Mobile Commerce

Fiserv And Cisco Turbocharge FI Tech Strategies

Financial technology outfit Fiserv said on Wednesday (April 20) that it has inked an agreement with Cisco to deliver solutions focused on communications that help financial institutions boost collaboration within their firms and also boost customer engagement.

Fiserv said in a press release that the new initiative looks to help FIs bring more presence to their virtual operations, with remote experts and secure wireless access that can support a “universal banker model.” Fiserv’s managed services portfolio, Sentry Performance Solutions, which serves up hosting services, network security services and other offerings, will host these internal and customer-centric communications. Fiserv also gains access to the Cisco workforce experience solution and the networking tech giant’s branch solutions. The former allows for unified communications over video and audio, and the latter allows for Wi-Fi communications within branches.

In a statement accompanying the release, Byron Vielehr, president of depository institution services for Fiserv, said: “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.”

Separately, Marc DeCastro, research director of consumer banking engagement strategies at IDC Financial Insights, said: “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.”

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