Market Overview

Fiserv And Cisco Join Hands To Allow Financial Institutions To Advance Branch Transformation Tactics


Fiserv, Inc. (NASDAQ: FISV) revealed an agreement with Cisco (NASDAQ: CSCO) to deliver communications solutions that enable financial institutions improve internal collaboration and drive customer engagement. The company stated the alliance allows integrated communications capabilities essential for financial institutions to execute their branch of the future strategies. That included virtual interaction with remote experts and secures wireless access supporting a universal banker model.

Fiserv said it would offer these hosted communications and infrastructure solutions through its portfolio of managed services, Sentry Performance SolutionsSM. The company added that its portfolio included network services, hosting services, network security services, hardware and software life cycle management, and unified communications services.

The company's President for Depository Institution Services, Bryon Vielehr, commented, "Communication today means having the flexibility to call, meet, share or message instantly, using whatever device you prefer, in a way that strengthens relationships and increases productivity. Our partnership with Cisco puts Fiserv at the forefront of enabling our clients' branch transformation strategies, and allows them to deliver services with the reliability, speed and efficiency consumers expect."

Interestingly, research director for Consumer Banking Engagement Tactics of IDC Financaial Insights, Marc DeCastro, added "The technology required to transform the branch has reached a point where the benefits can no longer be ignored. The end result of transforming the branch will be when the right mix of technology and personnel allows the financial institution to immediately engage with the customer as opposed to the customer engaging with the financial institution, and both can mutually reap the benefits."

FISV traded down by 0.65% while CSCO traded up by 0.3 percent on Wednesday.

Posted-In: News


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