Ridgewood Savings Bank Selects DNA from Fiserv to Accelerate Growth
255 Fiserv Dr.
Brookfield, WI, 53045
Press release date: March 31, 2014
• Largest mutual savings bank in New York selects DNA from Fiserv to attract and deepen customer relationships
• Unified design and open architecture of DNA will help Ridgewood Savings Bank increase efficiency
• Bank leaders cite the platform's person-centric design, business intelligence tools and ability to introduce new products quickly as key factors in their decision
Brookfield, Wis., – Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Ridgewood Savings Bank, based in Ridgewood, N.Y., has selected the DNA™ account processing platform and several complementary Fiserv solutions to accelerate its growth. The $5.1 billion asset bank will use the integrated Fiserv solution to attract new customers, deepen existing relationships and enhance its already excellent reputation for customer service.
As the largest mutual savings bank in New York State, Ridgewood Savings Bank required a unified enterprise platform that would drive efficiency across its 34 branches from the back office through to its customers. DNA will enable the bank to streamline operations and roll-out new, highly-relevant products more quickly and easily than ever before.
"DNA is a key component of our strategy to make Ridgewood Savings Bank more visible and competitive in the marketplace," said Peter M. Boger, chairman, president CEO of Ridgewood Savings Bank. "The platform's business intelligence tools will help us add relationships and expand existing ones while delivering on our commitment to superior service. We'll offer new services and boost efficiency with a state-of-the-art platform that we can build on for years to come."
Ridgewood Savings Bank selected DNA for its open architecture and person-centric design - factors that will allow the bank to easily integrate complementary solutions while maintaining a 360-degree view of its retail and small business relationships. Developed using modern, standards-based components, DNA provides Ridgewood Savings Bank with 24/7 real-time processing, virtually unlimited scalability and robust retail, mortgage and commercial banking capabilities.
With DNA, Ridgewood Savings Bank will also have the ability to add new functionality with integrated core extensions, called DNAapps™, which are available through the DNAappstore™ - the first collaborative online marketplace for custom core applications.
"While Ridgewood Savings Bank is new to DNA, this leading community bank has been a valued partner with Fiserv for over 20 years," said Steve Cameron, president, Open Solutions Division, Fiserv. "Ridgewood Savings Bank's selection of DNA reflects the success of our longstanding relationship and provides us with an even greater opportunity to help the bank grow with a vast array of integrated Fiserv solutions."
In addition to its hosted deployment of DNA, Ridgewood Savings Bank will implement Nautilus® for electronic content management, WireXchange® for wire exchanges, tMagic™ for DNA integrated teller capture, the CRM and Business Intelligence suite for DNA and card production services. The bank will integrate its existing Fiserv solutions into DNA, including ATM & Debit Solutions, Fraud Risk Solutions for Cards, Voice Response and the Financial Accounting suite for DNA. Annual Best Practice Reviews will help Ridgewood Savings Bank get the most out of its Fiserv investment.
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. DNA has been recognized by industry-leading analysts for its technology, user experience and breadth of functionality, including two recent awards from CEB TowerGroup for "Best-in-Class" product management and customer-centricity.
• DNA from Fiserv - www.fiserv.com/industries/bank-platforms/dna-bank-platform.htm
• DNAappstore from Fiserv- www.dnaappstore.com
About Ridgewood Savings Bank
Chartered in 1921, Ridgewood Savings Bank (www.ridgewoodbank.com) is the largest mutual savings bank in New York State with $5.1 billion in assets and 34 branches serving customers throughout the New York metropolitan area.
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.
255 Fiserv Dr.
Brookfield, WI 53045
Public Relations Manager