Banks can use ICS and CDARS to: attract and retain large-dollar depositors interested in access to multi-million-dollar FDIC insurance, reduce ongoing collateralization costs, and replace higher-cost funding. The integration of ICS and CDARS with the Premier bank platform automates many of the features and functionalities banks look for in a fully integrated, core processing solution. Specifically, the integration saves financial institutions time, simplifies the data and order entry processes, reduces the likelihood of error, and enhances reporting capabilities.
âThe integration of Premierâs feature-rich functionality and flexibility with Promontory Interfinancial Networkâs innovative services related to ICS and CDARS will provide the tools financial institutions are looking for in order to grow revenue and increase efficiencies,â said Dave Wegman, head of Premier solutions for Fiserv. âA third of the Promontory Networkâs 3,000 member institutions currently use a Fiserv bank platform, making this announcement especially significant.â
Beginning today, the integrated solution for ICS is available to the thousands of financial institutions on the Premier bank platform. Integration for CDARS will be phased in over the coming months. In the future, integration with both Promontory services will also be phased in to other Fiserv banking platforms.
âThe integration with Premier from Fiserv will make the ICS and CDARS services even easier and more efficient for bankers to use to attract and retain deposits,â said Steve Kinner, Promontoryâs head of Sales. âIt raises the quality of service that both Promontory and Fiserv can provide to banks to an even higher level.â