DNA from Fiserv Selected by Third Federal as Part of its Digital Transformation
Fiserv (NYSE: FI) announced that Third Federal Savings & Loan has selected its DNA® platform to enhance digital innovation and operations. The $17bn Cleveland-based bank chose DNA to improve operational efficiency, product deployment speed, and seamless integration capabilities.
The DNA platform recently received recognition from Celent in its 2024 xCelent Awards, earning the Advanced Technology Award for best-in-class technology architecture. Celent designated DNA as a Luminary for technical capability, highlighting its technological superiority across diverse institution types, sizes, and geographic markets.
Third Federal's Chief Information Officer, Andy Rubino, emphasized that the open and real-time core solution aligns with their customer service goals by enabling third-party integration and superior user experience. The platform's recent enhancements include public cloud deployment, commercial loan servicing, and open ecosystem integration features.
Fiserv (NYSE: FI) ha annunciato che Third Federal Savings & Loan ha scelto la sua piattaforma DNA® per migliorare l'innovazione digitale e le operazioni. La banca di Cleveland, con un patrimonio di 17 miliardi di dollari, ha scelto DNA per aumentare l'efficienza operativa, la velocità di distribuzione dei prodotti e le capacità di integrazione senza soluzione di continuità.
La piattaforma DNA ha recentemente ricevuto riconoscimenti da Celent nei suoi xCelent Awards 2024, guadagnandosi il premio Advanced Technology per la migliore architettura tecnologica. Celent ha designato DNA come Luminary per la sua capacità tecnica, evidenziando la sua superiorità tecnologica tra diversi tipi di istituzioni, dimensioni e mercati geografici.
Il Chief Information Officer di Third Federal, Andy Rubino, ha sottolineato che la soluzione core aperta e in tempo reale è in linea con gli obiettivi di servizio al cliente, consentendo l'integrazione con terze parti e una superiore esperienza utente. I recenti miglioramenti della piattaforma includono il deployment su cloud pubblico, la gestione dei prestiti commerciali e le funzionalità di integrazione in un ecosistema aperto.
Fiserv (NYSE: FI) anunció que Third Federal Savings & Loan ha seleccionado su plataforma DNA® para mejorar la innovación digital y las operaciones. El banco con sede en Cleveland, con 17 mil millones de dólares en activos, eligió DNA para aumentar la eficiencia operativa, la velocidad de implementación de productos y las capacidades de integración sin interrupciones.
La plataforma DNA recibió recientemente reconocimiento de Celent en sus Premios xCelent 2024, obteniendo el premio Advanced Technology por su arquitectura tecnológica de primer nivel. Celent designó a DNA como Luminary por su capacidad técnica, destacando su superioridad tecnológica entre diversos tipos de instituciones, tamaños y mercados geográficos.
El Director de Información de Third Federal, Andy Rubino, enfatizó que la solución central abierta y en tiempo real se alinea con sus objetivos de servicio al cliente al permitir la integración de terceros y una experiencia de usuario superior. Las mejoras recientes de la plataforma incluyen el despliegue en la nube pública, la gestión de préstamos comerciales y las características de integración en un ecosistema abierto.
Fiserv (NYSE: FI)는 Third Federal Savings & Loan이 디지털 혁신과 운영 향상을 위해 DNA® 플랫폼을 선택했다고 발표했습니다. 170억 달러 규모의 클리블랜드 기반 은행은 운영 효율성, 제품 배포 속도 및 원활한 통합 기능을 개선하기 위해 DNA를 선택했습니다.
DNA 플랫폼은 최근 Celent의 2024 xCelent Awards에서 인정받아 최우수 기술 아키텍처에 대한 Advanced Technology Award를 수상했습니다. Celent는 다양한 기관 유형, 규모 및 지리적 시장에서의 기술적 우수성을 강조하며 DNA를 Luminary로 지정했습니다.
Third Federal의 최고 정보 책임자인 Andy Rubino는 개방형 실시간 코어 솔루션이 제3자 통합 및 우수한 사용자 경험을 가능하게 함으로써 고객 서비스 목표와 일치한다고 강조했습니다. 플랫폼의 최근 개선 사항에는 공용 클라우드 배포, 상업 대출 서비스 및 개방형 생태계 통합 기능이 포함됩니다.
Fiserv (NYSE: FI) a annoncé que Third Federal Savings & Loan a sélectionné sa plateforme DNA® pour améliorer l'innovation numérique et les opérations. La banque basée à Cleveland, d'une valeur de 17 milliards de dollars, a choisi DNA pour améliorer l'efficacité opérationnelle, la rapidité de déploiement des produits et les capacités d'intégration sans faille.
La plateforme DNA a récemment été reconnue par Celent lors de ses xCelent Awards 2024, recevant le prix Advanced Technology pour sa technologie de pointe. Celent a désigné DNA comme Luminary pour sa capacité technique, soulignant sa supériorité technologique à travers différents types d'institutions, tailles et marchés géographiques.
Le directeur des systèmes d'information de Third Federal, Andy Rubino, a souligné que la solution core ouverte et en temps réel est en adéquation avec leurs objectifs de service client en permettant l'intégration de tiers et une expérience utilisateur supérieure. Les récentes améliorations de la plateforme incluent le déploiement sur le cloud public, la gestion des prêts commerciaux et les fonctionnalités d'intégration dans un écosystème ouvert.
