Iowa bank taps Fiserv for solutions to increase efficiency, attract customers
Fiserv Inc., a provider of financial services technology solutions, has announced that Farmers & Merchants Savings Bank, based in Iowa City, Iowa, will upgrade its retail and business banking capabilities with the Premier core account processing platform from Fiserv.
“Our customers have a great deal of choice in where they bank,” the FI’s chief operating officer Cindy Kovach said in a press release. “The Fiserv technology platform will enable us to offer additional products … so we can stand out and give people more reasons to bank with us.”
In addition to the Premier platform, the bank will implement integrated solutions for online and mobile banking, business analytics and more, the release said. These new capabilities will allow the bank to automate tasks and reduce manual processes to boost efficiency.
The automation of reporting will save a significant amount of time, enabling employees to focus on higher value, customer-oriented tasks, in addition to reducing the chance for human error and helping to facilitate regulatory compliance, the release said.
“The bank recognizes the potential for growth that comes with offering a robust set of capabilities to attract new retail and commercial customers,” Todd Horvath, president of bank solutions at Fiserv, said in the release. “Putting the right technology in place positions them to capture that potential.”