Fiserv Expands Footprint in Banks That Use IBM i
November 5, 2013 Alex Woodie
Fiserv doesn’t often advertise it, but it is a big driver of IBM servers with a pair of core banking applications, Signature and Premier, that run on the IBM i OS. Lately, the Brookfield, Wisconsin, software company has been selling lots of add-on solutions to these IBM i customers.
In September, Fiserv announced that The First National Bank of Long Island implemented its Common Origination Platform to help price and write consumer, business, and mortgage lending needs. FNBLI has run the Signature application on IBM midrange gear since 1987, and will begin using the Common Origination Platform in application service provider (ASP) mode.
In addition to Signature and the lending system, FNBLI runs a host of other Fiserv apps, including CheckFree bill payment, ConvergeIT, Risk Office, UChoose Rewards, Debit Processing, PEP+ and the Accel payments network.
In October, another Signature customer, Old National Bank, expanded its Fiserv footprint when it added Asperio to the mix. Asperio is a suite of software designed to help banks manage customer interactions by ensuring that other banking applications are well integrated and use consistent processes. The bank, which has $9.6 billion in assets and serves Kentucky, Illinois, and Indiana, also implemented Fiserv’s teller solutions.
“From an IT perspective, our key strategy is to simplify our environment,” Old National Bank’s CIO John Kamin said. “During our decision-making process, the question quickly became ‘why wouldn’t we use Fiserv.'” Apparently it hasn’t had a hard time answering that question, because in addition to Signature, Asperio, and the teller solution, Old National bank also uses Fiserv’s CheckFree bill payment, AML Manager, Fraud Risk Manager, and as card production services.
Continuing the old banking theme, Fiserv announced that another Signature customer, Old Point National Bank, has adopted the Common Origination Platform to help it write loans. The $840-million, Virginia-based bank will use rely on Fiserv to deliver the loan writing functionality through its ASP model. In addition to these two offerings, Old Point National Bank uses the Nautilus content management system and EnAct enterprise sales management system.
The add-on selling process has been working well for Fiserv, which last week announced third quarter revenues of $1.2 billion, an increase of $90 million from the same quarter last year. GAAP earnings per share from continuing operations in the third quarter was $1.22, up from $1.03 last year.
The company specifically called out its Mobiliti, Popmoney, electronic bill payment, and DNA account processing solutions as big drivers for the quarter. “Results for the quarter were solid across the board and in-line with our performance expectations for the full year,” said Jeffery Yabuki, president and CEO of Fiserv. The company’s stock was down slightly for the week.