) declared that its complete outsourced banking solution services
and Premier bank platform have been adopted by Capital Bank. With
$420 million in assets, the bank selected Fiserv given its highly
developed technology with flexible, scalable and integrated
Previously, Capital Bank had been utilizing the company's
Premier bank platform for its account processing through an
autonomous dealer. However, with this agreement, the bank has
decided to completely outsource its account processing unit through
Fiserv's service center.
Moreover, this association will help the bank deploy not only
the company's Premier bank platform but also gain access to a range
of Fiserv's service offerings including Consumer and Commercial
Credit Full Service to control the credit card portal, Retail
Online and Business Online to manage e-banking process, Mobiliti to
organize mobile banking, AccountCreate for effortless e-account
opening, CheckFree RXP to provide bill payment solution and
Popmoney for person-to-person payment services.
The company's wide array of products are targeted to remove the
account process management at Capital Bank and augment its client
base geographically. Capital Bank CFO Filip Feller expressed his
pleasure on the venture by stating that Fiserv's technologically
advanced services not only fulfill the bank's necessities but also
exceed its expectations with its integrated solutions.
Fiserv appears quite proactive in winning contracts of late. On
June 28, 2012, Tech Credit Union had chosen its XP2 account
processing solutions portal. This was done with the clear intent of
ameliorating Tech Credit's operations management system along with
providing better service to its customers. We can be confident of
such contract wins as these may prove to be major growth drivers
for the company's upcoming second quarter results of fiscal
However, even with such moves, Fiserv should remain aware of its
rivals. The company's primary competitors in the industry comprise
big players such as
Big Official Payments Holdings, Inc.
Fidelity National Information Services, Inc.
We currently have a long-term recommendation of Neutral for
Fiserv. The stock also bears a Zacks #3 Rank, which translates into
a short-term rating of Hold.
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