NOVO BANCO Selects Fiserv to Modernize Payments Processing
October 03 2019 - 4:00AM
Business Wire
Bank will leverage Enterprise Payments Platform
and Advantage Fee from Fiserv to deliver an integrated end-to-end
billing and payments experience to customers
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of
payments and financial services technology solutions, announced
today that Portuguese bank, NOVO BANCO, will consolidate their
existing payments infrastructure and deploy end-to-end billing and
payment capabilities using technology from Fiserv. This initiative,
undertaken as part of the bank’s overall IT and payments
transformation program, will allow the bank to decommission
multiple inflexible legacy systems and build an efficient, scalable
modern payments architecture.
NOVO BANCO will use Enterprise Payments Platform, formerly
Dovetail, for all payments processing and Advantage FeeTM, a
comprehensive billing and revenue management solution, for nostro
and correspondent banking charging. The Fiserv technology will
integrate with other systems within the bank, including anti-money
laundering (AML), fraud, risk and core banking platforms, and
externally with other NOVO BANCO entities.
“We wanted to implement a modular payment hub to give our
customers an elevated and seamless omni-channel payments
experience,” said Antonio Ramalho, CEO, NOVO BANCO. “Having a
centralized payments platform helps us achieve our immediate
business goals and progressively move toward our strategic vision
of a unified and flexible payments platform for all payment types,
including instant.”
Enterprise Payments Platform will enable centralized management
of all NOVO BANCO payments, regardless of the origination channel,
payment type and entity. The bank will move all high-value payments
including SWIFT, SWIFT gpi and SIBS Target2 to the Enterprise
Payments Platform immediately, followed by low-value and instant
payment types.
“Financial Institutions are embarking on innovative technology
initiatives to meet their business aspirations and customer
expectations,” said Jan Kruger, senior vice president and general
manager, Enterprise Payments Platform Solutions, Fiserv. “Fiserv
technology provides the modern functionality necessary to underpin
NOVO BANCO’s payments transformation, and will help the bank to
realize efficiency, innovation and competitive
differentiation.”
In a world moving faster than ever before, Fiserv helps clients
deliver solutions in step with the way people live and work today –
financial services at the speed of life. Learn more at
fiserv.com.
About NOVO BANCO
NOVO BANCO is a leader in the Portuguese financial system,
recognized for the high standards of service quality and commercial
dynamics with which its clients, individuals, companies and
institutions are served. The bank assures wide coverage of clients’
financial needs, providing a range of capabilities in all areas of
financial services.
Currently undergoing a large-scale digital transformation, NOVO
BANCO aims to become Portugal’s best commercial bank for the
digital age. To this goal, the bank is developing world-class
digital self-service capabilities, intelligent multichannel
relationships and seamless multichannel and multi-device
experiences.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) 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 solution. Fiserv is a member of
the S&P 500® Index and the FORTUNE® 500, and is among the
FORTUNE Magazine World’s Most Admired Companies®. Visit fiserv.com
and follow on social media for more information and the latest
company news.
FISV-G
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version on businesswire.com: https://www.businesswire.com/news/home/20191003005256/en/
Media Relations: Ann Cave Director, Public Relations
Fiserv, Inc. +1-678-325-9435 ann.cave@fiserv.com Additional
Contact: Sharada Alvakonda Marketing Communications Manager
Enterprise Payments Platform Solutions Fiserv, Inc.
+44-7548-705-375 sharada.alvakonda@fiserv.com
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