Recently, Fiserv, Inc. (FISV) declared that its complete outsourced banking solution services and Premier bank platform have been adopted by Capital Bank. With $420 million in assets, the bank selected Fiserv given its highly developed technology with flexible, scalable and integrated systems.
Previously, Capital Bank had been utilizing the company’s Premier bank platform for its account processing through an autonomous dealer. However, with this agreement, the bank has decided to completely outsource its account processing unit through Fiserv’s service center.
Moreover, this association will help the bank deploy not only the company’s Premier bank platform but also gain access to a range of Fiserv’s service offerings including Consumer and Commercial Credit Full Service to control the credit card portal, Retail Online and Business Online to manage e-banking process, Mobiliti to organize mobile banking, AccountCreate for effortless e-account opening, CheckFree RXP to provide bill payment solution and Popmoney for person-to-person payment services.
The company’s wide array of products are targeted to remove the account process management at Capital Bank and augment its client base geographically. Capital Bank CFO Filip Feller expressed his pleasure on the venture by stating that Fiserv’s technologically advanced services not only fulfill the bank’s necessities but also exceed its expectations with its integrated solutions.
Fiserv appears quite proactive in winning contracts of late. On June 28, 2012, Tech Credit Union had chosen its XP2 account processing solutions portal. This was done with the clear intent of ameliorating Tech Credit’s operations management system along with providing better service to its customers. We can be confident of such contract wins as these may prove to be major growth drivers for the company’s upcoming second quarter results of fiscal 2012.
However, even with such moves, Fiserv should remain aware of its rivals. The company’s primary competitors in the industry comprise big players such as Big Official Payments Holdings, Inc. (OPAY), Fidelity National Information Services, Inc. (FIS) and Equifax Inc. (EFX).
We currently have a long-term recommendation of Neutral for Fiserv. The stock also bears a Zacks #3 Rank, which translates into a short-term rating of Hold.Read the Full Research Report on FISV
More From Zacks.com
- Investment & Company Information