Alabama-Based Citizens Bank & Trust Chooses Fiserv Technology For Core Processing

Alabama-based Citizens Bank & Trust will bolster its online banking experience and “drive commercial and retail growth” with technology from Fiserv, according to a Tuesday (March 30) announcement emailed to PYMNTS.

The financial institution (FI) will use Fiserv’s DNA core processing system’s real-time processing functions, digital ecosystem and ability to simply integrate third-party applications.

DNA serves as a modern core account processing system with an open architecture that makes it easier for FIs to integrate other offerings, bring products and services online in an expedient manner and simply add new functions.

In addition, DNA offers real-time performance by running and storing account transactions as they take place.

Moreover, Citizens Bank & Trust will implement technologies for artificial intelligence (AI)-fueled voice banking, person-to-person (P2P) payments, electronic bill payments and digital banking.

Citizens Bank & Trust has in excess of $700 million in assets and was looking to expand beyond the capacities of its previous core processing infrastructure.

“Previously, customers had to navigate between multiple sites and apps to access their accounts, none of which consistently display the most current transaction information,” Citizens Bank & Trust CIO Sam Pate said in the announcement. “With DNA, we’ll be able to integrate whatever tech our strategy demands and operate in a real-time environment with consistently up-to-date account and transaction data. This type of environment is foundational to the experience we want to create for our customers moving forward.”

Citizens Bank & Trust was established in 2003 and is based in Northern Alabama. It is the biggest community bank headquarted in Marshall County, according to the announcement.

“Citizens Bank & Trust laid out a smart, comprehensive growth plan, and we look forward to enabling their team’s strategy with Fiserv technology, particularly with real-time core processing and open application programming interfaces [APIs],” Chris Bacon, president of Open Solutions at Fiserv, said in the announcement. “With DNA, the bank will be in a stronger position to offer innovative products and services and a streamlined experience to retail customers, while continuing to expand their already robust commercial revenue lines.”

Fiserv plays in a number of areas, from acceptance to FinTechs and digital banking. As it posted its Q4 and full-year earnings in early February, it became evident that those digital-first functions were the star of the show last year and will be in 2021.