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Pitney Bowes Enables Transformation with New Banking Platform from Fiserv
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Pitney Bowes (NYSE: PBI) is set to integrate a new core financial platform designed by Fiserv across its business operations in 2022. This platform aims to enhance efficiency and stability, extending services to small and midsize businesses. The investment reflects Pitney Bowes' strategic direction to improve financial solutions, supporting over 750,000 global clients. It marks a significant step in maintaining competitive advantages in a changing business landscape while emphasizing the company's longstanding commitment to these market segments.
Positive
Introduction of a new financial platform by Fiserv enhances operational efficiency.
Strategic investment aimed at growing service offerings for small and mid-size businesses.
Continued commitment to client support with innovative financial solutions.
Negative
None.
New core financial platform to be integrated across business in 2022
STAMFORD, Conn.--(BUSINESS WIRE)--
Pitney Bowes Inc. (NYSE: PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced the roll out of a transformational best-in-class banking platform in 2022. The modern platform from Fiserv, a leading global provider of payments and financial services technology, creates the foundation for Pitney Bowes’ bank to extend and expand its offerings to small and midsize businesses. It will improve efficiency, provide stability and allow the Company to continue to provide payment solutions that grow with the needs of clients.
For Pitney Bowes, the new Fiserv platform is the latest in a series of strategic investments to generate future growth and deliver world-class service to its 750,000 clients across the world. The banking platform will enable Pitney Bowes to compete at the highest level, building on its extensive experience in delivering industry-leading shipping finance solutions to small- and medium-sized businesses.
“More than ever, small- and mid-market enterprises need a partner that invests on their behalf to deliver value, reliability and consistently high-performance levels. This exciting investment evidences our deep and continued commitment to Main Street – a commitment that has remained firmly at the heart of our business for more than 100 years,” said Christopher Johnson, Senior Vice President and President, Pitney Bowes Financial Services and Board member of the Pitney Bowes Bank. “The new core platform will enable us to improve our own internal processes and systems, and build agile, innovative financial solutions to help our clients grow.”
“A combination of technology and trusted relationships are key to the long-term success of small businesses, and we’re proud to be a partner to Pitney Bowes Bank as they enhance and expand their offerings to deliver an excellent experience and enable their clients to remain competitive in today’s changing business environment,” said Todd Horvath, Head of Account Processing Services at Fiserv.
For more than two and a half decades, the Pitney Bowes Bank - a subsidiary of Pitney Bowes Financial Services – has delivered customized financial solutions to help small- and mid-market firms grow and thrive. These solutions currently include equipment financing, working capital and payments. Investment in the Fiserv platform will enable Pitney Bowes to enhance and extend these solutions.
About Pitney Bowes
Pitney Bowes (NYSE:PBI)is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For additional information visit Pitney Bowes at www.pitneybowes.com.
The Pitney Bowes Bank, Inc. is a subsidiary of Pitney Bowes Financial Services, which in turn is a subsidiary of Pitney Bowes, Inc. The bank is a fully chartered Industrial Bank located in Salt Lake City, Utah for over 23 years and Member FDIC. The bank has a nationwide lending and deposit footprint.
