BROOKFIELD, Wis.--(BUSINESS WIRE)--Fiserv, Inc. (NASDAQ:FISV), a leading global provider of financial services technology solutions, announced today that Dime Community Bank, a $6.44 billion asset financial institution based in Brooklyn, New York, will accelerate its transformation to a robust community commercial bank model by moving to a modern, real-time core banking platform and integrated suite of digital banking solutions from Fiserv. The bank will utilize this technology to uniquely tailor services to the needs of business, retail and commercial customers as part of its ongoing expansion plans.
Dime Community Bank has been among the leading commercial real estate multi-family lenders in New York, a business in which it has specialized for more than 50 years. In 2014, Dime started on a path to transform and re-energize the bank’s business by adding branches, launching new digital channels and establishing new commercial lending services.
“Upgrading our technology foundation is an essential step in differentiating in the competitive markets we serve,” said Ken Mahon, president and CEO, Dime Community Bank. “Only Fiserv was able to provide the up-to-date core platform along with integrated solutions that enable us to be more efficient while delivering unique commercial, retail and digital experiences to our customers.”
Fiserv will provide Dime with integrated solutions that eliminate the need for staff to log into separate systems or manually gather data from independent information siloes, and strong business and cash management capabilities to serve an expanding commercial customer base.
Dime will leverage DNA® from Fiserv for modern, real-time account processing capabilities, along with a set of digital banking solutions from Fiserv. These include Commercial CenterSM with enhanced security and cash management capabilities for commercial and small business banking, and ArchitectTM for a unified consumer experience spanning mobile, tablet and PC banking. The bank will also be using integrated solutions from Fiserv to upgrade the bank’s fraud protection, replace branch capture with a more efficient teller capture solution, and add wire transfer and document management capabilities to support its commercial and industrial business.
“Fiserv technology and expertise will equip us to meet the needs of our customers,” said Tim Lenhoff, executive vice president and Chief Technology Officer, Dime Community Bank. “We anticipate being able to streamline or eliminate a substantial number of manual processes, which saves the bank money and lets our people focus on servicing customers and growing our business. In addition, we will be able to offer many more solutions and services to all of our customers.”
“Fiserv is focused on helping financial institutions like Dime thrive through our digital ecosystem that delivers an always on, always connected customer experience from the branch to the digital device,” said Byron Vielehr, group president, Depository Institution Services, Fiserv. “We’re helping clients achieve best in class results by making digital engagement a defining advantage in driving growth and enhancing operational efficiency.”
Fiserv is the U.S. market leader in account processing services, and more than one-third of U.S. financial institutions rely on Fiserv for account processing solutions and expertise. DNA is the first open, core banking platform built for collaboration and has been recognized by industry-leading analysts for its technology, user experience and breadth of functionality.
In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
About Dime Community Bank
Dime Community Bank has been a trusted community bank for over 150 years, with deep roots in the communities it serves. Dime provides financial services and loans for multi-family housing within its market areas, in addition to loans to mid-size and small businesses. The Bank maintains its headquarters in the Brooklyn Heights section of Brooklyn, and thirty additional offices in the boroughs of Brooklyn, Queens, the Bronx, and in Nassau County. The Bank gathers deposits primarily from the communities and neighborhoods in close proximity to its branches, and also attracts deposits nationwide through its internet bank and customer contact center known as DimeDirect. For more information, visit www.dime.com.
Fiserv, Inc. (NASDAQ:FISV) enables clients worldwide to create and deliver financial services experiences that are in step with the way people live and work today. For more than 30 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE® 500 and has been named among the FORTUNE Magazine World's Most Admired Companies® for four consecutive years, ranking first in its category for innovation in 2016 and 2017. For more information, visit fiserv.com.