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  • Fiserv Unveils New Release of Core Banking Platform

    October 26, 2010 Alex Woodie

    Better fraud detection is one of the key new features in Signature version 10.1, the new release of the IBM i-based core banking system unveiled yesterday by Fiserv. The company also updated Aperio, a “customer interaction management” product designed to be deployed with Signature.

    Detection of fraud has been enhanced in Fiserv 10.1. The company says the Fraud Risk Manager component is better able to detect potential fraud by incorporating non-financial event information streams into the decision engines that continually scan for signs of fraud. The software looks for fraud in both internal and external users.

    Fiserv also updated Aperio, a software product that provides banks with a customizable framework that generates personalized product offerings, such as offers of new secured and unsecured loans. With version 10.1, Fiserv has bolstered the product to support unique account number formats. It also comes with new administration tools and better support for content management systems and electronic signature pads to decrease reliance on paperwork.

    Signature is one of two i/OS-based core banking systems from Fiserv. The other offering, called Premiere, was originally developed by ITI and is often positioned as Fiserv’s flagship core processing software. Signature (previously named CBS, for Comprehensive Banking System) was previously developed by its CBS subsidiary, and sold internationally under the ICBS banner.

    Meanwhile, Fiserv also announced that American Savings Bank is getting good dividends so far from Signature and Aperio. The Honolulu-based bank, which has nearly $5 billion in assets and 600,000 customers across the island state, says the new software has contributed to a 50 percent reduction in operating costs, while improving the customer experience.

    American Savings attributes much of the time savings to Aperio. For example, the new account opening process has been reduced from approximately 15 minutes to between five and ten minutes.

    “Aperio was a key differentiator in our selection of Fiserv,” states Rick Robel, the bank’s executive vice president of operations and technology. “For many common processes, we have reduced the frequency of re-entering customer information, and the information is available across most channels and departments with plans for continued integration and process improvement. Our customer-facing employees find Aperio easy to use and now have more time to focus on the customer’s needs.”

    RELATED STORIES

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Volume 10, Number 38 -- October 26, 2010
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Table of Contents

  • IBM i 7.1 Supported by 120 ISVs with 300+ Apps, According to IBM Directory
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  • Brooks Goes Unicode with Printer Utility
  • MVP Unveils JAMS 5.1
  • Fiserv Unveils New Release of Core Banking Platform

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