Washington-based bank holding company, Heritage Financial has decided to implement Fiserv Open Solutions’ DNA account processing platform, to better serve the customers of its banking subsidiaries Heritage Bank and Central Valley Bank.
Designed for global collaboration, DNA is an open, relationship-centered core banking platform with various functionality, which enables financial firms to consolidate systems and accommodate rapid growth.
Heritage Bank senior vice president and chief information officer Lisa Welander said the bank acquired four firms in the past three years and is seeking a platform to standardize operations, achieve aggressive growth targets and offer a competitive advantage to customers.
"DNA will help us achieve quick wins with operational efficiencies, a single loan system and a 360-degree view of our customer relationships," Welander added.
In a bid to allow the bank’s staff to securely view complete profiles of their retail and commercial customers by person, product or account, the platform uses a real-time, relational data model designed around the person, not the transaction.
Additionally, due to the ability to employ master line processing, the lender also gains a single loan system for consolidated commercial, mortgage and consumer servicing.
The bank already uses the ACCEL/Exchange payments network and Prologue financial management suite from Fiserv and is considering to deploy Opencheck for outsourced item processing and merchant capture, DNA – tMagic for teller capture, DNAvoice for telephone banking, among others.