â¢ Solution includes integrated document management and business process management capabilities, plus sales and customer relationship management
â¢ Multi-product win includes risk and compliance management, source capture, financial accounting, card management, item processing and EFT solutions
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Miami-based City National Bank of Florida has selected the Premier(R) bank platform from Fiserv to support and enhance the bank's rapidly expanding regional footprint. The $3.8-billion financial institution cited the scalability, breadth and flexibility of Fiserv products and services as key factors in its decision.
City National selected a number of additional solutions from Fiserv to supplement its Premier bank platform, including Business Process Manager, Director(TM) for electronic content management, Branch Source Capture(TM) for remote deposits, EnAct(TM) for enterprise sales management, Prologue(TM) Financial Accounting Services, and several card services solutions including the ACCEL/Exchange(R) PIN debit network.
Since 2008, City National has been owned by the third-largest bank in Spain, Caja Madrid, which supported the U.S. bank's evolution from a commercial real estate development bank to a full retail bank focused on residential, commercial and private banking. City National's new direction dictated a change in technology providers.
"The industry and our economic situation are constantly changing, and we have to be prepared to react," said Tim Robinson, director of operations and technology for City National. "There's a great deal of flexibility, innovation and depth we experience working with Fiserv, that enables our organization to quickly expand, introduce new products and pull the information we need to make the right decisions. Leveraging technology from Fiserv means that we can grow and add products without allocating resources for additional development and customization."
With the implementation of Premier, City National will begin processing in an in-house environment - a decision based on economic considerations, as well as the bank's confidence in its IT department and the stability of Premier. According to Robinson, City National anticipates reducing expenses by more than $1 million by bringing its processing in-house.
In addition, City National is anticipating increased efficiencies, tighter workflows and enhanced reporting capabilities with the implementation of Business Process Manager for Premier - a new account and process management solution. The step-by-step workflows offered through Business Process Manager will help City National capture and utilize customer information to provide better front line service and to simplify processes throughout the organization.
As the bank continues to reduce its use of paper in favor of digital processes, City National will utilize Director for Premier - to eliminate paper flow between branches and the main office. "Right now, we make copies of copies, just to have a back-up copy," said Robinson. "Director will not only save paper, but also time spent scanning, sending and saving documents."
According to Robinson, City National's transformation into a more sales-oriented organization requires a robust reporting system to enhance marketing and sales efforts. In addition to Business Process Manager and Director, City National's selection of EnAct from Fiserv will equip the bank with tools that enhance the information gathering, automation and collaboration needed to manage customers, portfolios, sales teams and local markets.
"Because of their expansive growth and diversification strategy, it was especially important for the bank to select the right technology to accompany its new direction," said Dave Wegman, head of Premier Solutions for Fiserv. "The solutions they've chosen will give powerful support for the bank's goals, and the proven scalability, integration and flexibility offered by Fiserv will serve the bank well - now and in the future."