Fiserv supports financial institutions in their remote migrations amid COVID-19

By Pavithra R

Fiserv, a leading global provider of financial services technology solutions, has announced that within the last 5 months, more than 20 financial institutions (FIs) have completed remote core conversions to advance their individual strategies of digital engagement and enhance customer and member service innovations.

With the current emphasis on social distancing requirements, many financial institutions are looking forward to advancing with updates that will allow them to serve consumers better, driving new levels of demand for remote processes.

For Investors Bank, a $26-billion institution, its most recent acquisition was an opportunity to strengthen expansion in the Long Island market while adding a focus on SMB customers.

“Heading into the conversion, there were a number of concerns about managing the process remotely. What helped us through was the great communication with Fiserv, our regulators, and the staff at the acquired bank – all of whom were working remotely,” said Chris Blotto, executive vice president, and chief information officer at Investors Bank.

With Mechanics Bank acquiring the much larger Rabobank, the bank made the strategic decision to upgrade its online account opening capabilities and commercial cash management with Fiserv technologies. Rather than allowing COVID-19 to put the initiative on hold, the bank worked with Fiserv to complete the entire conversion process with remote support.

“Over our 20-year relationship, Fiserv has proven themselves to deliver what they say they will, and they delivered an excellent conversion under challenging conditions,” said Chris Pierce, executive vice president, and chief operating officer of Mechanics Bank.

Recently, Fiserv introduces ‘Back2Business’ to strengthen small businesses impacted by COVID-19.

Fiserv is committed to moving its conversion pipeline forward remotely for as long as is needed under guidance from national and local healthcare leaders.

“COVID-19 has compelled us to work in new ways, and our clients and associates have come together, not missing a beat as we have completed these mission-critical conversion projects. We will continue to leverage our expertise in remote operations and help financial institutions advance their strategic objectives,” said Todd Horvath, group president of account processing at Fiserv.

Established since 1984, Fiserv is a global provider of payment and financial services technology. The FinTech aspires to move money and information in a way that moves the world. The FinTech is a member of the S&P 500 Index and the FORTUNE 500 and is among FORTUNE World’s Most Admired Companies.