We here at PROGRESS in Lending champion technology advancement. We like to report on success stories. As such, Bogota Savings Bank, a $650-million New Jersey-based bank, will move to Fiserv to streamline operations and better serve customers. 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.
“By integrating online banking, online account opening and other solutions with the core platform, Fiserv enables us to gain faster and better access to the information we need to deliver a superior customer experience and eliminate two-thirds of our existing third-party services,” says Kevin Pace, executive vice president, Bogota Savings Bank. “Having information available in one place and updated in real time helps our back office, marketing and frontline staff be more efficient as well.”
Bogota Savings Bank is looking forward to replacing inefficient manual processes and time-consuming batch operations with the customizable, real-time processing available in the DNA account processing platform from Fiserv. These new capabilities will enable the bank to stay in step with consumers who are looking to manage their finances as quickly and easily as possible.
“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 added. “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 core account processing, Bogota Savings Bank will leverage a range of solutions from Fiserv for digital banking, debit processing, payments, source capture, item processing, online account opening, and more.
DNA is an open, real-time account processing platform built for collaboration. A modern platform developed using contemporary, standards-based components, DNA provides a 360-degree view of customer relationships and facilitates streamlined processes within the financial institution.
“Understanding where technology and consumer expectations intersect is essential to delivering innovative, intelligent capabilities that meet real needs,” said Todd Horvath, president, Bank Solutions, Fiserv. “By upgrading to contemporary technology Bogota Savings Bank is positioning themselves to deliver on their customers’ high expectations.”
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.