fiserv, including the DNA core banking system, to power its launch.

Headquartered in Brookfield, Wisconsin and founded in 1984, Fiserv demonstrated its Commercial Center: Security platform – in partnership with Samsung SDS – at FinovateFall 2017.