Citizens Financial Services Chooses Fiserv for New Technology Platform; Indiana Bank Says New Solutions Will Help to Continue Steady Growth.Business Editors BROOKFIELD, Wis.--(BUSINESS WIRE)--Feb. 2, 2004 Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ) will provide a comprehensive range of technology products and services to Citizens Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , a savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. headquartered in Munster, Indiana. Tom Darovic, Executive Vice President of Retail Operations at Citizens, said the new core banking solution from Fiserv will enable Citizens to continue its steady growth in Northwest Indiana and Chicagoland while maintaining a high level of customer service. "Our primary focus since our founding in 1934 has been customers, so we want a core processing system to work seamlessly while allowing us to do an even better job of serving those customers," said Darovic, whose $1.5 billion institution operates 22 offices in Indiana and Illinois. "We believe Fiserv has a reputation for service that meshes well with our own corporate philosophies, so we see this as the beginning of a long-term relationship." Under a five-year agreement, Fiserv will supply its outsourced Information Technology, Inc. (ITI (Information Technology Industry Council, Washington, DC, www.itic.org) Formerly the Computer and Business Equipment Manufacturers Association (CBEMA), founded in 1916. ITI is a membership organization composed of approximately 30 large high-tech companies. ) core processing system - including such applications as the Director document management system and the Prime data analysis solution - as well as the Fiserv Premierecom Internet banking and Premierecorp Internet cash management systems. "Citizens Financial Services is an organization with a rich heritage of customer service and a keen eye to the future," said Jim Cross, Senior Vice President and Manager of the Fiserv Brookfield ITI Outsourcing unit. "We look forward to helping Citizens continue its tradition of growth and exceptional service." CFS CFS abbr. chronic fatigue syndrome CFS, n.pr See syndrome, chronic fatigue. CFS Chronic fatigue syndrome, see there Bancorp, Inc. is the parent of Citizens Financial Services, FSB (FrontSide Bus) See system bus. FSB - front side bus , a $1.5 billion asset federal savings bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks that provides community banking services and operates 22 offices throughout adjoining markets in Chicago's Southland and Northwest Indiana. Fiserv, Inc. (Nasdaq:FISV) provides industry leading information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com. |
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