Hawaiian banking company chooses Fiserv.BROOKFIELD, Wis.--(BUSINESS WIRE)--July 1, 1997--Fiserv Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :FISV FISV Fiserv, Inc (stock symbol) ) has signed a five-year, multimillion-dollar license and service agreement to provide its Comprehensive Banking System (CBS (Cell Broadcast Service) See cell broadcast. ) in-house software package to a pair of financial institutions owned by CB Bancshares Inc., Honolulu, Hawaii. City Bank and International Savings and Loan Association savings and loan association, type of financial institution that was originally created to accept savings from private investors and to provide home mortgage services for the public. The first U.S. savings and loan association was founded in 1831. of Honolulu chose the CBS system primarily to make product delivery more efficient, said Stephen H. Ching, vice president of management information systems at City Bank. "The range of Fiserv complementary products will enable us to replace our existing products with a total solution," Ching said. "Until now, our complementary products have been very fragmented and we have had to create and support numerous interfaces." In addition to core processing, the Fiserv CBS package provides full branch automation, bank-by-phone, loan origination and tracking, check imaging, optical storage and retrieval, customer marketing information, and asset/liability management Asset/Liability Management A technique companies employ in coordinating the management of assets and liabilities so that an adequate return may be earned. Also known as "surplus management. . Under the pact, the Fiserv CBS unit, based in Orlando, Fla., will act as systems integrator. Fiserv now has seven core processing customers in Hawaii. City Bank and International Savings boast combined assets of $1.4 billion and 23 offices. Fiserv Inc. is an independent provider of technology solutions and related information management services and products to more than 5,000 banks, credit unions, mortgage firms and savings institutions worldwide. A publicly held company headquartered in Brookfield, Wis., Fiserv is traded on the NASDAQ over-the-counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. under the symbol FISV. CONTACT: Fiserv Inc., Brookfield Chuck Doherty, 414/879-5966 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion