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Kearny Federal Savings Bank Selects Premier From Fiserv For Account Processing As Part Of An Integrated, Enterprise-wide Banking Solution

Stocks in this article: FISV

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Kearny Federal Savings Bank, headquartered in Fairfield, N.J., has chosen the Premier ® bank platform for account processing, along with additional Fiserv solutions for mobile banking, person-to-person payments, check capture, online banking and bill pay. The $3.1 billion bank cited Fiserv integration, innovation and scalability as factors that will help the bank increase efficiencies and attract new accounts.

“By replacing disparate third-party solutions with integrated, leading-edge Fiserv solutions, our organization expects to see increased enterprise-wide efficiencies and cost savings,” said Craig Montanaro, president and Chief Executive Officer, Kearny Federal Savings Bank. “Not only did we want to streamline our processes, but as our commercial banking business expands and we seek to diversify our customer base, Kearny Federal Savings Bank sought a provider that could deliver innovative solutions to help us remain competitive.”

Offering mobile banking, person-to-person payments and enhanced online banking and bill pay is part of the 129-year-old bank’s strategy to expand its customer base by appealing to the next generation of customers while increasing loyalty among existing customers. Mobiliti™ from Fiserv will give the bank’s customers robust mobile banking and payments functionality across a range of devices and platforms, and Popmoney ® from Fiserv will enable consumers to send money directly to friends, family and service providers. With the implementation of Mobile Source Capture™ from Fiserv, consumers and small businesses will be able to safely and securely deposit checks from any location using a smartphone camera. Through its new relationship with Fiserv, Kearny Federal Savings Bank expects to be able to deliver current and future innovative products and enhancements to its customers more rapidly than previously possible.

Small business lending is an increasingly important market segment for Kearny Federal Savings Bank, due in part to the acquisition of a commercial bank in 2010. The Premier loan application will enhance the bank’s commercial lending functionality, enabling Kearny Federal Savings Bank to process and manage nearly every type of loan from a single application. The implementation of the Sageworks ® loan portfolio credit risk and management applications will help reduce the bank’s data-gathering challenges and inaccuracies in current, more manual processes.

“By choosing Fiserv as their new partner, Kearny Federal Savings Bank will have the technology in place to meet the needs of an expanding customer base, and all the tools necessary to achieve the bank’s operational efficiency and profitability objectives,” said Teri Carstensen, president, Bank Solutions, Fiserv. “From account processing to digital payments, Fiserv offers the integrated products and strategic services required to compete in today’s dynamic economic environment. We continue to deliver value, innovation and flexibility, as proven by our history of success in serving more than one-third of all U.S. financial institutions.”

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