With 56 new contracts, Fiserv CBS Worldwide recorded a significant increase in global sales volume that included 20 new core contracts in five countries during 2005.
In addition, 36 clients have expanded their relationships with Fiserv and signed up for multi-year maintenance renewals or upgrades, including a new deal with a large credit union in Mexico and multiple wins in the Caribbean.
The year ended victoriously with Fiserv ranking as the ânumber one financial services provider to the industryâ in the annual FinTech 100 for the second consecutive year. Fiserv beat rivals Misys and I-flex for the lead spot in the report. Fiserv also reported record revenues and earnings for 2005 of more than US$3.7 billion.
âThis has been a year of great successes for Fiserv CBS Worldwide and puts us on track for a stellar 2006,â said Tony Catalfano, president of Fiserv CBS Worldwide. âThese wins and renewals are proof that our solutions enable clients to achieve greater internal efficiencies and faster growth than their competitors.â
2005 notable accomplishments include the following:
Bank of Ceylon, a leading bank in Sri Lanka, completed the migration of 140 branches to Fiservâs International Comprehensive Banking System (ICBS) in 2005. This complex implementation accounted for more than one-third of the bankâs branches and the consolidation of five disparate legacy systems. The remaining branches will be converted in 2006.
CL Permanent Building Society, a de novo financial institution based in Trinidad, installed and went live with Fiservâs banking solutions, ICBS, CBS Teller and CBS Customer Relationship Servicing in less than four months.
Caja Popular Mexicana, the largest credit union in Mexico and Latin America with 333 branches, more than 1 million members and $1 billion in assets, went live with Fiservâs ICBS core software solution. The implementation included the consolidation of 26 regional data centers and the replacement of two legacy systems.
Commonwealth Bank of the Bahamas, known as the first bank to issue Bahamian credit cards, implemented CBS Collections and Fiservâs debit solutions on top of its ICBS core.
CoopDesarrollo, the sixth largest credit union in Mexico, selected ICBS to support its commitment to become one of the first credit unions in Mexico to be registered as regulatory compliant with the Mexican government.
Sogebank, the largest bank in Haiti with more than $417 million in assets, collaborated with Capital Bank and BNC, to go live with an upgrade and two new installs of Fiserv core software in July.
Millennium bcp, the largest Portuguese private bank, extended its use of Fiservâs ICBS core and front-end systems for processing and customer servicing by renewing its long-standing partnership with Fiserv for an additional three years.
Ministry of Housing in Trinidad & Tobago selected Fiserv to consolidate several government housing agencies onto one software platform and enable the governmentâs ambitious goal to expand their lending services over the next 10 years.
A leading bank in the Philippines also selected Fiserv to ensure that it met its newly announced expansion and aggressive growth targets with specific focus on developing its loans and deposits portfolio. Fiserv technology is already assisting the bank in achieving these targets.
Additionally, six of the new core deals signed in the US are financial institutions with $1 billion or more in assets, including 1st Source Bank ($4.5 billion in assets), Central Bank ($1.7 billion in assets) and Advantage Bank ($1.3 billion in assets).
Other existing customers upgrading core systems and/or extending their licenses for ICBS and Fiservâs front-end customer sales, servicing and teller platforms included Maduro & Curielâs Bank, which upgraded to the latest version of the ICBS core and implemented CBS Teller, and Banco del Progreso (Dominican Republic). Additional renewals and upgrades included Banco Granahorrar (Colombia), National Housing Trust (Jamaica), Hakrin Bank (Suriname), Bank of Jamaica (Jamaica), Dexia Public Finance Bank (UK), Banque Nationale de Credit (Haiti) and connectfinancial (Tasmania).