Bogota Savings Bank in tech modernisation with Fiserv
Fiserv has signed Bogota Savings Bank, a $650 million New Jersey-based bank, for its suite of front-to-back office solutions.
“In reaching its decision, Bogota Savings was especially drawn to the integration between Fiserv core account processing technology and key capabilities such as digital banking and payments, which will facilitate a streamlined user experience for both customers and employees,” the vendor says.
The bank will replace “inefficient manual processes and time-consuming batch operations with the customisable, real-time processing available in Fiserv’s DNA account processing platform”, the company adds.
Kevin Pace, the bank’s EVP, says the new technology will eliminate two-thirds of the bank’s existing third-party services.
“DNA offers a tremendous amount of flexibility and control over how we want to operate by providing access to all of its data fields,” Pace notes. “No matter what we need to do, it seems there’s a way to do it – usually in minutes or hours rather than days or weeks.”
In addition to the DNA core banking system, Bogota Savings will implement a range of products from Fiserv for digital banking, debit processing, payments, source capture, item processing, and online account opening.