Putnam-Greene Financial Corporation, which is based in Eatonton, Georgia, and has $510 million in assets, has selected Fiserv’s Precision platform and a host of other integrated solutions as it is moving to an outsourced account processing model for the first time.
Executives at the bank conducted their search for a new account processing platform with a goal of reducing manual processes, enabling a better customer and employee experience, as well as to “help bank staff sleep better at night”. The platform also needed to be able to support the bank’s continued growth.
The Brookfield-based financial services technology company will also offer Putnam-Greene its 'Retail Online' and 'Business Online' solutions, 'CheckFree RXP' and 'CheckFree Small Business' for consumer and business bill payment and a range of item processing and EFT solutions.
Minimizing the number of technology vendors can be more appealing to regulators and simplifies regulatory reporting, the statement further states.
In addition, Precision and other Fiserv solutions will support continued growth while stabilizing staffing levels. This single-vendor approach will also help speed processes and streamline workflows throughout the four chartered banks.
Founded in 1984 and headquartered in Brookfield, Wisconsin, Fiserv’s solutions are now used by more than 13,000 clients in over 80 countries worldwide. The company has also more than one-third of U.S. financial institutions relying on its product suite for account processing solutions and expertise.
Chip Benton, President of Putnam-Greene Financial Corporation, commented on the partnership: "The level of service from all members of the Fiserv team has been impressive. They continue to be very responsive and helpful. During the decision process, we spoke with several other Fiserv clients of various asset sizes, and we heard nothing but good comments about the software and the people. This is highly unusual in such a complicated industry. We have tremendous confidence in Fiserv."
Byron Vielehr, Head of Depository Institution Services at Fiserv, added: "There's significant focus right now on creating a new kind of banking experience that resonates with the way people live today. Putnam-Greene Financial Corporation is delivering on their customer's expectations by creating an integrated digital experience, while also streamlining processes to allow the bank's staff to spend more time with customers."
