Fiserv announces 9 deals, including $991M US Metro Bank

Core provider Fiserv revealed it has signed multiple new banks during the first quarter, including $991 million U.S. Metro Bank, based in Garden Grove, Calif., which chose its Premier banking platform.

Meanwhile, the $1 billion Plains Commerce Bank renewed its Precision core from Fiserv in Q1. The Hoven, S.D.-based bank is one of the largest community bank mortgage lenders in the U.S. with originations exceeding $5 billion in 2021, according to Fiserv. Other key new transactions announced by the core provider include:

• $136 million Cendera Bank, based in Bells, Texas, chose Precision;
• $41 million Omaha Douglas Federal Credit Union, based in Omaha, Neb., chose Portico, Fiserv’s core solution for credit unions;
• $281 million Profile Bank, based in Rochester, N.H., chose Fiserv’s core solution DNA through COCC, a Fiserv reseller in the Northeast U.S.;
• $333 million Hudson River Community Credit Union of Corinth, N.Y., chose DNA through COCC;
• $752 million Walden Mutual, based in Concord, N.H., chose DNA through COCC;
• WE Florida Financial Credit Union, based in Fort Lauderdale, Fla., with assets totaling $650 million, migrated from its existing Fiserv core to DNA;
• $305 million 360 Federal Credit Union, based in Windsor Locks, Conn., migrated from its existing Fiserv core to DNA; and
• Texas National Bank of Jacksonville of Jacksonville, Texas, signed a PAN-Fiserv renewal of the Premier core. The bank bought a full suite of Fiserv solutions to improve efficiencies and customer experience, Fiserv noted.

De novo EntreBank to use CSI’s NuPoint Core for business banking

Bloomington, Minn.-based EntreBank will deploy Computer Services, Inc.’s (CSI) NuPoint core platform as the foundation for its integrated digital-banking services. The bank, which opened in March, specializes in small- and mid-size business (SMB) banking.

The implementation of CSI’s NuPoint core will support an open architecture to provide EntreBank customers with online and mobile banking services, according to the announcement.

“We know entrepreneurs and small business owners have unique needs that require creative solutions. By truly understanding our clients’ businesses, we create value for them by helping them capitalize on the best and timeliest opportunities,” Tim Viere, chief executive at EntreBank, said in a release. “In every measure, CSI rose to the top as the best banking services provider that could deliver the innovative technology advancements and customer service we needed to deliver that value for our customers.”

In addition to core banking services, EntreBank will use CSI’s managed IT services.

$2.5B Republic Bank of Chicago chooses fintech upSWOT platform

The 2.5 billion Republic Bank of Chicago selected alternative data platform upSWOT, according to a LinkedIn post by the fintech. The bank will leverage the platform with its online and mobile banking data to monitor cashflow forecast and KPIs and achieve credit-score boost features for SMBs and mid-market customers, the post stated. UpSWOT specifically mentioned core provider FIS as instrumental in the deal.

UpSWOT is deployed as a white-label business finance management solution in partnership with financial institutions. It aggregates and analyzes data from more than 120 accounting, human resources, enterprise resource planning, e-commerce, and other software-as-a-service systems commonly used by SMBs.

$1.2B American State Bank to deploy NICE cloud, AI-based fraud and AML platform

The $1.2 billion American State Bank is deploying fintech NICE’s cloud- and AI-based fraud and anti-money laundering (AML) solution, Xceed. The partnership will see American State Bank leverage the full Xceed omnichannel fraud and AML solution, including behavioral analytics omnichannel fraud prevention, according to a release. That includes support for real-time onboarding, according to a spokesperson.

The Lubbock, Texas-based bank had outgrown its previous AML and fraud tool, according to Amy Frederickson, the bank’s senior vice president of compliance.

“As we evaluated numerous financial crime solutions and platforms, we were impressed by the coverage and ease of use within NICE Actimize’s Xceed and its advanced machine learning and behavioral analytics,” Frederickson said in the announcement.

$536.7M Heritage Financial Credit Union selects Scienaptic’s AI Platform

The $536.7 million Heritage Financial Credit Union is using Scienaptic’s AI platform for alternative credit-decisioning, with early results indicating a potential for over 25% more auto-approvals for auto loans and 35% more auto-approvals for unsecured loans, according to a release.

The deployment will allow Middletown, N.Y.-based Heritage Financial to streamline and automate its credit-underwriting process, as well as increase approvals. The deployment also will support a more personalized and faster experience for its members, according to Heritage Financial CEO and President Michael Ciriello.

“The deployment of Scienaptic’s AI-powered credit-decision platform is enabling us to provide a more personalized experience for our members and provide them with faster and increased access to loans,” Ciriello said in the announcement. “Their AI-powered technology’s advanced insights will assist us in providing more loans and increase growth opportunities for our communities.”

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