Randolph Savings Bank in early contract renewal with Fiserv
Massachusetts-based community bank, Randolph Savings Bank, has renewed its long-term contract with Fiserv for a host of back and front office solutions. The renewal was spurred on by the bank’s IPO.
Randolph Savings Bank floated its shares in July. It also completed the integration of its earlier acquisition – First Eastern Bankshares Corporation and its subsidiary, First Federal Savings Bank of Boston – significantly growing Randolph Savings Bank’s mortgage business.
The operations have been united on Fiserv’s Cleartouch core banking platform, which has been running at Randolph Savings Bank for a number of years.
The bank has also signed for a broad range of digital banking tools from Fiserv, including the vendor’s item processing services, card services, Mobiliti (mobile banking), Retail Online and Business Online (consumer and business internet banking), CheckFree for consumer and SME e-payments, and Popmoney for person-to-person (P2P) payments.
Prior to the IPO, the bank’s management “re-evaluated its needs” regarding technology, according to Fiserv.
Jim McDonough, CEO of Randolph Savings Bank, comments that “Fiserv is the right partner to help us reach our goals, give our customers the service they expect and stay relevant among fierce competition in the Boston area”.