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Welch State Bank Picks Core Platform and Integrated Solutions From Fiserv to Streamline Operations, Enable a Better Customer Experience and Support Gr

Monday, June 20, 2016

by Fiserv

  • Welch State Bank has signed a long-term agreement for Precision from Fiserv , opting for the inherent efficiencies of a platform built using a relational database
  • Precision and integrated Fiserv solutions automate common processes - enhancing efficiency, enabling a better customer and employee experience, and supporting growth
  • Move to Fiserv minimizes number of technology vendors and time spent managing vendor relationships so bank can focus on delivering financial services that keep pace with the speed of life

BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ:FISV), a leading global provider of financial services technology solutions, announced today that Welch State Bank, a $227 million asset financial institution based in Welch, Oklahoma, has selected the Precision® core account processing platform and a host of integrated solutions from Fiserv. Executives at the bank conducted their search for a new account processing platform with a goal of reducing manual processes, minimizing the number of technology vendors and enabling a better customer and employee experience. The platform also needed to be able to support the bank's continued growth.

"Our top priority was to improve operating efficiency while delivering the capabilities and service our customers expect," said Jay Victor, senior vice president and chief information officer, Welch State Bank. "Precision provides the system integration we need to achieve the efficiency we desire without compromising service."

As Welch State bank has grown in recent years, the organization has added employees. The bank anticipates that the efficiencies gained from its move to Precision and other Fiserv solutions will support continued growth while stabilizing staffing levels. Leaders at the bank were particularly drawn to Precision because it is built using a relational database, citing the inherent flexibility and efficiency as one reason for signing a long-term agreement for the solution. The relational database makes it easy for employees to find the information they need and to effectively track and manage customer relationships.

In addition to Precision, Welch State Bank has chosen the Source Capture Solutions® portfolio of offerings to enable image capture of items presented in the branch, at merchant locations and through mobile devices, delivering capabilities that are in step with the way people live and work today. The bank will use Director® for enterprise content management with a single archive for reports, checks and documents, as well as electronic fund transfer services and card services from Fiserv. Long term, the bank looks to continue adding Fiserv solutions to the mix.

"Welch State Bank recognizes the strong connection between streamlined operations and a better customer experience. Fiserv is partnering with the bank to give its staff the tools they need to put customers first - providing banking services that meet the growing expectations for speed and convenience," said Teri Carstensen, president, Bank Solutions, Fiserv.

In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today - financial services at the speed of life. Learn more at TheSpeedofLife.com.

About Fiserv

Fiserv, Inc. (NASDAQ:FISV) enables clients to achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more than 30 years, Fiserv has been a global leader in financial services technology. Fiserv is a FORTUNE 500 company and this year was honored to be named a FORTUNE magazine's World's Most Admired Company for the third consecutive year. In 2015 the company was recognized among Forbes magazine's America's Best Employers. For more information, visit Fiserv.com.

Media Relations:
Ann Cave
Director, Public Relations
Fiserv, Inc.
Additional Contact:
Elizabeth McMillan
Director, Corporate Communications
Fiserv, Inc.

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