Fiserv CBS Worldwide, unit of Fiserv Inc. (Nasdaq: FISV), today announced that Banco Ahorro Famsa, the new banking unit of one of Mexicoâs largest furniture and appliance retailers Grupo Famsa S.A. de C.V., has selected Fiserv CBS Worldwideâs International Comprehensive Banking System (ICBS) as its core banking solution.
Fiserv ICBS was selected, after a competitive process supervised by third-party consultants that involved several global core banking vendors, for its functionality, ease of integration, growth capabilities, proven implementation methodologies, strong track record of delivery and exceptionally strong client reference base. Fiserv ICBS will provide powerful support for Banco Ahorro Famsa through its scalability and functionality enabling seamless straight-through processing.
âOriginally, we set out to find a universal banking solution, but found the deep functionality in ICBS more closely matched our retail banking requirements,â said Francisco J. PatiÃ±o, president of Banco Ahorro Famsa.
âIn addition, Fiserv has a strong, proven track record for delivery and support. Banco Ahorro Famsa has aggressive growth plans and it is important that we have a partner that can deliver with products that can scale.â
Banco Ahorro Famsa anticipates national coverage by the end of 2007. Fiserv ICBS is expected to process more than 3 million accounts and support more than 2,000 users across the bankâs network. Fiserv will also provide the bank with treasury, anti-money laundering and risk management functionality.
âWe are committed to helping Banco Ahorro Famsa achieve all their objectives with our solutions, services and support. Famsa has a long tradition of success and we are proud to have been selected as such an important partner,â said Dan Alf, managing director of Latin America, Canada and the Caribbean for Fiserv CBS Worldwide. âThis is our third ICBS win in Mexico in 12 months and proves that Fiserv has the experience and market knowledge to meet the needs of Mexican banks and credit unions looking for a flexible, real-time core processing solution.â
The new bank branches, which will be located inside all the Famsa stores beginning in the city of TorreÃ³n, will offer a wide range of products, including deposits, consumer, personal and commercial loans and credit cards. These banking products will complement other services and delivery channels already offered by Famsa.