- SRCB now enjoying significantly reduced time to market for new products and services
- Fiserv and Digital China implementation delighting customers with improved service
Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today that Shenzhen Rural Commercial Bank, China (SRCB), has simultaneously gone live across its nearly 200 branches, now serving over nine million accounts on the Signature(TM) bank platform. Signature provides a complete banking solution from Fiserv, providing SRCB with a cost-effective base for continued growth.
The joint Fiserv and Digital China Financial Software implementation included a full retail banking solution rolled out to all SRCB branches simultaneously in a single weekend. The comprehensive project included Mandarin language capabilities, plus full support for local regulations and market nuances, essential to SRCB's future expansion and innovation in China. With the new technology in place, SRCB is poised for a digital transformation of financial services delivery that will allow it to expand its client base, launch products at a faster rate and transition from a rural-based bank to a large regional bank.
"We can now introduce new products and services literally overnight with Signature, compared to the three to six months lag time prior to the Fiserv implementation," said Li GuangAn, president, SRCB. Rapid time to market for new products is essential to SRCB's ambitious expansion strategy and one of the top reasons SRCB selected Fiserv.
Signature offers a functionally rich, scalable solution to quickly meet growing demand. Other benefits Signature provides for SRCB include scalability, a more robust disaster recovery process and the ability to handle and process a large number of transactions quickly.
"The implementation of Signature has given us an advantage at a crucial time in our development. We are in a strong position to expand our customer footprint, quickly and simply open new branches and deliver innovative new products in a timely manner - all of this is favourable for our business," said Li.
"End-to-end implementations on this scale are rare in China, and it was achieved through a true team effort," said Nick Wilde, ASPAC, managing director, Fiserv. "Fiserv has local experts on the ground who worked in concert with our partner Digital China and SRCB to deliver a complete banking solution."
"The partnership between Fiserv and Digital China delivered banking and technology expertise, coupled with local knowledge, to SRCB that will aid the bank in its expansion plans as well as build upon its current competitive position," said Liu Shengrui, chief executive officer, Digital China Financial Software.
Signature, formerly known as ICBS, is a flexible, service oriented architecture (SOA) based solution that supports savings and term deposits, current accounts, loans, sophisticated overdraft and agreed credit arrangement (ACA) processing, mortgages, collections, trade finance, treasury, insurance, imaging, document management and card products. Fully integrated with industry leading solutions from Fiserv, including Aperio(TM) and Teller, Signature provides financial institutions with a complete end-to-end solution.
Fiserv has a strong reputation in account processing in the Asia Pacific region through the Signature bank platform. Signature is deployed at dozens of leading banks across Asia-Pacific, including Commercial Bank of Ceylon in Sri Lanka, Bank of Queensland in Australia, Banco de Oro in the Philippines and Panin Bank in Indonesia. Signature is a prime example of the Fiserv core competency in account processing.