Fiserv (NYSE: FI) gab bekannt, dass Third Federal Savings & Loan seine DNA®-Plattform ausgewählt hat, um digitale Innovationen und Betriebsabläufe zu verbessern. Die 17 Milliarden Dollar schwere Bank mit Sitz in Cleveland wählte DNA, um die betriebliche Effizienz, die Geschwindigkeit der Produktbereitstellung und die nahtlosen Integrationsfähigkeiten zu steigern.
Die DNA-Plattform erhielt kürzlich Anerkennung von Celent bei den xCelent Awards 2024 und erhielt den Advanced Technology Award für ihre erstklassige Technologiearchitektur. Celent ernannte DNA als Luminary für technische Fähigkeiten und hob ihre technologische Überlegenheit in verschiedenen Institutionstypen, Größen und geografischen Märkten hervor.
Der Chief Information Officer von Third Federal, Andy Rubino, betonte, dass die offene und Echtzeit-Core-Lösung mit ihren Kundenservicemöglichkeiten übereinstimmt, indem sie die Integration von Drittanbietern und ein überragendes Benutzererlebnis ermöglicht. Zu den jüngsten Verbesserungen der Plattform gehören die Bereitstellung in der öffentlichen Cloud, die Verwaltung von Geschäftsdarlehen und Funktionen zur Integration in ein offenes Ökosystem.
- Selected by major financial institution ($17bn Third Federal Savings & Loan)
- Won 2024 xCelent Advanced Technology Award
- Designated as Luminary by Celent for technical capability
- Platform demonstrates broad market acceptance across different institution types and sizes
- None.
Insights
The selection of Fiserv's DNA platform by Third Federal, a
Revenue Impact and Market Validation: Core banking contracts typically generate substantial recurring revenue through long-term agreements, often spanning 5-7 years with high renewal rates. The addition of a
Competitive Advantages: The Celent xCelent Award and Luminary designation for DNA's technical capabilities provide important third-party validation of Fiserv's technology investment strategy. These accolades are particularly valuable in a market where banks scrutinize vendors' technical capabilities and innovation roadmaps during the lengthy core system selection process.
Strategic Growth Drivers: Three key elements underscore the strategic value of this partnership:
- The platform's open architecture and real-time processing capabilities position Fiserv to capture additional revenue through integration services and third-party partnerships
- Recent enhancements in public cloud deployment and commercial loan servicing expand DNA's addressable market
- The platform's scalability and configurability reduce implementation risks while supporting client growth
This deal validates Fiserv's investment in modernizing its core banking technology and positions the company to capitalize on the accelerating trend of core system modernization in the banking sector. The emphasis on cloud deployment and open integration aligns with banking industry priorities, potentially creating additional cross-selling opportunities across Fiserv's broader product portfolio.
Fiserv core solution recognized with Advanced Technology Award, designated Luminary by Celent for best-in-class technology and technical capability
Third Federal, a
“Everything we do at Third Federal is focused on serving our customers and associates. An open and real-time core solution that allows us to easily integrate with third parties and provide a superior user experience helps us achieve this goal,” said Third Federal Chief Information Officer, Andy Rubino. “We regularly evaluate new ways to improve the service we offer, and the Fiserv DNA core platform empowers us to create a seamless customer experience.”
DNA leads the way in awards and client satisfaction
DNA’s continued enhancements were recently recognized by research and advisory firm Celent in its 2024 xCelent Awards for community-based financial institution core systems, earning an xCelent Advanced Technology Award for its best-in-class technology architecture, with a high breadth of functionality complemented by significant customer base and support capabilities. In addition, DNA was designated a Luminary for technical capability. Celent noted that the diversity of DNA’s client base by institution type, size and geographic market are indicators of its technological superiority.
“Fiserv continues to invest heavily in its modern real-time DNA core system, with its scalable architecture, open integration, deployment flexibility and configurability making it a top solution for banks and credit unions,” said Craig Focardi, principal analyst, Celent. “Recent enhancements for public cloud deployment, commercial loan servicing, and open ecosystem integration will continue to appeal to financial institutions seeking to replace their current core systems.”
“As financial institutions face pressure to meet consumer expectations, they should scan the horizon for future-ready technology that enables innovative, differentiated experiences,” said Dudley White, president, Core Account Processing Solutions, Fiserv. “DNA accelerates and elevates financial institutions’ ability to respond to change, facilitate engagement and growth, and help them get ahead of what’s next.”
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
FI-G
View source version on businesswire.com: https://www.businesswire.com/news/home/20250214476059/en/
For more information contact:
Media Relations:
Mark Jelfs
Senior Manager, Communications
Fiserv, Inc.
+1.414.218.4019
mark.jelfs@fiserv.com
Additional Contact:
Melissa Moritz
Vice President, External Communications
Fiserv, Inc.
+1.516.410.1188
melissa.mortiz@fiserv.com
Source: Fiserv, Inc.
FAQ
What recognition did Fiserv's (FI) DNA platform receive in the 2024 xCelent Awards?
Why did Third Federal choose Fiserv's (FI) DNA platform in 2024?
What are the key features of Fiserv's (FI) DNA platform in 2024?
What is the size of Third Federal that selected Fiserv's (FI) DNA platform?
