Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Bank of the Ozarks, headquartered in Little Rock, Arkansas, successfully converted to the Premier(R) bank platform. In addition, the bank is implementing a host of additional Fiserv solutions to enhance capabilities and optimize processes for the institution. With 11 acquisitions since 2010, the $6.77 billion Bank of the Ozarks cited the scalability, integration and innovation of Fiserv products and services as factors that will help the bank continue its expansion into new markets.
"Thanks to careful planning and execution by our staff and the Fiserv team, our conversion to Premier went smoothly," said Sean O’Connell, Chief Information Officer, Bank of the Ozarks. "As we grow, it’s important for Bank of the Ozarks to remain customer-centric, and Fiserv technology is a quantum leap for our company in terms of capabilities and impact. Replacement of disparate third-party systems with one integrated Fiserv solution gives our customers access to consistent, real-time information, while also enhancing enterprise-wide efficiencies and cost savings."
To meet increasing demand for 24/7 access to financial services, Bank of the Ozarks is implementing several new and enhanced digital capabilities, including Popmoney(R) for person-to-person payments, Mobile Source Capture(TM) for mobile check deposit and Mobiliti(TM) for mobile banking.
A key driver in the bank’s decision was the comprehensive mobile platform offered by Fiserv, which delivers a robust mobile channel and mobile alert functionality, enabling customers to receive timely push notifications on their mobile devices.
Several Fiserv solutions will improve operational efficiency for Bank of the Ozarks, while helping the bank manage customer relationships. Teller Source Capture(TM), for example, facilitates balancing of deposits at the teller line while the customer is present, enabling real-time balance information, faster access to funds and earlier fraud detection. Bank of the Ozarks also selected Weiland Account Analysis(TM) to streamline commercial account analysis and provide customized statements for commercial accounts.
"Bank of the Ozarks sought a partner that would empower excellent customer experiences on a national level," said Teri Carstensen, president, Bank Solutions, Fiserv. "Bank of the Ozarks joins the more than one-third of all U.S. financial institutions that look to Fiserv to help them grow and increase profitability while meeting complex regulatory demands and adapting to changing consumer preferences."
Bank of the Ozarks chose the Premier account processing platform for its robust functionality, scalability and open integration with an extensive set of best-in-class Fiserv solutions. In addition, the bank selected a wide array of additional innovative solutions from Fiserv, including: Accel(TM) payments network and other card services solutions, Business Analytics for enterprise-wide reporting functionality, Business Process Manager for new account management, CheckFree(R) RXP(R) for bill payments, Director(R) for enterprise content management, EnAct(TM) for enterprise sales management, Integrated Teller for real-time customer and account information, Prologue(TM) Financial Accounting Services, RemitStream(R) Electronic Lockbox, ReserveLink(R) for deposit reclassification, Retail Online(TM) and Business Online(TM) for online banking, and WireXchange(R) for wire transfers.
Fiserv is the U.S. market leader in account processing services, and more than one-third of U.S. financial institutions rely on Fiserv for account processing solutions and expertise. Javelin Strategy & Research named Fiserv best mobile banking provider for three consecutive years, and Popmoney person-to-person payments are currently offered at nearly 2,400 banks and credit unions.