Byline: Maggie Scarborough, Managing Director, April 29, 2010
(c) 2010 FinServ Strategies. All rights reserved.
Prior to the NACHA Payments 2010 Conference, I riffed on what was needed for better business execution in the industry (banks and vendors), especially on the cash management system front. A late 2009 conversation with Dan Nagy, then the very new SVP and GM at Fiserv Business Services, inspired my thinking. Among other projects, Dan is providing the leadership to pull together the various online banking solutions (BANKLINK, Premier eCorp, Voyager) into one cohesive offering – no small task. We had spoken about the need for reality and discipline (I say from both banks and vendors) in the execution of the cash management development plan as well as allowing the teams on both sides to experience success. So when I spoke with Dan a couple of days ago, we talked about how they fared.
Thus far, Fiserv has executed on the migration plan to a consolidated business banking solution in a very compressed time frame. The now cross-functional team has been executing on a plan of gap remediation among the 3 solutions, and then bringing them together with a SaaS platform build-out and a software-based solution. The team is leveraging the development strength of the Voyager platform along with its consumer and small business banking acumen, the detailed cash management capability of BANKLINK, and the durability offered from the core services processing center of the Premier eCorp team. Communicating with customers and delivering interim steps when promised along the consolidation migration have been key efforts in a relatively short time. Fiserv indicates that customer feedback has been very positive. Leveraging other Fiserv assets and delivering them through the new consolidate platform will provide the differentiation along with a dose of innovation. It is a plan that will continue through 2012. With the discipline of this team, I have no doubt they will succeed and with table stakes of a 1,500+ financial institution customers in this segment they need to. Stay tuned.
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Maggie Scarborough, Managing Director
Maggie@FinServStrategies.com, +1 410.685.2324