Farmers & Merchants Savings Bank moves to Fiserv core system
Iowa-based Farmers & Merchants Savings Bank is looking to grow its retail and business banking capabilities via Fiserv’s Premier core account processing platform.
Along with Premier, the bank will get integrated solutions for retail and business online banking, mobile banking and business analytics.
Cindy Kovach, chief operating officer, Farmers & Merchants Savings Bank, says Fiserv’s platform will enable it to “offer additional products, such as checking accounts tailored to different customer needs, so we can stand out and give people more reasons to bank with us”.
Fiserv says daily reporting is one area where automation will “provide notable benefits”. Bank employees will no longer be required to manually run, print, sign and file daily reports.
The automation of reporting will also “reduce the opportunity for human error and help facilitate regulatory compliance”.
Farmers & Merchants Savings Bank is an independent community bank and was founded in 1901. It currently operates three branches in eastern Iowa.
Fiserv has had a good harvest recently. Just a few days ago Carter Bank & Trust, a $4.1 billion community bank with ten branches in Virginia, announced it was modernising its technology with the company.