Fiserv bags banking tech deal from Merchant Bank of Sri Lanka

Fiserv, a provider of financial services technology solutions, announced its deal with Merchant Bank of Sri Lanka & Finance for deploying the Signature core account processing platform and Teller front-end teller system.

Due to the recent merger of its subsidiaries, the branch network grew from 30 to 49 branches, while customer accounts increased to 100,000. The technology deal with Fiserv will assist Merchant Bank of Sri Lanka & Finance to support larger branch network and customer base.

Fiserv solutions will also help MBSL streamline operations and simplify customer management and support.

“As our network and the number of customers grew, we needed a new core infrastructure that could provide the stability, flexibility and scalability we require, while also bringing down the cost of supporting multiple systems,” said T Mutugala, CEO, Merchant Bank of Sri Lanka & Finance.

The implementation of the Signature and Teller solutions will enable MBSL to access a new front-end teller system design that offers improved and a streamlined view of the customer. The banking company will have real-time online transaction processing and simplified processes on the back-end.

Fiserv said Signature offers the capability to support ATM and digital banking channels as the company continues to grow. Fiserv provides a platform to offer 24/7 capabilities and support to customers across channels.

“More financial institutions find themselves instantly serving a larger customer base as a result of a merger or organic growth. This increases the need for flexible technology to provide a consistent and seamless experience that fits the way people live and work today,” said Marc Mathenz, managing director, Asia Pacific, Fiserv.

Signature from Fiserv is a multi-lingual, multicurrency core account processing solution designed to meet the enterprise needs of banks. Banks can bring new products and services to market quickly and efficiently.

Fiserv has implemented its bank platforms in more than 40 countries. 80 enterprise clients in 13 countries, including largest banks in Australia, Thailand, and Indonesia use Fiserv solutions in Asia Pacific.