Fiserv signs Carter Bank & Trust for tech overhaul
Modernising banking tech in Virginia
Carter Bank & Trust, a $4.1 billion community bank with ten branches in the US state of Virginia, is modernising its technology – front-to-back office – with Fiserv.
On the way out is the Coresoft core banking system from another US banking tech vendor Vsoft, FinTech Futures understands.
According to Fiserv, the bank has embarked on this major tech overhaul “to modernise operations, diversify income and lending opportunities, and attract new customers”. It is looking to play a more active role in areas such as commercial and industrial lending.
As part of its “strategic transformation” it will introduce a range of digital solutions and automate multiple manual processes.
The bank will implement Fiserv’s Digital Edge suite, including the DNA account processing platform, Architect for mobile and online banking, and digital solutions for electronic bill payments, person-to-person (P2P) payments and mobile cheque deposits. It will also deploy Fiserv’s tech for financials, enterprise content management, document imaging, card services, business analytics, financial crime and risk management.
“The technology solutions we’re getting from Fiserv are truly transformational for us,” says Litz Van Dyke, CEO of Carter Bank & Trust.
Matt Speare, the bank’s CIO, describes digital channels and real-time capabilities as “critical” for the bank.
“Three years from now the products, the funding mix and the efficiency of Carter Bank will be much different than today, and our ability to provide personalised service will be even better,” Van Dyke adds. “All of this is being driven and supported by our new technology platform from Fiserv.”
