Fiserv CCS and ITI Deliver a Single-View Data Warehouse Suite.LINCOLN, Neb. -- Solution Enables Citizens Business Bank to Create a "Customer Universe" Collecting and transforming information from diverse systems into a single view has created new efficiencies and higher customer satisfaction for $5 billion Citizens Business Bank. The Ontario, Calif.-based financial institution is combining the integrated architecture of its Premier(R) suite of banking software from 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. ) with data from its other critical systems by deploying a comprehensive information management and data warehouse system from Fiserv Customer Centered Solutions (Fiserv CCS (1) (Common Channel Signaling) A communications system in which one channel is used for signaling and different channels are used for voice/data transmission. Signaling System 7 (SS7) is a CCS system, also known as CCS7. See SS7. ). Both ITI and Fiserv CCS are units of Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ). "Each of the products and services our customers use contains a representation of their relationship with our bank," said Citizens Business Bank Senior Vice President and CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. Elsa Zavala. "However, with our use of multiple systems throughout the bank, these representations were disparate. Now we're able to create a single view of that information and convert it into a valuable source for enhancing current business strategies and income opportunities. In essence, we create a 'customer universe' within Citizens Business Bank." By seamlessly integrating the InformEnt(R) data warehouse from Fiserv CCS, financial institutions are able to access a consolidated source of current, accurate and consistent information on customers, products, transactions, sales, financial performance, profitability and marketplace activity. An organization can shift focus from collecting and validating information to absorbing, collaborating, analyzing and applying that information to generate profit. "The database design of this solution enables us to do so many things, including customer trending analysis, tracking total customer penetration of products and services and standardizing customer data," explained Zavala. "It also creates one access point for marketing, cross-selling and extracting customer profitability Customer profitability (CP) is the difference between the revenues earned from and the costs associated with the customer relationship in a specified period. According to Philip Kotler,"a profitable customer is a person,household or a company that overtime,yields a revenue information." Jamie Deterding, ITI senior vice president and general manager of the company's Decision Metrics executive intelligence operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon , said the ability to provide financial institutions with a 360-degree view of customer relationships and their profitability was key to ITI's decision to offer this solution to clients. "Plus, it offers customizable analytics in the areas of financial reporting, risk and channel management. It's a very comprehensive solution," Deterding said. "By working with ITI, we're able to provide financial institutions with InformEnt, the industry's leading enterprise-wide data warehouse, to drive business intelligence and analytics," said Stephen Yuran, vice president of product and channel strategy with Fiserv CCS. "InformEnt enables ITI clients to obtain consolidated customer and household views, leverage unlimited historical data and aggregate information from across the enterprise to power their analytics and business intelligence." Fiserv CCS, a unit of Fiserv, Inc., provides software solutions that enable financial institutions and service providers to drive profit by effectively leveraging information technology. Fiserv CCS provides a complete suite of contact, relationship and information management, sales force automation Automating the sales activities within an organization. A comprehensive SFA package provides such functions as contact management, note and information sharing, quick proposal and presentation generation, product configurators, calendars and to-do lists. , analytics, business process management and business intelligence tools for the financial industry. More information can be found at www.ccs.fiserv.com. Serving more U.S. banks and savings institutions than any other software and services vendor, ITI offers several core solutions, including the Premier and PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. Vision suites, as well as a broad range of supporting products and services. Founded in 1976, ITI works closely with some of the best-known technology companies in the world and has grown to incorporate businesses and offices nationwide, including its Premier, Precision Computer Systems (PCS), Branch Automation, eSolutions, Digital Solutions, Decision Metrics and Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. operating units. A subsidiary of Fiserv, Inc., ITI can be found on the Internet at www.itiwnet.com. Fiserv, Inc. (Nasdaq:FISV) is a provider of information management systems and services to the financial and health benefits industries, including transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , 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 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv was ranked the largest provider of information technology services to the U.S. 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. industry in the 2004 and 2005 FinTech 100 surveys by the American Banker American Banker is a daily newspaper covering the financial services industry. Founded in 1835 and based in New York, American Banker's 70 reporters and editors in six cities monitor developments and breaking news affecting banks. newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com. |
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