BROOKFIELD, Wis.–Fiserv has received the “best-in-class” ranking among U.S. core banking system providers in a recent report from global research and advisory firm Aite Group, the company reports.
The report explores key trends within the core system market and recognizes vendors for their strengths in critical areas. Fiserv said it is the only provider to achieve the best-in-class status this year.
“Success in today’s market means solutions have to be real-time, secure, efficient, and always up,” said Christine Barry, research director, Wholesale Banking, Aite Group. “Given the extreme importance being placed on user experience and the ability to more easily leverage emerging fintech capabilities within a single ecosystem, Fiserv initiatives to facilitate integration of services into the core platform, as well as deliver a similar look and feel across all of its products and services, are critical steps to equipping Fiserv clients to compete in today’s marketplace.”
The Aite Impact Metrix (AIM) evaluation analyzed the overall competitive position of each vendor, focusing on vendor stability, client strength, product features, and client services, Fiserv explained.
In the report, Aite Group highlighted current Fiserv initiatives, including API integration, that are making it easier to integrate Fiserv core and surround solutions with third-party offerings, while also noting that the company offers a full suite of solutions capable of meeting all or most bank and credit union needs. The Fiserv focus on user experience and responsive design to achieve a similar look and feel across its solutions was also recognized as a primary component of the overall Fiserv strategy, the company said. “Taken together, these initiatives facilitate a better experience for both financial institutions and their customers,” Fiserv added.
Fiserv also received high ratings from clients for the quality of its management team and company reputation, the company added.
“Selecting a core platform provider is among the most important technology decisions a bank or credit union will ever make,” said Byron Vielehr, chief administrative officer, Fiserv. “Core platforms are the foundation from which financial institutions serve their customers, and we value the trust that our clients place in us as we work together to enable their success in a continuously changing world.”