September 27, 2006
Fiserv Inc. to provide core banking services to Denmark State Bank
In an older post, I mentioned the high dependence of investment banks on outsourcing. In fact, outsourcing in the banking sector has been on a steady growth path across the globe.
When the time came to have a relook at its outsourcing partner, Denmark State Bank in Wisconsin opted to go for Fiserv Inc., rather than renew the contract with its existing service provider.
It's really the requirement for change that has prompted Denmark State Bank to opt for Fiserv Inc in the place of its current service provider. The Bank officials assert that the Premier core capability of Fiserv is a better option that enables the bank to access all customer data from a single application without giving up functionality requirements.
The Fiserv clearing network will posit the bank pretty well to create substitute checks as and when required and extract more mileage from the deal. Finextra reports on Fiserv's Information Technology Inc. (ITI) business unit:
Available for both outsourced and in-house environments, ITI's openly integrated software suite offers products for virtually every function, including Internet banking, enterprise content management, executive intelligence, relationship management, branch automation and core accounting, all available on the industry's most popular hardware platforms.
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