Published:
Waterford Bank Selects Premier Bank Platform from Fiserv Along with Multiple Value-added Solutions
BROOKFIELD, Wis. - (BUSINESS WIRE) - BAI RDC Booth #417 - Fiserv,
Inc. (NASDAQ: FISV), the leading global provider of financial services
technology solutions, today announced that Waterford Bank, a commercial
bank in Toledo, Ohio, that has experienced unparalleled growth in its
first two years, has selected the Premier bank
platform. With a customer-centric focus and a dedication to provide
integrated, customized financial services, the bank has now grown to
assets of $197 million since opening its doors in 2007. Premier from
Fiserv is highly scalable to accommodate continued growth, and
additional business-focused solutions will allow Waterford to
differentiate and compete effectively.
Waterford Bank chose the Premier bank platform solution and outsourced
account processing services from Fiserv to provide its primary customer
base of small- and medium-sized businesses with the sophisticated
financial solutions demanded by today's marketplace. To enhance its
business banking capabilities, the bank will also deploy PayData.NETTM
from Fiserv; a powerful, client server-based application that automates
remittance and processing services, meeting all lockbox requirements.
"Fiserv offers us a responsive, full-bodied system," said Michael White,
president and chief operating officer of Waterford Bank. "The bank's
aggressive growth plan demands the multifaceted management reporting and
financial accounting provided by the Fiserv platform. We need a
technology partner that understands what banking is going to look like
five years from now - one that meets our needs today and in the future.
Fiserv is that partner."
Waterford also selected a variety of value-added Fiserv services,
including remote deposit capture, treasury management, online banking
and bill pay, mobile banking and electronic document management. This
multi-product solution represents all five Fiserv core competencies:
processing services, customer and channel management, insights and
optimization, risk and compliance, and payments.
The bank's impressive growth, particularly in the midst of an economic
downturn, can be attributed to its highly experienced leadership team
and a business plan that centers on commercial clients, corporate
executives and professionals. Treasury management solutions that help
business customers conduct financial tasks more quickly, accurately and
cost-effectively serve this market segment well, including Remote
Deposit Capture for Premier, which enables businesses to prepare and
submit deposits electronically no matter where they're located. More
than 30 Waterford Bank business clients are already utilizing this
service.
"Fiserv is the right partner to meet our business strategy," said White.
"They provide the cash management and treasury services that drive core
deposits to support Waterford Bank." In addition to merchant capture,
Waterford Bank offers a variety of other cash management solutions
through Fiserv, including account analysis, positive pay, wire
transfers, investments, customized statements and ACH services.
"Waterford Bank's phenomenal growth - nearly eclipsing the $200-million
mark by its second anniversary - is almost unheard of in these market
conditions. Impressively, Waterford continues to win market share every
day," said Jim Cross, president of the Central Region data center for
Fiserv. "We are proud to be their technology partner."
On track to deploy Premier in the fourth quarter of 2009, Waterford Bank
anticipates a long-term partnership with Fiserv to support its
anticipated growth in earnings and deposits. "It's not a secret how you
can be successful," said White. "We've been true to our business
strategy of courting commercial clients while investing in technology to
support those clients. It all leads to increased core deposits, growth
and profitability."
About Waterford Bank
Waterford Bank was established in August, 2007 in Toledo, Ohio. The
locally owned and managed bank offers big bank expertise with a
community-bank touch. Waterford belongs to CDARS (the Certificate of
Deposit Account Registry Service) that provides customers with FDIC
insurance of up to $50-million, assuring high net worth individuals that
their money is invested in a secure institution. For more information,
visit www.waterfordbankna.com.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of
information management and electronic commerce systems for the financial
services industry, driving innovation that transforms experiences for
financial institutions and their customers. Ranked No. 1 on the FinTech
100 survey of top technology partners to the financial services
industry, Fiserv celebrates its 25th year in 2009. For more
information, visit www.fiserv.com.
FISV-G
For more information at BAI RDC in Boston contact:
Media
Relations:
David Carden
Senior Vice President
Bank
Solutions
Fiserv, Inc.
402-421-4211
david.carden@fiserv.com
or
Additional
Fiserv Contact:
Lori Stafford-Thomas
Assistant Vice
President
Corporate Communications
Fiserv, Inc.
262-909-2300
lori.stafford@fiserv.com
Copyright © 2009, Business Wire, Inc., All rights reserved.
Copyright © 2009, NewsBlaze,
Daily News
Tags: Business wire, massachusetts, ohio, wisconsin, High Tech, Software, Medical, Consulting, Accounting and other Professional Services, Banking and Finance