Piraeus Bank Live on Fiserv Solution

21 January 2009

Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, today announced that Piraeus Bank, one of Greece’s leading financial institutions, is now live on the Fiserv Universal Banking solution at its Cyprus operations, following an eight-month implementation. Piraeus Bank has more than $70 billion in total assets and operations in 11 countries.

“We chose Fiserv Universal Banking, from the Fiserv CBS Worldwide division, because we wanted a stable and robust solution that could be implemented consistently in multiple countries and which would provide the flexibility to rapidly deliver new and innovative products to market,” said Stelios Hiladakis, chief information officer, International, Piraeus Bank. “Fiserv Universal Banking is the technology blueprint for our international expansion in South Eastern Europe and beyond.”

Currently Piraeus is engaged in rapid regional expansion; because of this the bank sought a universal banking solution from a company with multi-national expertise and a proven track record of successful global implementations. With the Fiserv solution now implemented at its Cyprus operations, Piraeus is also in the process of implementing Fiserv Universal Banking in Egypt and planning for deployment in a third country.

With increasing globalization, national and international banks are expanding their services to meet the growing demand for wholesale, universal and private banking services. Fiserv Universal Banking is Fiserv CBS Worldwide's unique, integrated real-time solution for retail, trade and treasury markets that allows large and mid-sized financial institutions to expand their range of services to corporate clients and diversify their income streams. Providing three best of breed solutions in one fully integrated offering is not only unique to the financial services industry, but it is an innovative contribution to both current and future clients looking to grow.

“The scalability and reliability of our Universal Banking solution will enable Piraeus Bank to support its ambitious growth targets and manage operational costs, therefore improving profitability and competiveness,” said Tony Catalfano, division president, Fiserv Depository Institution Services. “Fiserv’s cross border payments experience, risk management knowledge and system integration capabilities are key ingredients in the success of our Universal Banking solution. In addition, the bank’s ability to see its entire position in real-time will enable Piraeus to minimize its exposure and reduce operational risk.”

Fiserv’s Universal Banking suite includes: Fiserv Aperio, CBS Teller, Communicator, ICBS core, CBS Data Warehouse, Fiserv Treasury, AquaGlobal/E2Gen for international payments and Fiserv Trade Finance. Fiserv Universal Banking is a production proven solution which is tightly integrated for seamless operation and scalable for future growth. It is a single source for a wide range of banking technology needs supplied by a single, award winning solution vendor.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development