Fiserv Expands Relationship with Lexington State Bank; North Carolina Bank Installs Enterprise Relationship Management Suite to Drive Business Process Changes.PITTSBURGH -- 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. ), the customer relationship management (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ) business of Fiserv, Inc. (Nasdaq: FISV FISV Fiserv, Inc (stock symbol) ), has expanded its relationship with Lexington State Bank Lexington State Bank (commonly known as "LSB") was a banking company based in Lexington, North Carolina. Its motto was "The Bank" and its slogans were "Beeline Banking", and "Easy as L-S-B". , Lexington, N.C. Lexington State Bank is implementing the browser-based Enterprise Relationship Management Software Suite - a solution designed to improve the customer experience, reduce costs, improve efficiency and retain and build the customer base through effective sales and servicing processes - to more than 400 associates. At the center of the relationship with Fiserv CCS is Lexington State Bank's Model Branch methodology, which helped the bank to determine how it wanted to manage sales and service initiatives bank-wide and establish best practices. Through an extensive CRM evaluation, Lexington State Bank found that the Enterprise Relationship Management Suite provided the right mix of tools to accomplish its goals. Richard Balentine, executive project manager of Lexington State Bank, said the selection of a CRM tool is helping the bank to achieve its Model Branch environment so that customers and prospects are treated appropriately across the enterprise. "ERM (Enterprise Relationship Management) An umbrella term with many shades of meaning over the years. It may refer to the management of information from any or all of an organization's customers, suppliers, business partners and employees. is the foundation needed to provide LSB (Linux Standard Base) A standard interface (ABI) for Linux from the Linux Foundation (www.linux-foundation.org). Introduced in 2001 by the Free Standards Group, which later became the Linux Foundation, applications based on the LSB standard will run properly under customers with the consultative advisory sales approach as defined by Model Branch," Balentine said. "The selection process was simplified by our existing relationship with Fiserv CCS. It is critical for us as a small, regional bank to gain the competitive advantages that Enterprise Relationship Management provides. We are creating a collective knowledge base so that the whole bank knows what issues need to be addressed and how to address them, and we have the confidence that all associates have the same information and can meet the needs of our customers. This creates a customer-driven methodology that will differentiate our bank from the competition and create value to our customers through enhanced business processes and associate knowledge." The implementation is a multi-faceted approach that extends beyond software to focus on processes and people across the bank and leverage existing infrastructure. Lexington State Bank will now have the ability to integrate its Fiserv SourceOne core banking system, ancillary third-party vendors and Fiserv InformEnt Data Warehouse so that it can disseminate key information to the front line and back office using a role-based browser portal. The bank will have a complete view of customers, enhanced ability to manage sales and service opportunities and referrals, and the ability to measure the results of individual initiatives. Lexington State Bank is implementing several components of the ERM Suite, including the Contact Management, Campaign Execution, Business Process Management and Sales Force Management modules to effectively retool re·tool v. re·tooled, re·tool·ing, re·tools v.tr. 1. To fit out (a factory, for example) with a new set of machinery and tools for making a different product. 2. its business processes. "The ERM Suite is the hub that pulls disparate data together, disseminates that information to the appropriate people and promotes the best-practice initiatives that Lexington State Bank has established," said Regis G. Rapp, president of Fiserv Customer Centered Solutions. "They will achieve substantial efficiency and productivity gains by leveraging their existing systems and integrating them into the ERM Suite." Fiserv Customer Centered Solutions, 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. Fiserv, Inc. (Nasdaq:FISV) provides 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 FinTech 100 survey 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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