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Signature & Teller: Merchant Bank of Sri Lanka Chooses Fiserv


Merchant Bank of Sri Lanka’s next core-account-processing platform and front-end teller system will come from Fiserv.

The bank, the product of a merger between subsidiaries MBSL Savings Bank and MCSL Financial Services, said its selection of Fiserv’s Signature core-accounting processing and Teller front-end teller systems was based on its need for “stability, flexibility, and scalability,” according to Merchant Bank of Sri Lanka CEO T. Mutugala. He said that the growth of the bank’s network and customer base meant seeking solutions that would also make it more affordable to run multiple systems, and added that Fiserv’s technology had already been “proven locally in Sri Lanka” as well as around the world.

Live in more than 40 countries, Signature helps mid-tier and larger banks serve enterprise clients as a multilingual, multicurrency core-accounting processing platform. Teller is a full-featured, branch-tellering and transaction-processing solution that provides tools to automate daily operations and give management the visibility and controls necessary to remain compliant and operate safely within a global context.

Fiserv has made a major impact in the Asia Pacific region, with clients in 13 countries within an area including Australia, Thailand, and Indonesia. Nevertheless, the news from Merchant Bank of Sri Lanka arrived as Fiserv also announced two new credit-union clients back in the United States. Badlands FCU ($27 million in assets) in Glendive, Montana, and Danville City Employees FCU ($25 million in assets) both have elected to deploy Fiserv’s integrated OnCU core-account-processing solutions suite.

Founded in 1984 and headquartered in Brookfield, Wisconsin, Fiserv demonstrated its Mobiliti Enterprise solution at FinovateSpring 2016. With more than 13,000 customers and 21,000 associates around the world, Fiserv was named a Fortune magazine World’s Most Admired Company for the third year in a row in 2015, the same year the company was recognized by Forbes as one of America’s Best Employers.

Interested in fintech in Asia? Join us as Finovate returns to the APAC for FinovateAsia 2016 on 8 November 2016. Whether you have new fintech innovations to show or are looking for the key technology to take your solution to the next level, FinovateAsia is a great way to make your splash in the Asian fintech scene.